tech
December 23, 2025
AI spending is expected to stay strong in 2026. Barclays thinks these stocks will benefit
Barclays analysts highlighted a dozen overweight-rated stocks that it views as best-positioned to capitalize on higher-than-expected AI spending next year.
TL;DR
- Barclays anticipates a substantial increase in AI spending in the upcoming year, marking a significant capex cycle in the U.S.
- AI stocks have been responsible for 75-80% of the S&P 500's earnings and total performance.
- Easing financial conditions and a more favorable regulatory environment in 2026 are expected to drive equity valuations higher.
- Barclays has highlighted a dozen overweight-rated stocks poised to benefit from increased AI spending.
- Microsoft and Nvidia are identified as key 'Magnificent Seven' stocks expected to gain from AI spending, with Barclays offering more bullish price targets than the consensus.
- Barclays is particularly bullish on Nvidia due to its leading position in AI GPUs for data centers and potential Edge opportunities.
- JPMorgan Chase and Carvana are also mentioned as stocks that made the cut, with JPMorgan's potential upside seen in higher loan growth and capital markets.
Continue reading the original article