Don't worry about AI demand
QQQ•UBS Global Wealth Management CIO Mark Haefele said industry data points to robust AI demand, citing consumer AI agent adoption and semiconductor revenue. He expects upcoming third-quarter earnings to offer further evidence of demand for AI computing and infrastructure.
1. AI demand outlook
Mark Haefele, chief investment officer at UBS Global Wealth Management, said recent industry data points to robust AI demand, despite market jitters ahead of earnings season. He cited early adoption of consumer AI agents and semiconductor revenue as signs of sustained demand for computing.
2. Earnings and monetization
Haefele said upcoming third-quarter earnings are likely to offer further evidence of demand for AI computing and infrastructure. He also said average cloud revenue growth is expected to have increased in the September quarter, and that consumer AI agents could expand monetization through subscriptions, advertising and transactions.
