Hedge funds increased exposure to AI-related tech hardware in October, hitting a high since 2016, per Goldman Sachs. Speculators believe rising markets have further to go, focusing on semiconductor stocks. Companies linked to AI profits are thriving, with communication services, technology, and utilities outperforming the S&P 500. Hedge funds shifted focus from U.S. power companies and big tech to semiconductors and Asia tech companies.

Read more at Yahoo Finance: Hedge funds boost AI tech bets to highest since 2016, Goldman Sachs says