Since this year began, the iconic Dow Jones Industrial Average, benchmark S 500, and growth-powered Nasdaq Composite have all put the 2022 bear market in the rearview mirror and catapulted to all-time closing highs. Although megacap stocks have done a lot of the heavy lifting, it's Wall Street's next-big-thing investment trend, artificial intelligence (AI), which is fueling this move.

When talking about AI, I'm referring to the software and systems being used in place of humans to carry out tasks. The secret sauce for AI is machine learning, which allows software and systems to learn over time and become more efficient at their tasks and/or learn new tasks.

The reason AI stocks have soared is simple: AI has application in almost every sector and industry. Though estimates vary wildly, the analysts at PwC believe artificial intelligence can add $15.7 trillion to global gross domestic product (GDP) by 2030.

Continue reading

Source Fool.com