AI has been widely credited with 2023's seven-month long tech rally, and four companies also rounded out the top 10 performers in a similar rally from 2014.
Artificial intelligence has been widely credited with 2023’s seven-month long technology stock rally, which is showing few signs of slowing down as Nvidia Corp. shares have more than tripled over that time, but four other companies rounded out the top 10 performers in a similar rally in 2014.
This year’s seven-month streak however is much more robust since AI fever set tech stocks on fire. The index has gained 45.8% in the seven months ending July 2023, compared with a 16.6% gain in the 2014 rally, according to FactSet data. Read: Will AI do to Nvidia what the dot-com boom did to Sun Microsystems? Analysts compare current hype to past ones.
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