AI's $40 trillion roadmap: build it, sell it, use it
SPY•Societe Generale says three AI themes—building, selling and using AI—represent more than $40 trillion in market value, or roughly 60% of the S&P 500. The brokerage reiterated its 8,000 S&P 500 target and raised its 2026 earnings-per-share forecast to $360 from $333.
1. AI themes broaden
Societe Generale’s US equity outlook groups the AI opportunity into three themes: companies building infrastructure, firms monetizing AI through software, cloud services and automation, and businesses using AI to improve efficiency, lower costs and profitability. The brokerage argues investors are overly focused on macro risks and underestimating corporate earnings and productivity gains.
2. Market snapshot
In the reported session, the Nasdaq and S&P 500 were modestly lower, while the Dow was down about 0.6%. The Euro STOXX 600 fell more than 1%, the dollar rose about 0.5%, and US crude gained more than 2%.
