Surging stockmarkets are powered by artificial intelligence

Do you buygptAIaiaiaispaiaiai the hype? The release of Chat, a tool designed by Open, has kicked off a wave of enthusiasm about artificial intelligence (). Everyone from spy agencies to is trying to make use of the technology. And investors are working out how they might be able to take advantage by buying -exposed firms.In the stockmarket this has manifested itself as an almighty boom in the valuation of tech companies. Open might be private, but the & 500 index of leading American shares contains more than a dozen firms that design software, have invented or build the computing chips that make possible, or run the data centres that the tech relies on. The latest firm to experience an -induced rally is Nvidia. The Californian company’s share price has risen by almost 23% since it reported unexpectedly strong earnings on May 24th, and has more than doubled in the year to date. Nvidia is now the fifth most valuable listed corporate entity in America.