Ken Griffin Doesn't Think AI Will Be the Game Changer Other Investors Are Expecting
Excitement surrounding artificial intelligence (AI) has been helping fuel the market's rally over the past year or more. Businesses are eager to jump aboard AI-powered technologies in an effort to improve their operations, making them more efficient and effective. And for many companies, such as Nvidia (NASDAQ: NVDA), the payoff is already flowing through, with revenue and profits skyrocketing in recent quarters.
But there's undoubtedly a lot of hype in AI which has sent many stocks to obscenely high valuations. And popular hedge fund manager Ken Griffin believes investors may be getting ahead of themselves.
In a recent interview with CNBC, Griffin poured cold water on the market's recent hype involving AI. "It's not clear to me that we're going to get the productivity gains out of AI that the markets are broadly hoping for," he said.
Source Fool.com
