Artificial intelligence (AI) stocks are hot these days and few have been hotter than Upstart (NASDAQ: UPST), the AI-based consumer lending company. Like other AI stocks, Upstart has been on fire this year and through July. The stock basically doubled last month.  Upstart trounced the S&P 500, which only made modest gains in July.

What was particularly noteworthy about the stock's gains last month is that they came on virtually no news about the company. Instead, the stock seemed to gain mostly on more economic data showing inflation is coming down and several other indicators are rebounding as more investors are becoming convinced that this is the start of a new bull market.

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Source Fool.com