It starting to look like some of the fervor over AI stocks may be dying down. Tematica Research Chief Investment Officer Chris Versace says the hype over AI stocks reminds him of the early days of the internet. Versace says that although we are starting to see some benefits to AI, there is "a lot more to go." "My fear is, despite the very good guidance that Nvidia gave, that we just see too many companies mentioning wherever they can the promise of AI and the disruptive power on its business," Versace says. Versace goes on to say that "the more concrete examples we have of where AI is showing real benefits to companies, I think, the more real the AI revolution becomes, in the near term." The biggest winner of this AI hype cycle has been Nvidia (NVDA). Versace admits his firm missed out on Nvidia's move, having chosen to invest in Marvell Technology (MRVL). When it comes to Nvidia, Versace says "the easy money has been made. I think they need to show a lot more progress on what they're doing and really start to deliver on that guidance."

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