The artificial intelligence investment theme is entering a new phase as investors become increasingly selective about where AI spending is translating into productivity gains, stronger margins and durable revenue growth, according to Yeang Cheng Ling, Chief Investment Officer, DBS.
The AI capex cycle continues to underpin economic momentum and corporate earnings, but the investment landscape is becoming more discriminating, with investors scrutinising funding needs, free cash flow and valuations, DBS said in its 4Q26 CIO Insights, Resilience Rewarded.
