As we head into Labor Day week, the summer is just about (unofficially) over. That means the NFL season and the holidays are all right around the corner. Another date of note is November 30th, which will mark four years since the release of ChatGPT. November 24th will also be the 1000th trading day since the release of ChatGPT, which kicked off the AI era in earnest. As we show in the chart below, the Nasdaq's path post the release has been eerily similar to how it traded in the wake of the first major internet browser, Netscape, in 1994.
Friday is the 944th trading day since the release of ChatGPT, and the Nasdaq has risen 141.1% in that span. That compares to a 128.5% gain in the 944 days post-release of Netscape (9/14/1998). The past few years remain an impressive example of history at least rhyming. With that said, it is impossible to know how long the AI-fueled bull run will last, but assuming history continues to repeat, or at least closely rhyme, the Nasdaq would still have plenty of runway left.
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