Bank of America has raised its earnings target for US stocks, bringing a "benign investment cycle" for tech giants with AI.

Large companies are expected to enter a "benign investment cycle". It is projected that by 2024, the capital expenditures of Microsoft, Amazon, Alphabet-C, and Meta Platforms will reach $180 billion, a 27% increase year-on-year. Bank of America has raised its earnings per share targets for the S&P 500 index in 2024 and 2025. Investments in artificial intelligence and domestic investment in the United States will lead to productivity improvements, benefiting semiconductor and network technologies. Additionally, there will be an increase in demand for electrification, utilities, and commodities. This investment may lead to a benign cycle, following more than a decade of underinvestment.