Why ChatGPT could spark a new bull market

Welcome back, readers. Phil Rosen here, still poking around OpenAI’s new ChatGPT iPhone app. 

The web version garnered 100 million users in its first two months, but the app — easier and more intuitive to use — now opens it up to a whole new market of smartphone users. 

But the AI hype on Wall Street goes far beyond your next favorite distraction. 

Let’s dive in.

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1. The rise of ChatGPT and subsequent AI boom could solidify the recent strength in stocks as a new bull market, according to market veteran Ed Yardeni. 

In a recent note, the strategist said equities’ strong start to the year isn’t just a bear market rally, but that it indeed marks a new bull regime

In particular, he pointed to the large language models like ChatGPT as reason to anticipate a spike in productivity, and something that could improve how people lead their lives.

That could mean financial worries like bank woes and the debt ceiling…

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This article was written by Phil Rosen and originally published on www.businessinsider.com