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Benzinga
Benzinga
Business
Bibhu Pattnaik

Strategist Warns Key AI Stock Index Is Flashing Bubble Warning: 'This Bull Market in Equities Has a Serious Problem'

United States Stock Market Artificial Intelligence
Ives Sees Palantir as AI Use-Case Leader

Tom Essaye, founder of Sevens Report, has raised concerns about a potential stock market bubble, driven largely by the artificial intelligence (AI) trade.

What Happened: Essaye voiced his apprehensions regarding the health of the AI trade. Despite the S&P 500 nearing all-time highs following a 28% rally since April, and a 57% gain since the announcement of ChatGPT in November 2022, the SOX index remains below its July 2024 highs.

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