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(Bloomberg) Nvidia Corp.’s stratospheric ascent has lured at least 100 more ESG funds in recent weeks, transforming the company into one of the most popular stocks among asset managers who integrate environmental, social and governance metrics into their investment strategies.Most Read from BloombergTitanic Sub Hunt Chases Mystery Noises as Air Supply Runs LowChina Says Biden Calling Xi a Dictator Is ‘Provocation’Powell Signals Higher Rates as Lawmakers Press Him on Bank RulesThese Are World’
AI hype starting to smell like dot-com era, veteran ESG investor says leaderpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from leaderpost.com Daily Mail and Mail on Sunday newspapers.
The exuberance surrounding artificial intelligence has driven a lot of capital into a small corner of the market in a very short space of time, and that has implications for tech-heavy ESG funds.
After being caught on the wrong side of Vladimir Putin's war in Ukraine and the Adani scandal, hundreds of ESG fund managers are now dealing with the sting of having misjudged Silicon Valley Bank.