Money for AI keeps flowing into Europe, but it’s taking detours
Investors in Europe are looking beyond the usual AI stocks. Instead, they’re reshifting their focus to “behind the scenes” companies that make AI possible in the first place, such as banks and power companies. There is a good reason for it, too.
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Investors in Europe are looking beyond the usual AI stocks. Instead, they’re reshifting their focus to “behind the scenes” companies that make AI possible in the first place, such as banks and power companies. There is a good reason for it, too.
- Investors in Europe are moving away from direct AI stocks and instead targeting companies that support AI infrastructure.
- Banks, energy firms, and power suppliers are emerging as key beneficiaries of the AI boom.
- High valuations are pushing investors to look beyond “pure” AI names toward cheaper, indirect plays.
- Companies like ASML remain strong performers, but Europe has relatively few large pure AI-focused stocks compared with the US and Asia.
Key Takeaways by nexos.ai, reviewed by Cybernews staff.
Investors looking to profit from the AI boom in Europe are now forced to take a detour when spending their money. According to Bloomberg, the obvious AI stocks have become too expensive to purchase. Therefore, they're looking for other companies that either help AI to function or will benefit from AI.
Unlike the US and Asia, Europe has only a handful of AI-related stocks. Take the Dutch ASML, which so far has been described as a “standout performer in 2026.”
Reuters in April reported that in 2026 the company’s revenue will be between €36 billion and €40 billion, up from a previous forecast of €34 billion to €39 billion.
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The business’s shares rose 1.2% and briefly touched a new record high above €1300.
In the meantime, other major companies, such as the Swiss ABB and Germany’s Siemens Energy, are increasingly seen as beneficiaries of AI infrastructure.
“Nvidia gets the headlines, ABB gets the purchase orders,” Calibrate Management founder Michela Ferrulli was cited by Bloomberg while talking at the Sohn Monaco conference.
Banks are emerging as one of the biggest winners in this trend. Morgan Stanley claims that AI could boost this sector’s productivity by 50% in the next 10 years.
Electrification and power supply companies are described as go-to trades.
The trend reflects Europe’s lack of large technology companies directly exposed to the AI boom.
The tech sector makes up just 9% of Europe’s top companies, compared with 44% in the US. When it comes to semiconductors, Europe is even smaller, with only about 6% of the market, compared to America’s 19%.
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