Emerging AI Trends In 2024: BlackRock Sees Shift Beyond Semiconductors, Cloud To Model Infrastructure
Portfolio Pulse from Surbhi Jain
BlackRock's Investment Institute's 2024 Global Outlook suggests AI investment opportunities are shifting from semiconductors and cloud computing to AI Model infrastructure. Companies like NVIDIA, AMD, Alphabet, Microsoft, and Broadcom have benefited from the AI boom in 2023. BlackRock highlights IBM, Salesforce, Accenture, and Kyndryl as key players in the AI Model infrastructure space, with IBM acquiring StreamSets and webMethods, and Accenture acquiring Ammagamma. BlackRock is overweight on AI theme in developed market stocks for the next 6-12 months, expecting tech sector earnings to drive U.S. corporate profit growth in 2024.
December 19, 2023 | 1:22 pm
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POSITIVE IMPACT
Accenture's acquisition of Ammagamma to enhance AI capabilities could be viewed favorably by investors, potentially impacting ACN's stock in the short term.
Accenture's acquisition of Ammagamma is a strategic investment to bolster its AI services, which could be perceived as a growth indicator by investors. This acquisition may lead to positive investor sentiment and a potential short-term rise in ACN's stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
BlackRock's positive outlook on AI Model infrastructure and its overweight stance on AI in developed market stocks could attract investor interest in BLK shares.
BlackRock's report is a strong indicator of the company's strategic direction and thought leadership in the investment community. Their overweight stance on AI could lead to increased investor confidence in their ability to identify and capitalize on emerging trends, potentially driving up BLK's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Salesforce's emphasis on the importance of data strategy in AI could reinforce investor confidence in CRM's approach to leveraging AI for customer relationship management.
Salesforce's recognition of the AI revolution being a data revolution aligns with industry trends and could strengthen investor perception of the company's strategic direction. This alignment may lead to positive sentiment among investors, possibly resulting in a short-term uptick in CRM's stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
IBM's acquisition of StreamSets and webMethods for $2.3 billion to enhance AI and hybrid cloud capabilities could be seen as a positive development for IBM's stock.
IBM's recent acquisitions are directly aimed at strengthening its position in the AI and hybrid cloud market. Such strategic moves are likely to be viewed positively by investors, as they can lead to new revenue streams and enhance IBM's competitive edge, potentially leading to a short-term increase in stock price.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Kyndryl's strategic alliances and increased interest from 13F filers could indicate a positive outlook for KD's stock in the short term.
Kyndryl's alliances with major tech companies and the noted increase in interest from 13F filers suggest that the market is recognizing its potential in the AI space. This could translate into positive momentum for KD's stock in the short term.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 60