AI is powering the S&P 500, but it's mostly companies taking an "if you build it they will come" approach. So far, most companies aren't actually paying for AI services.
Wall Street strategists are arguing the stock market rally's next leg higher doesn't need broader participation.
There are concerns that Microsoft-backed OpenAI is losing the lead in technology that it staked out with the launch of ChatGPT in late 2022.