Wells Fargo Says AI Spending Will Lift Industrial Stocks as Data Centers Multiply

3 articles · Updated · Bloomberg · Aug 4

Wells Fargo said big tech’s AI spending is now spreading beyond chipmakers and is poised to boost industrial stocks.
Data-center growth is the main channel: strategist Ohsung Kwon said capital-goods companies that supply machines, equipment and tools to build them are the biggest AI-adjacent plays.
The call extends the AI trade deeper into old-line sectors, with industrial names seen benefiting as the broader economy absorbs the buildout.

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