by Jim Rickards, Daily Reckoning:

In fact, AI and GPT together are almost the only drivers of positive stock market performance today.

A small group of companies with advanced capabilities in AI/GPT (Microsoft, NVIDIA, Google, Apple, and a few others) are rallying sharply on the profit and productivity potential offered by the new technology.

If the AI/GPT plays were removed from stock market indices, the remainder of the stocks would be down on a year-to-date basis. Whether this performance is a bubble or a genuine leap based on fundamentals remains to be seen.