Warning: the AI trade is fracturing fastAI investors should follow three priorities for the rest of 2026, as sharp swings are exposing which parts of the AI trade are built on real demand and which are not. SpaceX tumbled 14% despite posting strong earnings, ahead of the release of roughly $101-billion of shares becoming available for trading Thursday. Green says this is the moment investors need to stop treating the AI trade as settled and start applying real scrutiny. “The AI trade stopped being a single story months ago, and treating it as one is the fastest way to get this wrong,” Green explains. “The more useful question is which parts of the AI trade are built on real demand and which are built on financing structures that still need to prove themselves.