With the rapid development of artificial intelligence (AI), the increase in electricity demand has attracted a massive influx of investors into utility stocks. In May and June of this year, U.S. utility funds attracted over $1.7 billion in inflows, marking the highest record in nearly two years. An additional $1.1 billion inflow is expected in July, primarily into the Utilities Select Sector SPDR (XLU) exchange-traded fund. Investors are turning their attention to utility stocks in search of AI investment opportunities that can outperform 'Big Tech' stocks in a strong bull market.

US inflation concerns ease, US three major indices rise. Federal Reserve Chairman Jerome Powell to attend a hearing. Microsoft launches financial AI chatbot Copilot. India's Q4 GDP growth unexpectedly accelerates to 8.4%. Trump-related stocks see significant declines amid shareholder disputes. Zuckerberg visits Asia to discuss the AI industry. Intel revives the Altera name, aiming for an IPO. Humanoid robot company Figure secures substantial investment. New York community banks report massive goodwill impairments and change CEO.

["With economic data back in focus, US stocks dipped slightly","Weak demand for US Treasury bonds led to rising bond yields","Performance of AI concept stocks was mixed, with Ideal Automotive soaring 18%","Microsoft invested in the AI startup Mistral, causing Intuition Robotics stock price to plummet"]

David Tepper's Carolina Panthers did not make the NFL playoffs this year. However, there are other enjoyable developments for him. AI is set to be the biggest booster for these stocks, potentially driving David Tepper's net worth beyond $20.6 billion in the coming years. Nearly 58% of Tepper's Appaloosa Management Fund is concentrated in seven artificial intelligence (AI) stocks. Tepper's investment in these seven stocks is not solely due to the recent surge in generative AI. Despite Wall Street...

Following a surge in tech stocks driven by artificial intelligence that pushed the S&P 500 to an all-time high last week, UBS's Global Wealth Management team stated that investor enthusiasm for AI will remain a key theme in the U.S. stock market for 2024 and will drive tech stocks.

Investment in AI is becoming increasingly significant for the S&P 500. Microsoft and Nvidia have driven much of the index's rise, and many companies need to meet market expectations for their profit outlook. Nvidia is the primary engine driving profit growth, with stock price increases outpacing earnings expectations.