Ben Snider, Chief US Equity Strategist at Goldman Sachs, pointed out that after excluding other income, the earnings per share of S&P 500 constituent stocks increased by about 31% year-on-year in the second quarter, with AI infrastructure related stocks contributing nearly half of the EPS growth. Currently, only about 11% of S&P 500 companies have quantified the productivity improvement brought by AI, and only about 2% of companies have linked AI to profit improvement. The market mainly focuses on pricing AI sellers such as chips, memory, servers, cloud capital expenditures, and power equipment.
