The rapid adoption of generative artificial intelligence has boosted markets this year, but after the initial euphoria, investors are waking up to the possible risks, including the need to be highly selective in stock-picking.
Businesses ranging from IT services and consulting to media, information and education are now under portfolio managers' microscopes to assess the potential for AI disruption.
The overall impact for corporate profitability is seen as hugely positive. Yet beyond Nvidia and other obvious winners in the chip sector, analysts warn there might also be losers across Europe and the United States.