US tech index, the Nasdaq, added around 33 per cent in 2024, with the likes of Apple, Amazon and Tesla up by 30 to 70 per cent each, and chipmaker Nvidia up by an incredible 190 per cent.
AI rally 'far from over' says UBS as it eyes further big tech gains in 2025 Billions of dollars of investment into artificial intelligence is set to propel tech stocks to yet another year of bumper gains, according to analysts at UBS.
The bank thinks AI-related capex from the four biggest tech companies - Amazon, Apple, Alphabet and Meta – will continue to propel gains in the near term, with spending having grown 51 per cent year-on-year to $224billion last year.
UBS wrote in a note on Friday that while 'the easy gains in AI may well be behind us', the rally 'looks far from over'.
By contrast, the tech-light FTSE 100 added just 5.7 per cent, while the Eurostoxx 600 index was up 6.4 per cent.
