While that’s a far cry from the 69% boom in US power stocks, investors including BlackRock Inc., JPMorgan Asset Management and Ninety One Plc are betting the European names can close the gap as they benefit from hundreds of billions of dollars in global AI spending.
As the artificial intelligence frenzy drives global equities to record highs, in Europe the momentum is flowing into industries critical to powering the technology.
A basket tracking shares of 10 European firms such as data centre operators and infrastructure providers has rallied 23% this year, beating a 12% advance in the Stoxx Europe 600 Index and even outperforming the Nasdaq 100, home to the US tech heavyweights.
