S&P 500 companies are closing out one of their strongest earnings seasons in years, but a closer look at the numbers shows that part of the extraordinary growth is coming from soaring valuations of artificial intelligence companies held as investments by some of America's biggest technology firms.
Aggregate second-quarter earnings for the S&P 500 are on pace to jump 52% from a year earlier, according to LSEG data cited by Reuters. Technology is leading the surge, with the sector's profits climbing an estimated 74%.
