DBS

DBS Says AI Trade Is Turning Selective, Favouring Adopters Over Heavy Spenders

DBS says the artificial intelligence investment theme is entering a more selective phase, with markets increasingly rewarding companies that turn AI adoption into measurable productivity gains, margin expansion and durable revenue growth. The bank prefers lower-capex AI adopters while keeping exposure to infrastructure enablers, signalling a shift away from blanket enthusiasm toward execution and monetisation.