Core Insights - Data center and related technology investments are a major driver of U.S. economic growth, accounting for 80% of the increase in final private domestic demand in the first half of 2025 [1][4][5] - The shift in technology company investments is moving towards a capital expenditure model similar to traditional manufacturing, indicating a significant change in investment strategies [2][5] Investment Trends - The U.S. leads in data center capacity, representing over 40% of the global total, with expectations for this share to increase [5] - Investments in data centers encompass various areas including construction, information processing equipment, software, and research and development [4][5] Economic Impact - Despite challenges such as higher borrowing costs and policy uncertainty, business investments related to AI are surging, counterbalancing weaknesses in other sectors of the economy [5] - Preliminary research indicates early productivity gains amid shifts in the labor market, suggesting a positive outlook for future economic performance [4] Future Outlook - The ongoing AI revolution and data center investments are anticipated to yield larger macroeconomic benefits in the future, although the distribution of these benefits may not be uniform across different sectors [5] - S&P Global's upcoming research journal will provide a comprehensive analysis of AI-driven data center growth, covering sector economics, energy resources, financing, and technological advancements [2]

Group 1 - S&P Global reported its third quarter results for 2025, with earnings release and supplemental materials available on their investor relations website [1] - A conference call to review the third quarter earnings results is scheduled for October 30, 2025, at 8:30 a.m. EDT [1] - The webcast of the conference call will be available live and for replay on the company's investor relations website [1] Group 2 - S&P Global provides essential intelligence to governments, businesses, and individuals, enabling informed decision-making [2] - The company is recognized for offering credit ratings, benchmarks, analytics, and workflow solutions across various global markets [3] Group 3 - S&P Global announced a strategic collaboration with Eightfold AI to enhance its talent intelligence capabilities [4] - The company plans to launch its first AI-enhanced sector rotation index as part of its S&P Dow Jones Indices offering [5]

Group 1 - S&P Global's Board of Directors has approved a cash dividend of $0.96 per share for the fourth quarter of 2025, payable on December 10, 2025, to shareholders of record on November 25, 2025, resulting in an annualized dividend rate of $3.84 per share [1] - The company has consistently paid dividends since 1937 and is among fewer than 30 companies in the S&P 500 that have increased their dividends annually for over 50 years [2] - S&P Global provides essential intelligence to governments, businesses, and individuals, enabling informed decision-making through data, expertise, and technology [3] Group 2 - The company is recognized for its credit ratings, benchmarks, analytics, and workflow solutions across global capital, commodity, and automotive markets, assisting leading organizations in planning for the future [4]

Group 1 - Brown Advisory Large-Cap Growth Strategy demonstrated resilience in Q2 2025, returning 16% and slightly underperforming the Russell 1000® Growth Index [1] - The strategy effectively protected investor capital during market declines and participated in the rebound since early April [1] - S&P Global Inc. (NYSE:SPGI) was highlighted as a key stock, with a one-month return of -2.64% and a 52-week gain of 6.18% [2] Group 2 - S&P Global Inc. reported strong quarterly results in April, with revenue exceeding expectations due to robust performance in Ratings and Indices [3] - Despite strong results, S&P Global's stock declined after the company lowered its full-year guidance, indicating a cautious outlook amid macroeconomic challenges [3] - In Q2 2025, S&P Global's revenue increased by 6% year-over-year, with subscription revenue rising by 7% [4]

Core Insights - S&P Global's President and CEO, Martina Cheung, will participate in Barclays 23rd Annual Global Financial Services Conference on September 9, 2025, in New York [1] - The session will be webcast and may include forward-looking information, with CFO Eric Aboaf and SVP of Investor Relations Mark Grant also participating in investor meetings [1] Webcast Details - The webcast will be available live and in replay on the Company's Investor Relations website, with the replay accessible for 90 days until December 7, 2025 [2] - Additional information presented during the session will be available on the Company's Investor Presentations web page [2] Company Overview - S&P Global provides essential intelligence, enabling governments, businesses, and individuals to make informed decisions [3] - The company offers credit ratings, benchmarks, analytics, and workflow solutions in global capital, commodity, and automotive markets [4]

Core Viewpoint - The article emphasizes the resilience of Philip Morris International, S&P Global, and Walmart as investment options amidst market volatility and tariff concerns, suggesting that investors should focus on dividend growth stocks that are insulated from economic downturns [1][2]. Philip Morris International - Philip Morris International (PMI) was spun off from Altria in 2008, allowing it to focus on its overseas business while Altria dealt with domestic challenges [3]. - From 2008 to 2024, PMI's adjusted earnings per share (EPS) grew at a compound annual rate of 4.4%, driven by price increases and cost-cutting measures, alongside a shift towards smoke-free products [4]. - PMI has consistently raised its dividend since the split, currently offering a forward yield of 3.6% with a trailing payout ratio of 88%, indicating potential for future increases [5]. - Analysts project adjusted EPS growth of 9% in 2025 and 10% in 2026, with a reasonable valuation at 21 times forward earnings [5]. S&P Global - S&P Global provides essential financial data and analytics services to approximately 80% of Fortune 500 companies, utilizing AI-driven tools to enhance its offerings [6]. - The company is insulated from tariffs as it offers services rather than physical goods, making its services more valuable in turbulent markets [7]. - Despite a temporary slowdown in its credit ratings business due to high interest rates, S&P Global is expected to recover as rates decline [7]. - The company has a forward yield of 0.9% and has raised its dividend for 52 consecutive years, with a low trailing payout ratio of 29% [8]. - Analysts anticipate EPS growth of 9% in 2025 and 12% in 2026, with a forward price-to-earnings ratio of 26, indicating it is not overly expensive [8]. Walmart - Walmart serves 270 million customers weekly across 10,750 stores and online marketplaces in 19 countries, providing it with significant scale to mitigate tariff impacts [9]. - Many of Walmart's suppliers pre-shipped products to the U.S. before tariffs were implemented, and the company can negotiate lower prices or adjust retail prices to manage costs [10]. - Walmart has a forward yield of 1.1% and has raised its dividend for 52 consecutive years, maintaining a low payout ratio of 34% [11]. - Analysts expect adjusted EPS growth of 5% in fiscal 2026 and 12% in fiscal 2027, with a forward price-to-earnings ratio of 31, suggesting that its core strengths may justify the higher valuation [11].