News
AI Dominates Market Capitalization and Investment
AI infrastructure companies now represent 40% of the S&P 500 market capitalization. Only 3 chip manufacturers represent 28% of the MSCI Emerging Markets index. AI-related companies also represent 49% of investment-grade bond issuance so far in 2026. Private markets see even more concentration, with AI capturing 87% of venture capital funding year-to-date. This concentration is unprecedented, with less than 40% of venture capital funding related to internet companies in 1999 during the dot-com bubble.