AI Coding Trade Showing Cracks? Claude Code, Codex Growth Suddenly Slows As Budgets May Be Running Dry, Researcher Says: 'It's Clear That Growth...'

AI coding tool adoption has shown signs of slowing after a rapid run earlier in 2026, with independent researcher Rihard Jarc reporting Claude Code installs flattening around ~120,000/day and OpenAI Codex near ~60,000/day. The data — drawn from Visual Studio Code marketplace metrics — suggests normalization as enterprises manage AI budgets, face GPU/compute constraints and contend with rising costs. UBS analyst commentary highlights investor uncertainty about where AI will sustainably create economic value, prompting questions about whether the earlier software and semiconductor rallies are fully warranted. The shift could temper the AI growth trade and pressure related software and infrastructure equities if the trend persists.