The AI craze is a modern gold rush
The AI craze is a modern gold rush: Tom Essaye Quoted in SwissInfo.ch
Tech Giants Drag Down US Stocks After Torrid Rally: Markets Wrap
“The AI craze is a modern gold rush, and the tech ‘picks and shovels companies’ are seeing earnings explode as companies buy chips and cloud space to fuel the boom,” said Tom Essaye, founder of The Sevens Report. “But if AI doesn’t result in increased profitability for the rest of the S&P 500 over the coming years, then demand for AI chips will evaporate as will AI-related cloud demand.”
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