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Artificial Intelligence Update

Market Minute

April 2024 – By Scott Rosenquist, CFA®

Artificial intelligence was the dominant theme for investors and the financial markets over the past year. It led equity markets higher with technology companies benefitting from the build-out of data centers and the necessary infrastructure to run AI algorithms.  Some investors are asking themselves, have I seen this before? referring to the late 90’s dot com bust.  One key ingredient missing now is a rush of companies going public to take advantage of the current market environment.  At least not yet.  I do find it interesting that most private AI-focused companies are partnering with larger public companies (with deep pockets) rather than going public. These companies can receive funding without going through the hurdles of a public offering.  AI has gained a lot of traction from my previous post about this topic.

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