Bank of America Survey Shows 56% of Fund Managers See AI Boom Continuing, Driven by FOMO

According to Bank of America's June survey conducted from June 5–11, 56% of fund managers described the artificial intelligence sector as in a "boom" phase, where rising momentum attracts investors fearing they may miss out on gains. The survey covered investors managing $465 billion in total assets.

Only 21% of respondents characterized AI as in "mania," where valuations have reached extreme levels, while 9% described it as a profit-taking phase. However, the survey also revealed investor caution toward technology: 80% of respondents cited buying and holding global semiconductor stocks as the most crowded trade on record, prompting a pullback in tech overweight positions from 33% to 26%.