It has been a big week for the AI trade — we've seen wobbles in the market, many of them in response to headlines like the Anthropic S-1 and earnings from the hyperscalers (Oracle, Microsoft, etc.). So what does Wall Street make of all the news, and how are they processing an increasing sense that the laws of the economy barely apply to AI? Today, we speak with Alexander 'Alty' Altmann, global head of equities tactical strategies at Barclays, and he helps us make sense of how Wall Street really feels about the AI trade right now. We also talk about the KOSPI-fication of the S&P 500, if there are any historical precedents for the capex going into the AI buildout, and if AI is really immune to interest rates.

Read More: Microsoft Reports Rising Cloud Sales That Show Payoff From AI

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It has been a big week for the AI trade &mdash; we've seen wobbles in the market, many of them in response to headlines like the Anthropic S-1 and earnings from the hyperscalers (Oracle, Microsoft, etc.). So what does Wall Street make of all the news, and how are they processing an increasing sense that the laws of the economy barely apply to AI? Today, we speak with Alexander 'Alty' Altmann, global head of equities tactical strategies at Barclays, and he helps us make sense of how Wall Street really feels about the AI trade right now. We also talk about the KOSPI-fication of the S&amp;P 500, if there are any historical precedents for the capex going into the AI buildout, and if AI is really immune to interest rates. Read More: <a href="https://www.bloomberg.com/news/articles/2026-10-28/microsoft-reports-quarterly-cloud-sales-that-beat-estimates?srnd=homepage-americas?utm_medium=referral&amp;utm_source=podcast&amp;utm_campaign=odd_lots&amp;utm_content=article">Microsoft Reports Rising Cloud Sales That Show Payoff From AI</a> Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox, plus unlimited access to the site and app. <a href="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast" data-link-cookie="1" data-destination="https://www.bloomberg.com/subscriptions/oddlots?in_source=oddlotspodcast">bloomberg.com/subscriptions/oddlots</a>

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday, Thursday, and Friday

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday, Thursday, and Friday

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

On Bloomberg&rsquo;s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday, Thursday, and Friday.

What Wall Street Really Thinks About the AI Trade Now

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