The Tech ManiaThe tech mania rolls on. Inflows remain relentless, AI concentration is approaching historical extremes and investors continue chasing the sector higher. Yet some of the most interesting signals are coming from beneath the surface, where copper, volatility and contrarian indicators are beginning to tell a more complicated story.Tech mania
The Great Concentration
AI now represents 39% of the S&P 500. That's approaching the concentration extremes seen during history's biggest bubbles. Yet everyone keeps talking about rotation.









