If we believe the headlines, an artificial intelligence revolution is upon us. The companies at the forefront of AI adoption are growing at extraordinary rates, and investors can’t seem to get enough. From hardware to software, companies that court AI consistently enjoy a higher valuation than their counterparts.

Look no further than Nvidia, the most valuable company of the “Magnificent Seven.” Investors are now paying 40 times next year’s projected earnings to own a piece of it. The other six tech giants trail slightly behind at 35 times earnings. Money is flowing into AI hedge funds like water through a broken dam. To offer a more extreme example, a 23-year-old with zero professional money-management experience recently raised $1.5 billion for his new hedge fund … simply by promising to

See Full Page