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Benzinga
Benzinga
Business
Bibhu Pattnaik

Bank of America Strategist Raises Alarm Over Potential Ai-Driven Market Bubble: 'It Better Be Different This Time'

Michael Hartnett Stock Market Artificial Intelligence
Hand,Bursting,Ai,Tech,Bubble,Vector,Concept,Illustration.,Prediction,Of

Bank of America strategist Michael Hartnett has raised concerns about the S&P 500’s record-high price-to-book ratio, indicating the possibility of an artificial intelligence-driven stock market bubble.

What Happened: Hartnett has revealed a chart that underscores investor optimism regarding the influence of AI. The chart illustrates the S&P 500’s price-to-book ratio, a metric that compares the total market cap of the index’s constituents to their total assets minus liabilities, hitting a record high of 5.3.

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