By Nell Mackenzie

(Reuters) - Technology stocks were a top pick for hedge funds ‌last week, with speculators hoovering them up ‌at the fastest pace in nearly three months, according to a ​Goldman Sachs note to clients late on Friday.

Companies that might profit in any way from developments in artificial intelligence, particularly semiconductor and chip manufacturing, have ‌skirted the Iran war's ⁠dour effects on the global economy.

Here is how hedge funds bet on AI ⁠optimism last week:

• Technology stocks were bought in every major region except Europe.

• Buying was led, in ​dollar terms, ​by North America and ​Asia emerging markets.

• Hedge ‌funds bought back stocks to close previous positions that bet on a drop in those prices.

• They also put on so-called long positions, which assume those assets will gain in value.

• Speculators bought ‌semiconductor-related manufacturers, as well as ​software companies.

• They sold communications ​equipment and IT ​services providers.

• Hedge fund portfolios hold their ‌largest technology positions relative to ​the MSCI ​world index in over five years.

• Bets on global information technology stocks now hover at ​record highs dating ‌back to 2016, when Goldman Sachs Prime ​Brokerage began tracking these trades

(Reporting by Nell Mackenzie; ​Editing by Amanda Cooper)

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