STORY: Also concerning to Brown how is few stocks are performing well, despite the S&P 500 and Nasdaq hitting multiple record highs this month.

She described investors as being in a "buy and hold" mindset - mostly clinging to high-flying megacap tech stocks amid an AI frenzy - without a "huge amount of activity or rotation in the market."

Brown noted that the second-best performing sector was utilities, which she said was unusual in a high-interest rate environment. But they, too, are benefitting from AI.

As companies "adopt AI strategies," said Brown, "they need more computing power, and therefore they need more electricity."