2025-10-17T16:27:48Z
- AI stocks took the stock market to record highs in 2025.
- JPMorgan analysts estimate that a group of 30 companies generated $5 trillion for investors.
- The list of winning AI stocks includes Nvidia and Microsoft, plus some unexpected names.
It’s no secret that AI is the hottest thing in the stock market, but JPMorgan has quantified the wealth generated by American households who have invested in this trend – and it’s staggering.
A September note from the bank said that 30 AI-related names now account for about 44% of the value of the S&P 500. In an update this week, analysts said they estimated the wealth gains of those 30 names amounted to a whopping $5 trillion over the last year.
The bank’s latest note examines how this huge increase in household wealth could impact consumer spending.
“We estimate that U.S. households have gained more than $5 trillion in wealth over the last year from these 30 AI stocks, and that this will increase their annualized level of spending by about $180 billion, or 0.9% of total consumption,” JPMorgan analysts Abiel Reinhart and Michael Feroli wrote in a note Thursday.
JPMorgan says the 30 hottest AI stocks have generated $5 trillion in wealth for U.S. households. JPMorgan
“We leveraged JP Morgan’s proprietary technology to filter companies with a high frequency of AI co-mentions in news and earnings call transcripts,” the analysts said of their methodology for ranking the top 30 AI names.
Many tech stocks with heavy exposure to AI escaped volatile market conditions to continue rising in the second half of this year, pushing major indexes to a series of all-time highs.
JPMorgan, S&P Global.
Nearly half of the companies on the list of top AI stocks are in the semiconductor and hardware industry. The second most popular category is software/cloud/consulting, with two companies operating in the automotive/robotics space. Trust in digital reality is the only name operating in the data center space.
The bank is bullish on AI stocks, although Reinhart and Feroli stressed that a correction in the sector would erase a considerable portion of recent wealth gains.
“If AI stocks now represent 44% of market capitalization, then a 10% drop in their value would reduce household wealth by $2.7 trillion, and consumption
of approximately $95 billion (0.45%),” the analysts added.
Current market conditions do not yet suggest that a reversal in the AI business is imminent, and several technology leaders have reported positive earnings fueled by the AI boom as third-quarter results begin to trickle in. Morgan Stanley estimated this week that the current AI spending spree could pay for itself within a few years.
