AI has been carrying the stock market. An industry pause could pull the rug out, warns this Wall Street giant.
Citigroup warns that if artificial-intelligence model developments slow, earnings revisions could follow, and those have been a crucial factor in stock gains this year.
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# Summary Citigroup warns that a slowdown in AI model development could trigger negative earnings revisions, which have been a primary driver of the stock market's gains throughout 2024. The investment bank suggests that any pause in AI industry momentum could significantly undermine the market's recent rally by removing a key catalyst for equity price appreciation.
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