2023-07-18 18:32:49
Engine of the AI revolution: the semiconductors from the US graphics chip manufacturer Nvidia. Image: Reuters
Invesco strategist Jackson expects a less pleasant second half of the year on the stock market. He thinks it is unusual for the bear market to end before the recession.
There are more and more market participants who are concerned about the price development of American technology stocks. Paul Jackson, senior investment strategist at US wealth manager Invesco, is one of them. For him, the topic of “artificial intelligence” (AI) has many characteristics of a classic bubble formation. “No one knows the extent that AI will have in the future,” he says in an interview with the FAZ
This is fertile ground for speculative exaggerations. The importance of algorithms has been known for a long time, which is why the current force of the public debate about the effects of AI is surprising. “There is now competition among analysts to outbid each other with forecasts that are as aggressive as possible,” he adds. However, the lower supply of credit in the economy speaks against the formation of a bubble.
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