Most stocks hyped as winners from AI boom have fallen this year

Most of the stocks that were caught up in last year’s hype around artificial intelligence have fallen this year, suggesting that investors are increasingly trying to separate the wheat from the chaff among companies claiming to be beneficiaries of the AI trend.

More than half of the individual stocks in BlackRock’s Robotics and Artificial Intelligence ETF, Invesco’s AI and Next Gen Software fund, and First Trust and Nasdaq’s Artificial Intelligence and Robotics ETF have declined this year. Mona Mahajan, senior investment strategist at Edward Jones, said: “Investors are looking a bit more at the earnings story among ‘AI’ names. The differentiator with something like a Nvidia is they have delivered on the bottom line, showing real data.

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