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Stephen Colbert’s been beating Jimmy Fallon in the overall late-night ratings race — and we hear Colbert now wants to steal Fallon’s younger viewers, too.

Colbert’s comeback “Late Show” has topped Fallon’s “Tonight Show” for seven weeks straight, but has been behind in TV’s coveted 18-49 demographic.

A source says of riding-high Colbert, “He loves the headlines. He went from underdog to beating Fallon, so of course he’s enjoying it. He’s now so desperate to take over the ‘key demographic’ that he brought back an old character — his [Comedy Central] ‘conservative pundit colleague’ — to compete.”

Colbert’s lead has been chalked up to his skill at political satire. Page Six reported that’s forced Fallon to topically tweak “The Tonight Show.”

But we hear folks at Fallon’s show are waiting for Trump mania to die down. “Trump fatigue has set in,” asserts our source, “so it’ll be interesting to see how long Colbert can ride that wave.”

A Fallon insider was quick to point out that he was on vacation during one of the weeks Colbert beat him. “Colbert won because Jimmy was on vacation and the show was in reruns, but ‘Tonight’ is still winning in every key demographic and just reported its highest ratings in nine weeks,” the other insider said.

Fallon will tape his show from Universal Orlando Resort the first week of April to debut a ride in his honor. “When Colbert has a ride named after him, call me,” the insider quipped.

Reps for the late-night hosts did not comment.