The artificial intelligence rally is drawing renewed market support as investors who had questioned AI returns and worried about stretched technology valuations revise their views. According to Odaily, large technology companies have continued increasing spending on AI infrastructure, while related companies have shown resilient earnings.

Over the past year, debate over artificial intelligence has continued. Nvidia (NVDA), Microsoft (MSFT), Amazon (AMZN), and Google (GOOGL) have kept investing hundreds of billions of dollars in AI computing infrastructure, supporting demand for chips, cloud services, and data centers. At the same time, some investors have said the scale of AI capital spending is large, while the commercial returns will take time to prove and technology stocks may already reflect too much optimism.

Recent market performance shows funds flowing back into AI-related assets. Investors who had bet that the AI rally had gone too far and that technology stocks were due for a pullback are reducing bearish positions, and some traders are looking for new upside.