In the latest release of the (2026 Annual Outlook), the UBS Wealth Management Investment Office clearly pointed out that artificial intelligence remains one of the most important investment themes for the next two years, and is expected to continue to drive related concept stocks upward under the dual impetus of expanding capital expenditure and accelerating AI application implementation.

📈 Core Logic: Capital Expenditure + Application Penetration

UBS believes that corporate investment in AI infrastructure is still in the early stages, and cloud vendors, chip companies, and data center operators will continue to benefit. Meanwhile, the penetration of AI technology across various industries is transitioning from 'pilot' to 'scale', which will open up broader investment opportunities in application layers.

🌍 Regional path differentiation: United States vs China

Chen Minlan, Chief Investment Officer of UBS Wealth Management for the Asia-Pacific region, pointed out that the development paths of the AI boom vary in different regions.

United States: Focus on cutting-edge infrastructure and large model research and development, maintaining leadership in computing power, chips, and underlying software.

China: Focus more on algorithm efficiency improvement, technological self-reliance, and industrial application landing, with advantages in smart manufacturing, autonomous driving, and enterprise services.

🚀 Investment Insights: Layout supply chain opportunities by region

This differentiation means that investors need to make more structured choices regarding regions and industrial chain segments when laying out the AI track:

In US stocks, focus on leaders in computing power, chips, cloud architecture, and other hardware and infrastructure.

In A-shares/Hong Kong stocks, focus on industrial AI, domestic computing power, and vertical application scenarios.

💡 UBS attitude: Long-term optimistic, structural selection

Despite the significant gains in the AI sector by 2025, UBS believes that under the resonance of technological iteration, policy support, and capital investment, AI will still be a key force driving market performance in 2026, with the key being to grasp structural opportunities in different markets.

As AI shifts from theme to performance, and from models to applications, a wave of technological investment spanning East and West is entering the competitive landscape of the "second half." Thank you for likes and follows.$BTC $ETH $BNB #美联储取消创新活动监管计划