Investor argues artificial intelligence is the ‘new oil’

A prominent investor has characterized artificial intelligence as the "new oil," comparing the technology to a transformative resource with broad economic implications. The comparison reflects growing market focus on AI's potential to reshape industries and drive returns, though emerging-market stocks have faced recent pressure amid AI sector volatility, rising oil prices, and concerns over Federal Reserve interest-rate policy. Analysts say the debate over AI's economic role remains active as investors weigh the technology's long-term value against near-term market fluctuations.