AI Riches Can Supplant Crypto to Fill the Luxury Gap

The global luxury industry, which has been grappling with three years of lackluster sales, may gain some relief as wealth generated by artificial-intelligence companies and their trillions of dollars of initial public offerings finds its way into fancy fripperies. Increased spending on watches, jewelry and bags will be a boon for big bling — as long as the recent chipmaker sell-off  and worries about data-center financing don’t turn into a broader rout.