However, investors aren't pricing the future impact of AI into the S&P 500 today.artificial intelligence
The technology sector has carried the broader market so far in 2023 as enthusiasm about AI builds. In fact, Goldman Sachs strategists recently noted that as of June 1,Goldman Sachs expects that AI will dramatically improve economic productivity and corporate earnings across the market. While no two markets are the same, Hammond noted that Nvidia's current valuation is similar to dot-com darlings like Microsoft and Intel near the height of the tech bubble. That implies that caution is warranted when investing in the semiconductor company, even though it's thriving.However, even if investors are getting carried away about Nvidia's success, Goldman Sachs isn't worried that US stocks broadly are in bubble territory.