AI Investment Boom Continues to Drive U.S. Stocks, Says Apollo Economist

The rapid expansion of artificial intelligence (AI) investments continues to fuel gains in U.S. equities and may also be strengthening the U.S. dollar, according to Apollo Global Management Chief Economist Torsten Sløk, Jake Conley reported for Yahoo Finance.

Because overseas investors must purchase U.S. dollars before investing in American stocks, the increased capital inflows have also supported the greenback. (Screenshot: Nasdaq Exchange X)

According to data cited in a client note by Sløk, foreign investment in U.S. equities has accelerated as global investors seek greater exposure to companies benefiting from the AI boom.

Because overseas investors must purchase U.S. dollars before investing in American stocks, the increased capital inflows have also supported the greenback.

As of Monday, the U.S. dollar had appreciated by approximately 2.8 percent against a basket of major international currencies since the beginning of the year.