The Financial Post reports in its Wednesday, Aug. 30, edition that Citigroup analyst Scott Chronert says the first wave of artificial-intelligence breakthroughs lifted the stocks of companies such as Nvidia that are at the centre of it all. A Bloomberg dispatch to the Post reports that the second wave will elevate the market at large. Mr. Chronert says in a note, "It gives the market in general a new growth thing, and we haven't really had a new growth thing for some time." The excitement about artificial intelligence was a key pillar of the stock market's rally this year. While the market's gains stalled on concern about the scale of the run-up and further rate hikes from the United States Federal Reserve, the tech-heavy Nasdaq 100 index is still up about 37 per cent this year. To start the week, the S&P 500 was headed toward its first back-to-back gain this month, with Nvidia among the top drivers of the advance. Wall Street banks remain optimistic about AI'S potential applications and are busy gaming out which corners of the stock market stand to benefit. For example, Goldman Sachs Group foresee a large jump in the earnings at the companies it is tracking that may gain most from the new technology.