BlackRock Fund: Focus on companies most likely to achieve sustainable profit breakthroughs and layout scarce opportunities related to AI
BlackRock Fund recommends focusing on companies that are expected to achieve sustainable profit breakthroughs and to invest in scarce opportunities related to AI. Based on the AI theme, it maintains an overweight view on U.S. stocks. It believes that AI can create sustainable revenue, with new revenue profit margins higher than operating profit margins. Although the ultimate winners are difficult to determine, the U.S. has advantages in chips, models, and capital markets. It tends to invest in companies with scarce resources such as chips, storage, electricity, and data centers to cope with uncertainties and seize certain growth
According to the Zhitong Finance APP, BlackRock Fund stated that it focuses on companies most likely to achieve sustained profitability breakthroughs and is positioning itself for scarce opportunities related to AI, while adopting an active strategy to uncover investment opportunities. Based on the AI theme, it maintains an overweight view on U.S. stocks.
BlackRock Fund pointed out that previous rounds of technological revolutions failed to achieve long-term productivity leaps, but AI may be different, as it is expected to create new, sustainable sources of income, and current evidence supports this view. In most sectors related to the AI value chain, the profit margins of new income are still higher than operating profit margins, indicating that AI-related income continues to translate into strong profit growth. Although the ultimate winners in AI remain difficult to determine, BlackRock Fund believes that many winners may emerge in the U.S., as the U.S. still holds a leading advantage in chips, cutting-edge AI models, and the depth of capital markets.
Within this framework, BlackRock Fund is more inclined to position itself for scarce opportunities to capitalize on the AI theme. It does not need to accurately determine which AI model or application will prevail, but it can ascertain one point: all AI systems rely on chips, storage, power, and data center infrastructure. Companies providing these scarce resources will continue to benefit from capital investment, and many companies have longer order cycles, making future profits more visible. Therefore, BlackRock Fund believes that positioning for scarce opportunities helps address the uncertainty of whether profits can be sustained and is currently the most certain AI investment approach.
BlackRock Fund stated that as AI construction gradually extends into the physical world, new opportunities are emerging in areas such as robotics, sensors, and industrial automation, further enhancing the importance of active stock selection. Opportunities are not limited to the current large technology leaders. Some small-cap companies, emerging market infrastructure suppliers, and industrial enterprises are expected to benefit from the scarce resources needed for the next phase of AI development
