According to CoinMeta, a survey by a U.S. bank shows that global investors are chasing the stock market gains driven by artificial intelligence, with their allocation to tech stocks reaching the highest level since the market rebounded from the impact of the COVID-19 pandemic. The survey indicates that the proportion of fund managers over-allocating to tech stocks has risen from 30% last month to 37%, the highest since August 2020. Approximately 45% of respondents believe that a AI bubble will emerge in 2027, while 42% do not think so. Artificial intelligence has always been one of the hottest trading themes in the stock market, driving the S&P 500 index to rise by nearly 120% during a four-year bull market. However, as investors question whether the investment returns from AI can justify the huge technological expenditures, some of the enthusiasm surrounding AI is waning. The survey also shows that global semiconductor stocks are currently the most crowded sector in the market.