Artificial intelligence gives real boost to U.S. stock market
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Recent advances in artificial intelligence are fueling optimism over how businesses can operate more productively in the years ahead. They are also providing a big boost to the stock market.The S&P 500's 9% rally this year has been driven by a handful of the index's biggest stocks, a number of which are at the center of the AI frenzy that has spread in the wake of the chatbot sensation ChatGPT. Five stocks - Microsoft, Google parent Alphabet, Nvidia, Apple and Meta Platforms - are responsible for the S&P 500's entire year-to-date return, said Jessica Rabe, co-founder of DataTrek Research. About 25% to 50% of those gains are owed to "the buzz around artificial intelligence," she noted. A recent Societe Generale analysis zeroed in on 20 stocks widely owned by AI-related exc...