Global investors pull $770 million from India, chase AI opportunities
India just saw $770 million leave its markets last week, as global investors switched gears and started pouring money into select AI-focused opportunities.
According to Elara Capital's Global Liquidity Tracker, this marks a slowdown in the big AI rally that kicked off last year.
GEM funds, major players in places like Taiwan and South Korea, have also faced six straight weeks of outflows, losing a total of $10 billion.
US AI tech funds pull $9B
Precious metal and commodity equity funds aren't immune either, with redemptions hitting $7.6 billion and $4.2 billion.
Meanwhile, US tech funds tied to AI are still going strong, pulling in $9 billion during the recent market dip and pushing foreign inflows into US stocks to a five-month high of $10 billion.
Investors in Taiwan and South Korea took advantage of AI pullbacks by adding billions locally, while India's focused funds saw most of their outflows from non-US investors.