According to CoinMeta, Bank of America stated that with the surge in artificial intelligence spending and the strong economic prospects in Europe, investors are increasingly favoring European stocks over American stocks. A survey by Bank of America found that about 47% of fund managers expect European stock markets to outperform those in the United States over the next year, which is the highest level since the outbreak of the Iran war in February. Approximately 97% of respondents believe that Europe will not fall into recession, which is also the highest level since 2007. At the same time, more than three-quarters of respondents said that further gains in the stock market will be driven mainly by upward revisions to corporate earnings expectations. Bank of America strategist Andreas Bruckner said, "We are once again focusing on the bullish themes for Europe that we have had since the beginning of the year, which were once hindered by the Iran war."