AI Boom Is ‘Trickling Down’ to Old-Line Stocks, Wells Fargo Says

AI Boom Is ‘Trickling Down’ to Old-Line Stocks, Wells Fargo Says The flood of AI spending by big tech companies is “trickling down to the broader economy,” according to Wells Fargo & Co., which says that’s poised to push up industrial stocks. Strategist Ohsung Kwon is confident that the rising number of data centers will be a boon for the sector. Capital-goods firms — which produce machines, equipment and tools used to build them — are the “biggest AI-adjacent” stocks right now, Kwon wrote in a note Tuesday, echoing the semiconductor industry that has also become tethered to AI.