Artificial intelligence infrastructure providers now command 40% of the S&P 500’s total market capitalization. This specific sector has become the primary driver of global market performance, with AI-related firms also accounting for 49% of major technology-heavy equity indices.
In the international markets, a group of only three semiconductor manufacturers represents 28% of the MSCI Emerging Markets Index. These three firms alone represent nearly 30% of the total valuation for the emerging markets benchmark.