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Citi’s Heath Terry says “We need AI token prices to come down”

CNBC reported that Heath Terry, head of AI research at Citi, made the remark on 'Squawk on the Street' while discussing market themes and big tech earnings.

MarketAlleys Research Desk

Published · 3 min read

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Illustration for: Citi’s Heath Terry says “We need AI token prices to come down”
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What happened

CNBC reported on Oct 29, 11:51 UTC that Heath Terry, head of AI research at Citi, said "We need AI token prices to come down."

He made the remark during an appearance on 'Squawk on the Street.' The interview, CNBC said, covered market themes, big tech earnings, and more. CNBC listed no other outlets as also reporting the remark.

Stocks market context

As of Oct 29, 18:01 UTC, the SPY ETF (tracks S&P 500) was $767.24 and fell 0.66% from the prior close, and the QQQ ETF (tracks Nasdaq 100) was $712.91 and fell 1.75% from the prior close. At Oct 29, 18:02 UTC, per Finnhub, NVIDIA was $212.72 and fell 1.24% from the prior close; Apple was $349.82 and rose 1.74% from the prior close; Microsoft was $526.56 and fell 0.84% from the prior close; Amazon was $244.86 and fell 3.83% from the prior close; Alphabet was $282.37 and fell 13.09% from the prior close; Meta Platforms was $626.74 and rose 2.33% from the prior close; Tesla was $404.09 and was little changed from the prior close; and JPMorgan Chase was $343.04 and rose 1.10% from the prior close.

Instrument Last Change Basis As of Source
S&P 500 (via SPY ETF) $767.24 -0.66% vs prior close Oct 29, 18:01 UTC Finnhub
Nasdaq 100 (via QQQ ETF) $712.91 -1.75% vs prior close Oct 29, 18:01 UTC Finnhub
NVIDIA $212.72 -1.24% vs prior close Oct 29, 18:02 UTC Finnhub
Apple $349.82 +1.74% vs prior close Oct 29, 18:02 UTC Finnhub
Microsoft $526.56 -0.84% vs prior close Oct 29, 18:02 UTC Finnhub
Amazon $244.86 -3.83% vs prior close Oct 29, 18:02 UTC Finnhub
Alphabet $282.37 -13.09% vs prior close Oct 29, 18:02 UTC Finnhub
Meta Platforms $626.74 +2.33% vs prior close Oct 29, 18:02 UTC Finnhub
Tesla $404.09 -0.03% vs prior close Oct 29, 18:02 UTC Finnhub
JPMorgan Chase $343.04 +1.10% vs prior close Oct 29, 18:02 UTC Finnhub

CNBC also published "Google's AI spending surges: Here's what you need to know" (Oct 29, 11:08 UTC), which was another item on AI and big tech. Yahoo published "Alphabet's Not the Only AI Stock Tanking the Market" (Oct 29, 14:14 UTC) and "Alphabet Raised $41 Billion in One Quarter to Pay for AI" (Oct 29, 15:33 UTC), both touching on AI-related pressure in tech stocks.

What to watch

According to finnhub, AMZN Q3 2026 earnings is scheduled Thu Oct 29 (after the close) and INTC Q3 2026 earnings is scheduled Thu Oct 29 (after the close).

  • Thu Oct 29 (after the close) — AMZN Q3 2026 earnings · EPS estimate 2.00
  • Thu Oct 29 (after the close) — INTC Q3 2026 earnings · EPS estimate 0.40
  • Thu Oct 29 (after the close) — INGM Q3 2026 earnings · EPS estimate 0.79
  • Thu Oct 29 (after the close) — WKC Q3 2026 earnings · EPS estimate 0.97
  • Thu Oct 29 (after the close) — SNDK Q1 2027 earnings · EPS estimate 47.15
  • Fri Oct 30 (before the open) — XOM Q3 2026 earnings · EPS estimate 4.12

Sources and data

  • CNBC (secondary source) — We need AI token prices to come down, says Citi's Heath Terry
  • Yahoo (secondary source) — Alphabet's Not the Only AI Stock Tanking the Market
  • Finnhub (market data) — market data

Market data as of Oct 29, 18:02 UTC; report generated Oct 29, 18:02 UTC. All times are UTC. Each table row shows its own timestamp and provider.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools from the sources listed above, and checked against our automated-content validation rules. It is for information only and is not investment advice.

Terms in this article

Sources & data

  1. CNBC (secondary, retrieved Oct 29, 2026, 06:06 PM UTC)
  2. Yahoo (secondary, retrieved Oct 29, 2026, 06:06 PM UTC)
  3. Finnhub (market-data, retrieved Oct 29, 2026, 06:06 PM UTC)

Market data as of Oct 29, 2026, 06:02 PM UTC.

This report was produced by the MarketAlleys Research Desk using automated data processing and language tools, built only from the cited sources and validated by rules described in our methodology. Spot an error? Request a correction.

Ask about this story

Questions are answered only from this article and the sources it cites.

MarketAlleys provides news and analysis for information only; it is not investment advice or a recommendation to buy or sell any security. Markets involve risk. Risk disclaimer.

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