Deutsche Bank questions whether superintelligence will materialize, citing economic implications

A broad consensus emerging that superintelligence is not imminent would likely prompt a sustained repricing of AI-sector valuations downward, as growth assumptions embedded in current multiples would need to compress toward more modest productivity-gain scenarios.

If this analysis circulates without triggering a material shift in institutional AI investment theses or central bank growth forecasts, markets would plausibly treat it as one credible dissenting voice among many, leaving near-term positioning and sector rotation largely unchanged.

Should this skepticism gain traction among major asset allocators and prompt a broader reassessment of AI-driven earnings growth, technology and semiconductor stocks would face downward pressure, while defensive and lower-multiple sectors could see relative inflows.