Global companies involved with artificial intelligence (AI) have risen nearly 18% in 2025 as of July 29, according to the Morningstar Global Artificial Intelligence Select Index. This outpaces 8.9% and 12.5% returns for the Morningstar US Market and Morningstar Global Markets Indexes, respectively, for the same time period.
The Morningstar Global Artificial Intelligence Select Index is designed to deliver thematically pure exposure to companies involved with AI technologies by drawing on the forward-looking insights of Morningstar’s equity research team. The index targets stocks with exposure to generative AI, AI data & infrastructure, AI software, and AI services. As of midyear, the index held approximately 50 stocks, with Advanced Micro Devices Inc. (AMD), Broadcom Inc. (AVGO), and NVIDIA Corp. (NVDA) among its top ten weighted constituents.
Brian Colello, CPA, Senior Equity Analyst, Morningstar:
“We see few signs of AI demand slowing down in any meaningful way. Leading tech companies have suggested that the rise of AI might be more meaningful to society than the internet, and all of these leaders are investing heavily. Meanwhile, AI usage is supporting these investments—it makes little sense to hoard AI equipment with short useful lives, so we still view these investments as paying off handsomely in the near term and likely for much longer.”
Daniel Prince, CFA, Managing Director at BlackRock:
"Long-term thematic AI investing is not just about investing in today’s largest tech stocks — it is about identifying underappreciated areas within AI that are well-positioned for long-term growth and going beyond today’s market leaders. We are still in the build phase of the AI stack and expect meaningful adoption and transformation to unfold over the next decade, making it critical to look beyond short-term hype and focus on durable, forward-looking opportunities."
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