According to JPMorgan Chase, U.S. tech giants are predicted to invest up to $700 billion in capital expenditure for artificial intelligence infrastructure in 2026 on May 11. The bank notes that approximately 90% of hardware from companies like Nvidia relies on Asian suppliers, positioning emerging markets as a lower-cost pathway for AI investment exposure. JPMorgan highlights that emerging market valuations remain attractive, with price-to-earnings ratios at historically low levels compared to developed markets, while investor positioning remains relatively low.
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