AI-linked stocks now account for nearly 45% of the S&P 500, up from ~25% in 2022, per Goldman Sachs.
AI-linked stocks now account for nearly 45% of the S&P 500, up from ~25% in 2022, per Goldman Sachs. Strong earnings and momentum have driven concentration in mega-cap tech, increasing both upside potential and vulnerability to sentiment shifts.
Summary: AI-linked stocks now account for ~45% of S&P 500, per Goldman Sachs Weighting has surged from ~25% since late 2022 Gains driven by semiconductors, platforms, and AI infrastructure names Strong earnings and margin expansion underpin re-rating Rising concentration increases sensitivity to sentiment shifts Artificial intelligence-linked companies are now approaching nearly half of the S&P 500 by market weight, underscoring the extent to which the US equity market has become concentrated around a single dominant theme. Analysis from Goldman Sachs shows that AI-related stocks account for close to 45% of the benchmark index, a sharp increase from roughly 25% at the time of ChatGPT’s launch in late 2022. The shift reflects a powerful re-rating of companies tied to artificial intelligence, including semiconductor manufacturers, cloud infrastructure providers, and large platform firms.
The increase has been steady rather than episodic. Index weightings linked to AI have climbed consistently through 2024 and 2025, with only brief pauses, suggesting the move is being driven by both structural demand and sustained investor momentum. Strong earnings growth, improving margins, and rising expectations around AI-driven productivity gains have reinforced the trend.