The global markets are an AI story…or are they?
The narrative that markets need an AI story is outdated. Leadership has shifted from Big Tech to broader markets and old-economy sectors, especially small caps. While AI spending remains strong, gains are concentrated in suppliers like semiconductors and infrastructure, not tech giants, signaling a deeper market rotation and changing drivers of global equity performance.
The narrative that markets need an AI story is outdated. Leadership has shifted from Big Tech to broader markets and old-economy sectors, especially small caps. While AI spending remains strong, gains are concentrated in suppliers like semiconductors and infrastructure, not tech giants, signaling a deeper market rotation and changing drivers of global equity performance.
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