Artificial Intelligence: Then and Now

I conducted my doctoral dissertation on artificial intelligence during the early days of computer science, when AI was still in its infancy ("AI Is the Real Deal—if You Understand It. Our 5 Roundtable Pros Are Here to Help," Cover Story, Aug. 18). It is truly astounding to witness the remarkable advancements made possible by today's computing power and affordable storage, which were unimaginable back then.

When considering the artistic and ethical implications surrounding AI, it becomes evident that artificial general intelligence is not something we should expect in the near future.

Tony Wasserman
San Francisco

The Significance of Earnings and the Fed

In response to "It Will Be Earnings—Not Bond Yields—That Finish 2023's Rally" (Up & Down Wall Street, Aug. 18), Randall W. Forsyth perfectly captures the essence of the situation. Over time, a company's earnings determine its overall financial well-being. Similarly, the aggregate earnings of a large group of companies reflect the health of the economy as a whole. It is crucial to recognize that the Federal Reserve's control over the money supply and interest rates is a separate matter entirely.

B.J. Khalifah
Grosse Pointe Park, Mich.

The Importance of Midstream Infrastructure

Energy Sector Analysis: What's Missing?

The midstream infrastructure sector is a crucial part of the energy industry and comprises both master limited partnerships and C corporations. Not only does this sector provide stability and capital growth, but it also offers tax-deferred, remarkably high yields ranging from 7.5% to 10%. Additionally, these companies enhance their balance sheets by constantly reducing leverage and increasing equity buybacks.

Elliot Miller
Naples, Fla.

Potential Portfolio Boost with BioNTech and Moderna

I wholeheartedly agree with Andrew Bary's viewpoint that both BioNTech and Moderna can significantly boost my portfolio in a short time ("Buy Moderna and BioNTech Stock. Both Pharmas Have Strong Drug Pipelines and Plenty of Cash," Aug. 18). These two companies have generated billions of dollars in profits since December 2020 through the development of Covid-19 vaccines. With their groundbreaking RNA technology, they possess the potential to combat other devastating diseases as well. It's worth mentioning that I currently have investments in both of these companies and I'm eagerly awaiting my next booster shot.

Martin Blumberg
Melville, N.Y.