India's AI enablers up 60% as Nifty falls 12%
Business
While India's Nifty index dropped 12% this year, a group of 42 "AI Enablers" stocks (think companies in power, semiconductors, and data centers) shot up by 60%, according to Goldman Sachs.
Picks like Adani Green Energy and Tata Power are riding the global AI wave behind the scenes, showing that India is quietly fueling the tech boom even as the broader market struggles.
Goldman Sachs values AI enablers $670B
Goldman Sachs says these firms now have a combined value of $670 billion and have even outperformed health care.
Their big boost comes from building AI infrastructure, a trend set to keep profits growing into 2027 and 2028.
Even though their stock prices look pricey right now, analysts say it's because investors expect serious earnings growth ahead.