Investors are riding the artificial intelligence (AI) wave, and tech stocks are reaping the benefits. As reported by Bloomberg, according to Bank of America Corp., a “baby bubble” in AI was the hot market theme in May.
Record Tech Investments
With an all-time high of $8.5 billion attracted to tech funds in just one week through May 31, the trend is clear. Based on numbers from EPFR Global, the data signals the role of “monopolistic tech” in the financial landscape. According to strategist Michael Hartnett, it’s a world where pricing power and a squeeze on smaller suppliers make the rules.