Artificial intelligence (AI) dominated the stock market narrative in 2023, and it was a major reason why the S 500 jumped 24% and the Nasdaq Composite soared 43% during the year. It's also why the "Magnificent Seven" stocks (the leading tech stocks) skyrocketed last year.

Despite the stock price boosts, few companies -- except for Nvidia (NASDAQ: NVDA) -- have seen a significant business impact from artificial intelligence over the past year.

It's natural to ask then if last year's AI-fueled stock-market surge is sustainable or if the AI boom is really just market hype.

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Source Fool.com