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Global fund managers are currently the most exposed to technology stocks since the post-pandemic rebound, according to a survey conducted by Bank of America Corp.
The proportion of respondents who are overweight the tech sector has climbed to 37%, up from 30% in the previous month, marking the highest level recorded since August 2020.
This increase in positioning comes as investors question whether the substantial spending on artificial intelligence will generate sufficient returns to justify current valuations.
While AI has driven nearly 120% gains in the S&P 500 Index over a four-year bull run, sentiment is shifting. In the October survey, 45% of participants agreed that an AI bubble will emerge in 2027, while 42% said no.
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