US equity funds draw weekly inflows as AI boost sparks renewed demand

FILE PHOTO: AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -U.S. equity funds attracted fresh cash in the week to September 24, snapping two-weeks of outflows, as risk sentiment improved following Nvidia’s announcement of a potential $100 billion investment in OpenAI.

Investors bought a net $12.06 billion worth of U.S. equity funds during the week, after a $39.91 billion outflow in the prior seven days, data from LSEG Lipper showed.