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Even GDP growth should translate to a 400% increase in water demand by 2050. The First Trust Water ETF (FIW) has an average annual return of 10.5% over the past decade, according to FactSet, and is the top rated fund in the space by Bank of America ETF strategist Jared Woodard. As the impending realities of water scarcity become clearer, we expect water funds to benefit," Woodard said in a Nov. 6 note. FIW ALL mountain The First Trust Water ETF (FIW) has a solid long-term track record. Ferguson's clients include large commercial buildings and water utilities.
Persons: Haim Israel, Jared Woodard, FIW, Woodard, Industrials, Ferguson, Ecolab . Roper Organizations: Bank of America, Water, Trust, Companies, Roper Technologies, Neptune Technology Group Locations: industrials, Minnesota
Data centers are perfectly positioned to take advantage of this trend, according to BofA. David Barden breaks down the opportunity for data center REITs, and which companies will profit. 2 data center giants ready for liftoffWith data centers poised to profit from the AI explosion, the only question remaining is which data center providers make the best investments now. "DLR's business model should, however, position it to develop facilities with the power density required to host large AI model Training," Barden wrote. While Equinix can capitalize on AI sooner rather than later, Digital Realty Trust's larger capacity makes it perfect for "larger, longer-dated AI training model environments," Barden wrote.
Persons: David Barden, Haim Israel, Barden, EQIX Organizations: Semiconductors, Software, Bank of America, Realty Trust, Digital Realty Trust, Digital Realty
Artificial intelligence (AI) may be having its "iPhone moment," according to Bank of America. In fact, the firm has cited an estimate from PwC that AI's economic impact could be $15.7 trillion by 2030. "This could be the 'iPhone moment' for AI." And like smartphones existed prior to the iPhone, AI predates ChatGPT by many years. At that rate, AI could be a million times more powerful than ChatGPT is now in the next 10 years, Israel wrote.
Experts at BofA and UBS recently wrote about their approaches for investing in the theme. Tech analyst Dan Ives doubled his price target on AI pure play C3.AI, which has soared almost 150%. One of the market's splashiest artificial intelligence newcomers is here to stay, says Wedbush tech stock analyst Dan Ives. On Friday Ives boosted his price target on AI software company C3.AI from $13 per share all the way to $24. "The company continues to experience increased demand for its AI solutions that are designed to increase a range of applications across industries fueling tailwinds in the market," Ives wrote.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA.I. 's immediate winners will be hardware providers and data centers, says BofA's Haim IsraelHaim Israel, head of global thematic research at Bank of America, and CNBC's Steve Kovach join 'The Exchange' to discuss the industries positioned to benefit from AI technology, mass adoption of AI chatbots, and Meta introducing its own large data set model for AI.
Just like the internet and the smartphone, artificial intelligence could dramatically alter the world we live in. And, Bank of America has some pointers for investors looking to play this burgeoning trend revolutionizing the tech industry. Given this backdrop, Bank of America highlighted 15 stocks poised to benefit from AI tailwinds in a seperate note to clients Tuesday. Along with AI frontrunners Alphabet and Microsoft , Bank of America sees Nvidia as one of the biggest AI beneficiaries. Adobe and Baidu , which plans to launch its own artificial intelligence chatbot, were also included in Bank of America's list.
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