AI TRENDS | KGI Raises S&P 500 Year-End Target to 8,000 After Chip Stocks Slide

KGI Securities Investment Advisory Chairman Chu Yen-min said AI-related stocks have already posted sizable gains and could see higher volatility, but he is more optimistic about AI than at the start of the year and expects the investment theme to persist for some time. He urged investors not to exit too early, according to Ming Pao, after stronger-than-expected U.S. jobs data last Friday lifted expectations for interest-rate hikes and sent the Philadelphia Semiconductor Index down about 10%. KGI raised its year-end target for the S&P 500 to 8,000 from 7,650.