Looking beyond Europe’s chipmakers

RATHER than chasing Europe’s increasingly expensive artificial intelligence (AI) chipmakers, investors are widening their search for companies that could profit from the AI boom in less obvious ways, according to a Bloomberg report.

With Europe home to only a handful of major AI and semiconductor stocks compared with the United States and Asia, fund managers are increasingly turning their attention to businesses supplying the infrastructure behind AI, as well as companies expected to use the technology to improve productivity and cut costs, the newswire pointed out.