A fresh burst of investor enthusiasm for artificial-intelligence plays is swelling both market capitalisations and personal fortunes. Forbes said the rally has boosted the net worth of eight of the world’s ten wealthiest people and propelled Nvidia co-founder Jensen Huang to a new high in its real-time billionaire ranking. Nvidia’s shares have climbed 36.1% since the start of the year, far outpacing most large-cap peers and powering the chip designer’s valuation. The broader tech landscape remains uneven: Meta is up 31.4%, Microsoft 23.9%, Alphabet 6.1% and Amazon 1.5%, while Apple and Tesla have fallen 8.4% and 18.4%, respectively. The sector-wide enthusiasm is captured in Goldman Sachs’ AI Leaders Basket—covering nine semiconductor, software and power-infrastructure names—which has advanced 756% since launch. The surge is minting a wave of “AI billionaires” and drawing new money from hedge funds that, according to the Wall Street Journal, are raising billions of dollars to wager on the next phase of AI-driven disruption.
Over the past 25 years, Americans have gotten used to the idea that competition basically doesn't matter, and that companies just make runaway profits unless the government steps in. But that's usually not true, and it doesn't look true for AI. https://t.co/zkRqW3ouvG
WSJ: Billions Flow to New Hedge Funds Focused on AI-Related Bets 🧐 https://t.co/QXqu6dq7h6
#WorthReading https://t.co/uyEncMmkm1 Who will pay for the trillion-dollar AI boom?