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India’s AI infrastructure stocks rally despite a weak Nifty 50
Goldman Sachs flagged 42 AI enablers, with the group up an average 60% since Jan. 1, versus a 12% decline in the Nifty 50.
Investors in India are increasingly gaining exposure to the AI boom through companies tied to the buildout of power systems, data centers, electrical equipment, and semiconductors, rather than through pure-play AI names, according to LiveMint Markets.
The outlet reports that a weak broader market did not prevent AI-linked infrastructure stocks from delivering outsized gains this year.
In a 17 September note, Goldman Sachs research identified 42 companies it dubbed “AI enablers” spanning power infrastructure, data centre hardware, semiconductors, and other parts of the supply chain.
LiveMint Markets said those 42 names recorded an average 60% rise in stock prices since 1 January, while the Nifty 50 fell 12%.