UBS: AI may continue to drive long-term stock performance.

UBS Global Wealth Management's Chief Investment Office research report states that, despite short-term volatility, AI may continue to drive long-term stock performance. UBS predicts that global AI spending will reach $360 billion in 2025, a 60% increase, and further grow to $480 billion in 2026. The office points out that the recent results of the four leading global cloud platforms show a strong 24% year-on-year revenue growth, and adds that the strong growth of cloud businesses should narrow the gap between AI spending and commercialization realization. The increasing adoption of AI in various industries and companies of different sizes also supports the narrowing of this gap. While optimistic about long-term trends, UBS tends to better balance exposure between semiconductor and software stocks in the near term to deal with volatility.