Artificial intelligence (AI) is a transformative technology with the power to change the world. While enthusiasm for AI has fueled recent equity-market gains, long-term investment success may ultimately hinge on applying lessons from past disruptive episodes.
AI-fueled tech-stock valuations are soaring, with investors funneling capital into established mega-caps and speculative ventures alike. But which AI stocks will have staying power, and which are more vulnerable if AI’s sizzle starts to fizzle? At some point, we believe that AI will no longer be a rising tide that lifts all boats, which means investors must be highly…
