Barclays Private Bank
Investing in task-specific AI applications within fields where AI unlocks productivity gains, by automating a large share of an occupation’s tasks, appears more promising to us than banking on “breakthrough” developments from the competing producers of frontier models.
BNY
We expect technology to continue to drive profit margin improvements and earnings growth as AI ramps up and increasingly impacts our lives. We believe AI’s role in the world will surpass that of other technologies that propelled earlier periods of tidal change, such as the internet, mobile phones and the cloud. Gains will not be limited to technology companies; productivity enhancements will be distributed across all sectors as other industries embrace new business practices. We continue to recommend an overweight to US large cap stocks in 2025.
Capital Group
AI may be overhyped and bigger than you think. The so-called hyperscalers — Alphabet, Amazon, Meta, and Microsoft — are spending about half of their capex budget on technology and half on buying land, constructing as many data centers as possible near reliable power and locking in long-term contracts with energy suppliers. That should provide investment opportunity for years.
Evercore ISI
Our outperform rated sectors are Communication Services, Consumer Discretionary, and Information Technology. Exposure to secular AI trends – as either Enablers or Adopters – features prominently in our selection.
Evercore ISI
As AI tools move beyond the confines of chatroom applications and enter the arenas where goods and services get produced through the proliferation of Autonomous Agents and Robotics, Generative AI’s applications will become increasingly apparent.
Franklin Templeton
Global equity investors can also tap into important themes to augment portfolio returns. Infrastructure buildouts in transportation, energy and communications remain pressing needs worldwide. Digital finance promises catalysts for financial disintermediation, innovation and growth. Demographic trends will continue to bolster asset gathering and asset management. And the rapid adoption of artificial intelligence (AI) creates vast opportunities across almost all industries.
Goldman Sachs Asset Management
This is an era of disruption. Geopolitics, supply chain shifts and the rise of AI will remain prominent themes. We believe mapping their long-term implications, identifying opportunities at their intersection, and strategically allocating capital across public and private markets can drive positive financial and real-world impact.
Jefferies
We remain positive on utilities on continued investment into AI which is energy intensive. With central bank rates coming lower, we see real estate sector picking up though there would be variations across regions.
JPMorgan Asset Management
Secular spending on AI, the energy transition and diversifying supply chains are also providing sizable tailwind for the market. The “hyperscalers” are accelerating capex to upwards of $200 billion this year and 2025 is set to be another year of significant investment. This spending will benefit areas of the market like data center real estate, engineering and construction, nuclear and renewable power, energy transmission, gas-powered electricity, cooling technologies and the electrical components that connect it all.
JPMorgan Wealth Management
Businesses and governments are primed to spend: 2025 will be the year of capital investment. Margins are elevated, profits and C-suite confidence are on the rise, and policymakers are focused on supporting growth. Three global trends require enormous investment: AI, power and energy, and security.
Ned Davis Research
We see several transitions impacting our thematic outlook for 2025. Moving to a crypto-friendly SEC, a greater software focus in AI, and more durables in demographic spending top our list.
Nuveen
Other attractive infrastructure plays: local electricity transmission facilities and data centers powering the artificial intelligence boom.
Russell Investments
We think that the new US administration’s focus on deregulation and tariff-based policies could reduce market concentration, potentially supporting active-manager outperformance. We and our active managers are focused on sectors where AI adoption is accelerating, such as industrials, healthcare, and consumer goods. We believe companies leveraging AI for productivity improvements are well-positioned to gain a lasting competitive edge and generate strong returns.
T. Rowe Price
While the initial rapid growth phase may be over, AI remains a powerful productivity enhancer for the global economy. What does that mean for investors? Transitioning to AI’s next investment phase. Innovative “linchpin” companies—with strong fundamentals—offer strongest growth prospects.
Truist Wealth
Our tactical sector preferences, which tend to be shorter term in nature, continue to be technology, communication services, and financials. The AI story remains a dominant theme of this bull market, and profit trends remain superior to the overall market. Financials should benefit from pro-growth policies, deregulation, and rise in mergers and acquisitions.
Wells Fargo Investment Institute
We expect the AI theme to broaden, benefiting companies across many sectors and industries typically more removed from the technology-related sectors. We anticipate long-term tailwinds for energy infrastructure investing. Industrial equipment (electrical, HVAC, generators, water utility infrastructure, midstream energy, nuclear power, and construction materials) is needed to build the infrastructure of a world driven by this emerging technology.
UBS
Artificial intelligence and power and resources constitute two opportunities within equities with the potential to provide significant and sustained profit growth, that could earn investors in these areas outsized long-term returns.