Feb. 19 at 8:44 PM
The tech story in 2026 is dominated by AI and autonomous agents. Semiconductor stocks tied to AI data centers are surging, with Amazon, Alphabet, Meta, Microsoft, and CoreWeave projecting combined AI infrastructure investments approaching
$750 billion. The iShares Semiconductor ETF is up 19% so far this year, building on 40% gains in 2025.
Meanwhile, software and information services are under pressure, as investors fear large language models (LLMs) like ChatGPT, Claude, and Gemini can automate coding and knowledge work, potentially devaluing enterprise software. Big names like Salesforce are trading at record-low P/E ratios, down nearly 30% in 2026.
Coding is the most commercialized LLM use, with tools like Claude Code and desktop agents such as OpenClaw and Claude Cowork enabling automated multi-step tasks. These agents dramatically accelerate development, though they pose security risks, prompting cybersecurity firms to monitor and restrict their use.
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