Australia’s top technology investors have bounced back from a tough start to the year as booming demand for chips that power artificial intelligence unleashes an explosive rally in semiconductor stocks, fuelling bumper returns in April for growth-focused funds.
Investors have piled into technology stocks amid signs that the giant AI providers are continuing to ramp up spending. The four biggest spenders – Amazon, Microsoft, Alphabet and Meta – are expected to plough nearly $US700 billion ($982 billion) into capital expenses this year.
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