BofA Says AI Frenzy Drives Record Inflows Into Tech
BofA Says AI Frenzy Drives Record Inflows Into Tech
Betting against AI would be a contrarian trade in June: BofA
Strategist retains bearish view on risks of tighter liquidity
The buzz around artificial intelligence has investors pouring a record amount of money into tech stocks, Bank of America Corp. says.
A “baby bubble” in AI was the dominant market theme in May, strategist Michael Hartnett said, with tech funds attracting an all-time high of $8.5 billion in the week through May 31, according to the bank citing EPFR Global data.
