Core Insights - Big tech companies are projected to invest over $500 billion in infrastructure, primarily related to artificial intelligence, in 2026, which could lead to a significant increase in tech capital expenditures as a percentage of GDP, reaching levels seen during previous tech investment cycles [2][3] - The current investment cycle in AI may resemble the Zoom boom rather than the Dotcom Bubble, as the Federal Reserve's accommodative monetary policy could sustain stock market growth even if AI capital expenditures decline [3][6][10] - Concerns about the sustainability of the AI-driven stock market rally have emerged, particularly as tech stocks experienced volatility in late 2025, raising questions about their future performance [4][8] Investment Trends - Historical patterns indicate that tech stocks typically lag the market about a year before the peak of capital expenditure cycles, suggesting potential risks for AI-related stocks [3] - The Federal Reserve's current stance indicates a likelihood of rate cuts, which could support stock valuations by lowering real yields, thereby benefiting tech stocks [6][10] - The tech sector's performance in 2021 was influenced by declining real bond yields, which are crucial for stock valuations, and the sector did not experience a downturn until the Fed's rate hikes began in 2022 [5] Market Dynamics - The tech sector's significant share of the S&P 500 makes the index more susceptible to declines in tech stocks, raising concerns among Wall Street analysts about the sustainability of the AI rally [8] - Lower interest rates and tax cuts from recent legislation could enhance stock market liquidity and economic growth, potentially mitigating the impact of sluggish tech stock performance [9]

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal! AI is eating the world—and the machines behind it are ravenous. Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink. Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and b ...

长沙晚报掌上长沙1月8日讯（全媒体记者 刘军）A股三大指数8日走势分化，沪指震荡整理，日线收 出"15连阳"，深证成指与创业板指走势较弱。截至收盘，沪指跌0.07%，收报4082.98点；深证成指跌 0.51%，收报13959.48点；创业板指跌0.82%，收报3302.31点。沪深两市成交28265亿元，较7日缩量552 亿元。 行业板块涨多跌少，船舶制造、航天航空、工程咨询服务、风电设备、光伏设备、互联网服务、水泥建 材板块涨幅居前，能源金属、保险、证券板块跌幅居前。个股方面，上涨股票3731只，涨停111只；下 跌股票1595只，跌停6只。 8日走强的另外一个板块就是AI应用、工业软件方向，八部门印发《"人工智能+制造"专项行动实施意 见》，正式吹响了AI与工业深度融合的号角。这份重磅文件以推动"两化融合"为主线，为人工智能技术 在工业领域的落地奠定了良好的基础。 从技术上来看，沪指在7日收出十字星后再次收出近似十字星，深证成指与创业板指连续两个交易日收 出"十字星"，意味着三大指数都面临变盘。并且，日线图上，KDJ线中J线也呈下降之势；7日与8日主 力资金都是大幅流出的，因此，未来几个交易日，大盘调整 ...

Group 1 - Alphabet (Google's parent company) reported $12.56 billion in new buys by top mutual funds, with an additional $2.37 billion worth of Google stock purchased by leading money managers in the latest report [3] - Google maintains a strong demand with a 1.6 up/down volume ratio, indicating positive market sentiment [3] - Eli Lilly, Google, and Bloom Energy are highlighted as key stocks in focus for investors [6] Group 2 - The stock market experienced significant movements, with the Dow gaining nearly 500 points and the S&P 500 reaching a new high [8] - Analysts are optimistic about Google and Nvidia, identifying them as stocks to watch for potential growth [8]

Altimeter Capital has reportedly exited its significant position in Meta Platforms Inc. (NASDAQ:META) , with founder Brad Gerstner stating Tuesday that the social media giant is not currently a market leader in artificial intelligence (AI).Check out META’s stock price here.The AI Leadership GapSpeaking on CNBC's "Halftime Report," Gerstner revealed why Meta was conspicuously absent from his top holdings list for 2026.Altimeter originally invested in late 2022, riding the stock’s surge from roughly $90 a sha ...

Hyundai Motor shares rallied Wednesday, as the South Korean auto giant disclosed plans to step up its robotics and artificial-intelligence push. ...

7 January 2026 | 6:21AM SGT Portfolio Strategy Research Sunil Koul +44(20)7051-4931 | sunil.koul@gs.com Goldman Sachs International Bruce Kirk, CFA +81(3)4587-9950 | bruce.kirk@gs.com Goldman Sachs Japan Co., Ltd. Amorita Goel, CFA +65-6654-5445 | amorita.goel@gs.com Goldman Sachs (Singapore) Pte ASIA-PACIFIC PORTFOLIO STRATEGY 2026 Outlook: Room to run, but a tighter leash Our positive stance on Asian equities rests on mid-teen earnings-driven returns. Higher starting valuations point to a good year, albei ...

