While artificial intelligence continues to create sharp upswings and downswings in the global market order, veteran American investor and mutual fund manager Peter Lynch remains away from the nascent technology as he believes in investing in what he clearly understands.
Since last year, stock markets around the world saw an increasing frenzy around AI, with hyperscalers increasing their investments in the technology. The increased optimism sparked a sharp rally in the AI stocks, before things began to go down. Analysts soon began sounding the alarm over the massive AI spending and rising debt of the tech giants, questioning if they will actually bear fruit in the future. The worries sparked a sharp selloff in the tech stocks.
