Bank of America: 64% Asia fund managers want AI revenue
A new Bank of America survey shows that 64% of Asia's fund managers are done with AI hype: they want to see actual revenue before putting more money into these companies.
This marks a big shift from just betting on future potential, as investors are now looking for solid proof that AI businesses can make money.
Asia fund managers favor safer sectors
Fund managers aren't ditching tech completely, but 59% are moving more cash into safer bets like retail, utilities, energy, and banks.
Meanwhile, they're cutting back on industrials and tech hardware, especially as regional optimism regarding the semiconductor export cycle across South Korea and Taiwan tumbled.
Still, most believe AI's long-term impact is underrated, with growing interest in infrastructure like power and data centers over software or chips right now.