Market Performance - The S&P 500 closed 16.4% higher for the year, marking its third consecutive double-digit annual gain, while the Nasdaq gained 20.4% and the Dow finished 13% higher [2] - Despite a recent downbeat finish, major U.S. stock indexes ended the year with strong gains, with the S&P 500 experiencing a 0.7% decline on the last trading day of the year [1][2] Influencing Factors - Wall Street's gains in 2025 were driven by optimism surrounding artificial intelligence (AI) and its potential to boost profits across various sectors [3][6] - The market faced turbulence due to President Trump's fluctuating tariffs on imports and uncertainty regarding interest rate trajectories [3][4] Profitability Concerns - There are concerns that AI technology may not generate sufficient profits and productivity to justify the investments, which could impact stocks like Nvidia and Broadcom that contributed significantly to market gains [7] - Overall market stocks are perceived as expensive, having risen faster than their underlying profits [8]

Core Viewpoint - Hong Kong-based accounting firms are planning to expand their workforce in 2026 while increasing the use of artificial intelligence (AI) to support staff and attract new talent to the profession [1] Group 1: Workforce Expansion and AI Integration - KPMG China emphasizes that AI is not a replacement for human workers, and there has been no reduction in hiring; the firm plans to continue hiring in the future [2] - AI is seen as complementary to human staff, improving quality and efficiency while aiding in talent attraction and retention [2] - Deloitte China plans to hire approximately 1,000 people in Hong Kong and invest HK$500 million (approximately $64 million) over the next four years to enhance capabilities in fintech, capital markets operations, and AI [4] Group 2: Talent Attraction and Job Role Evolution - EY's senior partner highlights that young professionals are interested in careers in debt restructuring and liquidation, expecting employers to provide AI tools to enhance efficiency [5] - EY plans to expand its team from 80 to 130 by 2026, anticipating increased demand for debt restructuring and liquidations due to a weak economy [5] - AI is enabling accountants to take on new job roles, which aligns with the interests of younger professionals [3] Group 3: Efficiency and Document Management - AI is effective in analyzing large data sets, detecting anomalies, and summarizing documents, significantly improving efficiency in restructuring and liquidation processes [6] - The use of AI has accelerated paperwork analysis by over 10 times, making these roles more appealing to young talent [7] - Companies are increasingly open to preventive restructuring to adapt to uncertainties such as geopolitical tensions and tariffs [6]

Market Performance - The S&P 500 increased by approximately 16% and the Nasdaq 100 gained nearly 21% in 2025, driven largely by artificial intelligence as a key return driver [2] - Gold was the standout asset in 2025, rising about 68%, while Bitcoin declined roughly 5% despite its growing institutional presence [3] Economic Outlook - There are few signs of an imminent economic slowdown, although a K-shaped economic recovery persists, with high living costs contrasting booming asset markets [4] - The investment landscape remains favorable, with technological innovation, geopolitical uncertainty, and abundant liquidity expected to drive returns into 2026 [5] Sector Insights - Big Tech continues to dominate, with strong revenue growth and profitability, expanding into areas like cloud computing and autonomous driving [6] - The AI infrastructure cycle is ongoing, with significant capital expenditures projected to exceed $500 billion, indicating a multi-year buildout [11] - Solar energy has emerged as a strong performer, with costs for photovoltaic modules dropping by about 90% over the past decade, making it one of the cheapest power generation sources [29][30] - Oil and gas remain essential, with natural gas demand accelerating and oil prices stabilizing after recent volatility [32][36] Investment Strategies - Aligning portfolios with durable economic megatrends has proven successful, with a focus on sectors like healthcare and biotech, which are showing signs of recovery [10][44] - The Magnificent Seven stocks are expected to see earnings growth of 16.5% in 2026, driven by strong revenue growth and the integration of AI technologies [16][18] - Healthcare stocks have outperformed in the final quarter of the year, supported by stable demand and improving earnings visibility [44][46] Alternative Assets - Gold has seen a significant rise, increasing nearly 70% this year, and is viewed as a portfolio diversifier amid rising geopolitical tensions [38][40] - Bitcoin is increasingly recognized as a legitimate alternative for hedging risk, with its narrative as "digital gold" gaining traction [42]