Investment banking firm Jefferies released a new note to clients on Sunday, explaining its current position on the generative AI cycle and pinpointing the frontrunners poised to make the most of this boom.
Investments in the foundational elements of AI, also referred to as the 'picks and shovels,' have consistently outperformed, a trend evidenced in the performance of the VanEck Semiconductor ETF, which has seen a year-to-date increase of 29%, compared to a 5% increase in the iShares Expanded Tech-Software Sector ETF.
“Our AI KIS basket represents the companies we see capturing the most of this transformational opportunity. We advocate for investors to position themselves before enterprise adoption ramps in late ’24 into ‘25, providing a better line of sight to rev uplift,” they added.) as its top AI winner of the GenAI cycle, “poised to benefit from both infrastructure and app angles opportunities, capturing the most of this transformational opportunity,” its analysts noted.
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