Top technology companies hit fresh valuation milestones in October, as their shares climbed on expectations of robust demand for AI chips and computing infrastructure driven by the artificial intelligence boom.Tech shares have risen sharply on optimism over AI’s potential and a series of partnerships and deals with major global companies, including OpenAI, Oracle, Nokia and drugmaker Eli Lilly.The market value-to-capital expenditure ratio for semiconductor firms stood at 75.1, the highest among all global sectors, suggesting investors expect strong returns from the heavy AI-related spending by chipmakers. Is AI technology a trap ?
