Artificial-intelligence stocks may prove unprofitable in the future as investors have already made money on them from this year's hyped-up rally, according to 40-year market veteran Jim Bianco.
"What happens with these stocks is they discount the future.
"That did happen. But if you bought the stock, it took you 12 years to make money," Bianco said of investors in Amazon stock. This year has seen a surge in investor excitement over AI stocks, following the stunning debut of OpenAI's ChatGPT. It's seen investors pump money into popular tech stocks including