Cracks are forming in the AI capex boom, warns Morgan Stanley. What to buy and sell.

1. Morgan Stanley warns of cracks in AI capital expenditure growth. 2. Hyperscaler capex spending has grown fourfold, depleting cash flow. 3. Investors demand better returns as free-cash-flow growth slows. 4. Large-cap stocks like AMZN may be better than small-cap unprofitable tech. 5. Concerns rising on AI boom sustainability amid increasing competition.