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Stock impact report

Market Outlook: AI spending boom faces its first real test in 2026 [BNN Bloomberg (Canada)]

GE Vernova Inc. (GEV) 
Company Research Source: BNN Bloomberg
As that investment wave matures, attention is shifting toward returns, balance sheets and where profits ultimately accrue. BNN Bloomberg spoke with Nicholas Mersch, portfolio manager at Purpose Investments, about why 2026 could mark a turning point for AI investing, how rising debt is changing investor expectations and which parts of the ecosystem may benefit next. Key Takeaways The AI buildout reached an inflection point in 2025, with capital spending approaching levels rarely seen in modern economic cycles. While last year's rally lifted most participants, 2026 is expected to separate sustainable AI winners from weaker, overextended players. Growing use of debt financing is forcing investors to demand clearer paths to monetization and return on investment. Near-term value is likely to accrue to hardware bottlenecks, hyperscalers with scale and balance-sheet strength, and power-constrained infrastructure. AI adoption beyond technology — including healthcare, logistics a Show less Read more
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