Leveraged stock bets are ‘very concentrated in the AI ecosystem,’ Goldman Sachs warns

Everything you need to know before you reach the office this morning.

Good morning. On Fortune’s radar today:

• Markets: Mostly down.
• Leverage is “very concentrated in the AI ecosystem,” Goldman warns.
• The U.S. wealth paradox: No. 2 on average, No. 28 at the median.
• Trump says no return to war—for now.
• Soccer teams commit more fouls in polluted cities.
• You’d need to cut 10 million jobs for AI to pay for itself.

This story was originally featured on Fortune.com