New Delhi, July 26 -- Artificial intelligence (AI) has become the biggest driver of global stock markets, with companies spending hundreds of billions of dollars to build AI infrastructure. While investor excitement remains high, experts believe the economics behind the AI boom are far less convincing than the market suggests.

Karan Aggarwal, Co-Founder & CIO at Ametra PMS, says the gap between AI spending and the revenue it currently generates raises important questions for investors, especially those investing in global equity funds with significant exposure to US technology stocks.

"The gap between approximately $725 billion of AI capital expenditure and only $50-60 billion of current AI revenue matters because it translates into les...