Wells Fargo says tech banking team grew by 20% over past year

Tech stocks have grown exponentially in the past two years, with 2023 being a banner year for the sector. The Nasdaq 100 technology sector index rose nearly 7% in 2024, having soared 66.7% the year before. The use of artificial intelligence has also boosted attention towards the sector, with venture funding firms keen on financing companies leveraging the technology.