Fund manager names 3 stocks for investors who want to rotate out of AI

• Chinese Premier Li Qiang defended China's rapid technological growth during a statement on Wednesday, framing the advancements as a global opportunity rather than a threat. • The remarks address ongoing international tensions and security concerns regarding China's expanding influence in the global tech sector.

• The Nasdaq Composite dropped 4.18% and South Korea's KOSPI plunged nearly 10% following a sharp sell-off in technology stocks. • The market volatility was triggered by disappointing AI-related guidance from Broadcom, which fueled investor concerns regarding a potential AI bubble burst.

• A global sell-off in technology stocks continues to rattle markets, with the decline spreading through Asia and Europe on Tuesday. • The volatility has extended to precious metals as investors reassess the potential trajectory of interest rates.

• Global AI funding has experienced a dramatic surge in recent years, though the vast majority of this capital is concentrated within U.S. companies. • Data from Crunchbase reveals that a significant portion of 2026 U.S. funding has been directed toward a small number of frontier AI labs.

• Five projects based at Irish universities have been selected as recipients of the European Research Council (ERC) Advanced Grant. • Announced on June 23, the funding total is €838 million, distributed among more than 300 researchers globally as part of the EU’s Horizon Europe programme.

• Global tech stocks have plummeted as investor sentiment shifts from speculative AI optimism to a focus on tangible financial returns. • Bank of America's bubble indicator shows the Nasdaq 100 is approaching a 0.8 threshold, signaling elevated short-term tail risk for the market.

• Global stock markets experienced a sharp decline on Tuesday, driven by a widespread sell-off in AI-related assets. • South Korea's Kospi index plummeted 10%, triggering a circuit breaker that halted trading for a 20-minute cooling-off period.

• JP Morgan reports that while the United States remains the global leader in AI development, China is rapidly closing the gap by producing more cost-efficient models. • Chinese firms are gaining traction in corporate environments by offering AI systems with significantly lower operational costs than American competitors.

• Rahul Chadha suggests that South Korea's regulatory crackdown on AI may trigger a "healthy correction" in semiconductor valuations rather than ending the overall market rally. • Market analysts are closely monitoring the AI capital expenditure of major tech firms and the risks associated with leveraged ETFs.

• India's IT sector has seen its weight in the Nifty 50 index drop to a record low due to sustained selling. • The decline is primarily driven by investor fears regarding AI disruption, causing the Nifty IT index to sharply underperform.

• US stock futures, including the S&P 500 and Nasdaq, plunged as much as 2.5% on Tuesday following a massive sell-off in technology shares. • The downturn was triggered by a sharp 10% crash in South Korea's benchmark Kospi index, signaling a contagion of selling pressure across Asian and US markets.