AI momentum stocks are absolutely ripping right now. Bloomberg data shows they're outperforming global equity indices at the highest 2-month rate on record.

The setup:

- AI names hitting parabolic moves

- Biggest outperformance gap in modern market history

- Concentration risk at ATH levels

The risk:

This level of concentration = fragility. If sentiment flips or liquidity dries up, these names will get hit hardest. Classic late-cycle momentum behavior.

Watch for:

- Breadth divergence

- Volume exhaustion on rips

- Rotation signals into value/cyclicals

When everyone's long the same trade, be ready for the unwind. That's when real alpha gets made.