Beyond Big Tech: How AI Could Lift a Wider Range of Sectors

Much of the market conversation over the past year has centered on the extraordinary gains generated by companies at the heart of the AI revolution. Semiconductor firms, cloud platform providers, and so-termed “hyper-scalers” have been the most visible beneficiaries of an unprecedented investment cycle tied to artificial intelligence.¹

But as we look toward 2026, the next stage of the AI story may look less like a narrow rally and more like an economy-wide transformation, benefitting a wide range of sectors, not just Technology. In other words, the investment themes of the coming years may not be exclusively about new models, chips, or data centers.

According to BlackRock, AI is emerging as one of the largest capital-deepening cycles in modern economic history—comparable to the introduction of industrial machinery, electrification, and the early internet. The twist is that this cycle is unfolding twice as fast.

As seen on the chart below, where major innovations of the past took 10 to 15 years to scale, the adoption curve for AI is compressing far more rapidly, thanks to cloud infrastructure, mobile computing and increasingly “plug-and-play” enterprise tools.

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This rapid acceleration means that AI’s economic impact may begin to spill over into many more sectors of the market, more quickly. For decades, the U.S. economy has been locked in ~2% annual productivity growth. AI may break that pattern.

There are early signs of this transition already. Corporate leverage remains relatively low outside of the mega-cap technology sector, which gives companies across the economy room to invest in tools that raise efficiency. It’s easy to imagine a company making capex investments to enhance process automation, supply chain optimization, and AI-enhanced customer analytics. And while the past year has been dominated by hyper-scalers racing to build AI capacity, 2026 may be the year that downstream industries begin adopting AI at a broader scale.

Consider the math. BlackRock’s analysis suggests that to justify the level of investment already underway, the world’s largest tech companies may need to generate roughly $1.7 to $2.5 trillion in additional revenue by 2030. That kind of growth is not achievable by selling AI services to each other. It requires adoption by healthcare systems, manufacturers, financial firms, logistics companies, media platforms, energy producers, and others. Put differently, the investments tied to AI capabilities must move outward into the broader economy.

That diffusion could, in turn, reshape leadership across sectors. Industrials may see rising demand for automation, robotics, and digitization as firms seek to increase output without materially expanding labor costs. Energy producers and utilities may benefit from improving system efficiency while also supporting the power needs of expanding digital infrastructure. Communication services could capitalize on AI-optimized advertising, content creation, and network management. Even materials companies may participate as infrastructure and construction needs expand.

All of this suggests that AI’s next act could look different from the last. As productivity gains begin to surface and investment spreads beyond the largest technology companies, leadership may widen to include industrials, energy, communication services, infrastructure, and select international markets—all areas that AI could touch in meaningful ways. That does not diminish the importance of the sector leaders who have powered the first leg of the AI cycle. Rather, it recognizes that innovation on this scale tends to create ripple effects that move through the entire economic system.

Bottom Line for Investors

For investors, this underscores the importance of balance and diversification across sectors, sizes, and styles. Chasing the most visible winners of a transformative trend is tempting, but history shows that the broader and more durable opportunities often emerge in the second phase of adoption. AI may ultimately reshape many aspects of the global economy, not just computing.

At Zacks Advantage, this is why our portfolios are built around diversified ETF exposure and active, research-driven allocation. The goal is not to guess which company or even which sector will best monetize AI, but to ensure investors participate in the longer-term, economy-wide benefits of innovation—wherever they ultimately appear. As AI moves from concentration to diffusion, we believe a diversified approach remains the most effective way to capture opportunity while managing risk.

Most investors can get where they need to go over the long term by owning a diversified portfolio of stocks and/or ETFs. In fact, “diversify your portfolio” is one the most basic pieces of investing advice. Sadly, in our experience many investors still put all (or most) of their eggs in one basket.

At Zacks Advantage, we strive to help every investor properly allocate their assets. In fact, we’ve put together a helpful guide to help you understand the basics of portfolio diversification, including:

• Why the average investor’s returns lag behind almost every investment category
• 4 myths of a diversified portfolio
• How to create a truly well-diversified portfolio

Get our free guide, Is Your Investment Portfolio Actually Well-Diversified? ⁴, to learn how to create a truly diversified portfolio.

Download our FREE Guide⁴

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¹BlackRock. 2026 Global Outlook. 2025.

² Zacks Investment Management may amend or rescind the Is Your Investment Portfolio Actually Well-Diversified? guide offer for any reason and at Zacks Investment Management’s discretion.

¹BlackRock. 2026 Global Outlook. 2025.

⁴ Zacks Investment Management may amend or rescind the Is Your Investment Portfolio Actually Well-Diversified? guide offer for any reason and at Zacks Investment Management’s discretion.

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