JPMorgan: ChatGPT revolution drives half of this year's stock market gains

　　Interest in artificial intelligence, driven by ChatGPT and other large language models, has driven more than half of the S&P 500's gains this year, according to an analysis by JPMorgan Chase.

　　The analysis found that interest in the subject has led to the creation of $1.4 trillion in market capitalization and a 45 percent gain so far this year.

　　The analysis includes "LLM-Innovation" stocks from Microsoft, Alphabet, Amazon, Meta Platforms, Nvidia and Salesforce.com, which have outperformed the other top five stocks - Apple, Tesla, Tesla and Tesco. -Apple, Tesla and Berkshire Hathaway, UnitedHealth Group and JPMorgan Chase, as well as the S&P 500 11 to 50 Index components and the Russell 2000 RPI. 2000 Index (Russell 2000 RUT).

　　Both Alphabet and Microsoft will report earnings after the close of trading on Tuesday.

　　This artificial intelligence classification explains 53% of the performance of the S&P 500 SPX, the performance of the Nasdaq 100 and 68% of the growth factor growth.

　　The JPMorgan team led by Dubravko Rakos-Bujas was not bullish on this development.

　　The analysts said the rise in artificial intelligence, coupled with a shift to security stocks, has led to one of the slimmest leads in the stock market since the 1990s rally. The analysts said:- "Defensive rotations and narrowing growth leads typically indicate that the cycle/recession is slowing."

　　They said the 11 to 50 stocks in the S&P 500 component have greater valuation support and are trading at significantly lower prices than the 10 largest market caps. They see room for further rotation in defensive stocks such as health care, utilities and consumer essentials.