Investors are underestimating an AI-driven inflation spike that could pop the bubble in growth stocks, strategist says

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• AI may fuel inflation, impacting the stock market and economy, warns MRB Partners.
• The firm notes AI infrastructure raises energy costs, contrary to expected disinflationary effects.
• Right now, investors largely anticipate AI will be a disinflationary force.

Investors have been grappling with the prospect that the AI trade could actually be bearish if the new technology puts millions of people out of work.

But AI might first...