Short seller Jim Chanos rolls his eyes at AI hype as Nvidia signals it may sell new shares to eager investors
since the eruption of interest in intelligent-language tool ChatGPT drew traders to the space during the first three months of 2023.
Stanley Druckenmiller and David Tepper both loaded up on Nvidia shares last quarter, while fellow billionaire Bill Ackman bet on Google parentBut others – like Chanos – have warned that AI stocks could have seen their value inflated by traders' expectations that the Federal Reserve will soon pause its interest-rate hiking campaign.that will be popped when the Fed tightens its monetary policy further in a bid to curb soaring prices.
"Don't chase here… financial conditions are tightening again," strategists said in a research note, pointing to previous stock market fads that ended as borrowing costs rose.
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