Some of the world’s biggest money managers are searching for the next wave of artificial intelligence winners beyond the U.S.
At a time when the global euphoria about AI has propelled a three-fold surge in Nvidia and a 50% jump in a key U.S. index for semiconductor manufacturers in less than a year, investors are pointing toward emerging markets for better value and a bigger pool of options.
The asset management arm of Goldman Sachs Group said it’s looking specifically for stakes in the manufacturers of AI supply-chain components, such as cooling systems and power supplies. JPMorgan Asset Management favors traditional manufacturers of electronics that are morphing into AI leaders, while investment managers at Morgan Stanley are betting on players where AI is reshaping business models in non-tech sectors.