The enthusiasm around artificial intelligence He continues to drive Wall Street, but some market analysts warn that euphoria could lead to an inevitable adjustment that would hardly impact on the shares of linked companies To this promising sector.
For example, Joe Brusuelaschief economist in RSM, he said that markets are going through a moment of “effervescence” and that it would not be strange to witness a correction in the short term.
Artificial intelligence actions could be overcompricated
Alerts arise while the S&P 500 and the Nasdaq reach Historic maximumswith volatility that is maintained below its long -term averages.
The rise of artificial intelligence managed to transfer the technological sector and now infects the market as a whole. For Brusuelas, part of the impulse has roots in an still favorable economic context: growth close to its potential, unemployment at 4.3% and contained inflation. “Financial conditions are still conducive to investment,” he said.
However, RSM indicators show Overvaluation signals. The firm composed index, which evaluates profitability against volatility, exceeded its historical tendency in a standard deviation.
According to Brusuelas, in the last four cycles, this pattern preceded corrections, even when they were short. “When these movements occur, the valuations tend to be inflated and reflect risks of concentration, especially in the technological sector and artificial intelligence,” he warned.
Wall Street recommends caution
The alert does not imply that a bubble has formed, but the market could cross a necessary adjustment to filter speculative investments.
The recent Nvidia announcement, which plans to allocate up to US $ 100,000 million to OpenAI to expand AI infrastructure, embodies both optimism and doubts about the sustainability of these bets.
“It is a lot of money and can generate questions about inefficient investments,” said the economist, remembering the lessons of the Puntocom bubble, when an excess of digital infrastructure was built that took years to absorb.
Even recognizing the transformative potential of AI, Brusuelas recalled that Not all initiatives will survive. A study of the MIT Media Lab warns that up to 95% of current projects could fail in terms of profitability. “Some of yesterday’s favorites no longer exist, which should lead to greater attention in risk management,” he said.
For now, the magnitude and timing of an eventual correction remain uncertain. “Even if it were a bubble, these types of processes can be extended for a long time,” the executive concluded.
Source: Ambito
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