BofA Says AI Frenzy Drives Record Inflows Into Tech

News Snapshot:

(Bloomberg) — The buzz around artificial intelligence has investors pouring a record amount of money into tech stocks, Bank of America Corp. says. Most Read from Bloomberg A “baby bubble” in AI was the dominant market theme in May, strategist Michael Hartnett said, with tech funds attracting an all-time high of $8.5 billion in the week through May 31, according to the bank citing EPFR Global data. “Monopolistic tech” is winning through pricing power and the squeeze on smaller suppliers, Hartnett wrote in a note, highlighting the Nasdaq 100 Index is now at a record high relative to the Russell...