AI chip bubble rivals French stocks in 1700s, surpasses Nasdaq during dot-com frenzy by one measure

The artificial intelligence rally has already reached historic proportions and is now passing some famous – or rather, infamous – milestones. The SOX semiconductor index has a peak price that's 62% higher than its 200-day moving average – more than double the spread of the Dow Jones Industrial Average in the run-up to Black Monday in 1987, as well as the lead-in to Black Tuesday in 1929, according to a Thursday note from Bank of America strategist Michael Hartnett. …