The recent surge in the stock market has been driven by companies announcing artificial intelligence (AI) pivots, with investors seeking out potential winners in this emerging trend.
However, not all firms are experiencing the same level of success from these makeovers. Some companies have reported underwhelming results, sparking concerns that the AI hype may be wearing off.
The phenomenon is not unprecedented, as it bears similarities to the blockchain hype cycle that swept through the market several years ago.