FirstFT: Investors cut back bets on Asia’s chipmakers

Investors are pulling back on their expectations for Asia’s chipmakers, reflecting concerns over slowing demand and increasing competition. This shift comes as companies look to Chinese AI models to reduce costs amid economic uncertainties. The broader implications suggest a recalibration in global tech investment strategies, particularly as major players like Citigroup undergo significant internal transformations led by Jane Fraser. This trend underscores the volatile nature of tech market dynamics and the influence of geopolitical factors.