AI buildout will happen over the coming years not months, says Sanctuary Wealth's Mary Ann Bartels

Market Outlook - Markets tend to rally, making it the best time of the year [1] - The market is in a secular bull market, meaning the trend is higher [8] - Expects volatility from time to time, but maintains a long-term target of 10,000 to 13,000 for the S&P [9] - Believes a new market cycle started recently [11] - A 15-20% pullback could occur at any time, but markets are expected to go higher if fundamentals remain solid [12] - Has never seen a market peak or major down cycle while the Fed was cutting interest rates [13] AI and Technology - The digital era brings new innovation in technology, with AI being a key development [2] - Earnings are starting to reflect the impact of AI on companies [2] - This earning season, earnings are up about 15% year-over-year, 7% better than analysts' forecasts, driven by tech companies [3] - Semi-conductors are leading the way in technology development [4] - The demand for technology upgrades is insatiable and will take years to fulfill [4] - The total buildout for data centers, AI, and related energy demand is estimated to be $7 trillion [7]