ChatGPT and artificial intelligence (AI) are all the rage right now.
In fact, AI and GPT together are almost the only drivers of positive stock market performance today.
A small group of companies with advanced capabilities in AI/GPT (Microsoft, NVIDIA, Google, Apple, and a few others) are rallying sharply on the profit and productivity potential offered by the new technology.
If the AI/GPT plays were removed from stock market indices, the remainder of the stocks would be down on a year-to-date basis. Whether this performance is a bubble or a genuine leap based on fundamentals remains to be seen.
History is filled with investing fads that fizzle out.