It wasn't a big week in financial markets. When you upwrap it, Fed pricing has been flat and major indexes chopped sideways. The Iran war continues with the usual threats, but we did get a promise from Trump not to attack before the midterms. How credible that promise is might be up for debate. Later today we will get a Hurricane Isaias hitting the US coast, and it's currently a Category 3 storm. Economic data was mixed but continues to point to worsening sentiment and rising price pressures but an overall strong economy, particularly for consumer spending.What I will take away from this week is a particular market reaction; how the FX market moved on the reports of the undershoot of OpenAI revenues. Yesterday, an FT report briefly grabbed the market's attention because it said OpenAI's run rate of revenue was $50 billion not the $70 billion the market expected. That turned out to be something of a canard because it didn't include partner revenue that would have made a like-for-like comparison with Anthropic.What's notable is the initial market moves on the report. For the most part, they were what you would expect with chip names and electricity providers falling. Intel fell 5% and Micron 4%. What caught my attention is that the US dollar fell at the same time. Normally, when you see a quick drop in risk assets, the US dollar rises, particularly against commodity currencies and the pound. Instead, it fell across the board and notably.This highlights something I've been writing about for much of the year: That the US dollar has been carried for some time by inbound investment into AI. Unless you want to invest in China, the US is the only way to invest in the biggest technological theme in a generation. It's also gobbling up capital in both equities and bonds in a move that's set to extend later this year with the Anthropic IPO, and further next year when OpenAI does the same.The thing is, the party won't last forever. At the moment, everyone is being priced in as an AI winner and the valuations are eye-watering, even if you're a big believer (as I am) of the technology. It's not clear that the inventors of AI or the labs or any of the beneficiaries will durably profit from AI. In any case, an explosive technology barely needs any reason to make a big correction at any point and we saw the seeds of that this week.With that, we also saw that the usual flight to USD in a bear market will be the wrong reaction in this cycle, similar to what happened in the dot-com bust. This article was written by Adam Button at investinglive.com.