Uploaded July 2026 | Updated September 2026, 2 weeks ago

---

Increased competition among LLMs and uncertainty about the return on investment on AI capex are all weighing on the market performance on momentum stocks, such as semiconductor firms. Chris Holdsworth, Global Chief Investment Officer, Investec Investment Management, looks at some of the dynamics in global stock markets. Investec Focus Radio SA (investec.com/en_za/focus/investec-focus-radio-podcasts.html)