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Story summary
- The stock market set records in 2025 due to optimism around artificial intelligence.
- Shares of artificial intelligence (AI) companies surged, funding investments in data centers and microchip plants.
- The S&P 500 has risen nearly 50% in two years, while analysts warn valuations are risky and near dot-com-era levels, per Andrew Bailey, Bank of England governor.
- Historically, after a similar rise, the S&P 500 halved in value over two years.
