Shares in some firms involved in AI technology more than double in value as traders bet on massive growth in industry
A rush of interest in artificial intelligence (AI) has helped to fuel a $4tn (£3.2tn) rally in technology stocks this year, with the US Nasdaq exchange reaching its highest level since last August in a week that saw the chipmaker Nvidia poised to become the next trillion-dollar company.
Some stocks seen as AI winners – such as semiconductor makers and software developers – have more than doubled in value as traders bet on massive growth in the industry, even as fears mount over waves of job losses as everyday tasks become automated.
About Author
More Stories
Labour’s open door to big tech leaves critics crying foul
The Cybertruck was supposed to be apocalypse-proof. Can it even survive a trip to the grocery store?
Microsoft to lay off 6,000 workers despite streak of profitable quarters