A.I. buzz has had quite the year so far, and equities investors have subsequently rewarded the companies that have made headlines for integrating generative A.I.—like Microsoft and Meta, which are up 35% and 111% respectively year to date. The chipmakers powering A.I. have also seen a boost from the excitement—the most prominent being Nvidia, which is up 162% this year so far.
Yet is the hype overblown and pushing these stocks higher than they should be? Investor Stanley Druckenmiller, the billionaire CEO of the Duquesne Family Office, said at Bloomberg's Invest Conference on June 7 in New York City that he plans to hold Nvidia. "If I'm right about A.I., I could own Nvidia for two or three more years," he said.
