BofA Global Fund Manager Survey: 56% of Investors Say AI Rally Is in 'Boom Phase,' Not Euphoria — FOMO Still Driving Inflows

Bank of America's June 2026 Global Fund Manager Survey found that 56% of portfolio managers describe the AI investment cycle as a 'boom phase,' in which fear of missing out draws in new participants — stopping short of 'euphoria.' The majority view implies professional investors still see runway in AI equity outperformance. A separate Goldman Sachs trading desk note published the same day argued the rally is beginning to broaden beyond AI-specific names into undervalued cyclicals.