AI-related industries have experienced accelerating growth from 2023 through year-to-date 2026. Across the board, major players in hyperscalers, semiconductors, hardware, power, and software are reporting double-digit growth, with semiconductors emerging as the clear leader thanks to surging demand and constrained supply. While AI is already driving earnings growth for companies developing the technology, early data also suggests that businesses adopting AI are beginning to see earnings benefits, pointing to a broader economic impact beyond the technology sector itself.
Source: FactSet, MSCI, Standard & Poor’s, J.P. Morgan Asset Management.
Data are as of October 30, 2026.
This graph was produced by Lucas Juery, CFA, CFPⓇ and is not intended to provide financial advice.
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