Barclays has named several global stocks that are expected to perform well as the use of artificial intelligence-related services increases. The investment bank has admitted that hardware and infrastructure giants, especially he Nvidia and Microsoft, are now quickly benefiting from the AI hype. Still, in the long run, companies in the services sector could make big profits, he said. Companies in Barclays’ Global AI Winners basket include Canada-based Telus and France’s Capgemini. Shares of the customer service, digital strategy and consulting services companies are expected to rise 67% and 31%, respectively, according to analyst target consensus compiled by FactSet. “While we believe that most of the near-term economic value attached to AI will come from a few major players in the underlying hardware segment of the AI value chain, long-term Such innovation and adoption should ultimately benefit mainly technology companies,” Barclays analysts led by Emmanuel Cau said in a June 22 note to clients. Capgemini was also among the companies identified by Goldman Sachs earlier this month as potentially growing stocks for AI applications across media. and long term. The table below shows the non-US stocks included in Barclays’ AI stock basket. Companies from Japan and Taiwan dominate the list, with six companies from each country making the list. Taiwanese companies included chip makers such as TSMC, Gigabyte, Global Unichip and Alchip, while Japanese companies included high-tech component makers such as Lasertec and Tokyo Electron. Barclays also expects SoftBank to reap the long-term benefits of AI thanks to its investments in many startups and technology companies. Barclays has identified Germany’s SAP and UK’s Sage Group as potential long-term beneficiaries in Europe. Both companies provide customers with several customer support, human resources, and accounting tools, giving them access to vast amounts of data critical to making AI a reality. Similarly, Amsterdam-based Adyen stands to benefit from increased AI adoption, according to Barclays. The fintech and payment services company has previously admitted to using AI to improve fraud detection and customer support. Dutch company ASM and its former subsidiary ASML have also been named as net beneficiaries of the AI trend. The two companies make tools that enable the production of high-tech semiconductor chips that power chatbots such as ChatGPT.
