The ambitious spending plans of artificial intelligence developers coupled with rapid user adoption indicate the global rally in their stocks will persist despite bubble concerns, fund managers at Fidelity International and Allianz Global Investors said.
Unless AI capital spending or usage slowed, he said he expected a rebound following such a correction.
“It’s still in the early stage of the party,” said Zhang, who co-manages more than US$10 billion in assets at Fidelity. “It would be wrong to jump off the party too early.”
While bubble concerns have gripped markets as investors such as SoftBank Group and Peter Thiel cut their exposure, the view of fund managers suggested that the bulls remained undeterred.
