Descriptions:
Carol Schleif, Chief Market Strategist at BMO, joins Bloomberg Technology to discuss what she calls the AI stampede fueling a market rally well beyond the technology sector. The conversation follows six consecutive weeks of Nasdaq 100 gains and examines what is driving markets higher despite short-term geopolitical uncertainty around the Strait of Hormuz and oil supply chain disruptions.
Schleif argues the AI infrastructure buildout is fundamentally a supply-side constraint — there is no shortage of demand, only a shortage of capacity — and that this dynamic historically sets up strong long-term productivity and GDP gains. She cites double-digit revenue and earnings growth across eight of eleven market sectors as evidence the rally has fundamental support rather than pure momentum. Upcoming IPOs from Cerebras and SpaceX receive particular attention; SpaceX’s ‘orbital data center’ narrative is discussed as the largest test of investor appetite for AI-adjacent stories in the current cycle.
The segment also highlights international AI infrastructure plays — SK Hynix, Samsung, Qualcomm, and Micron — where price-to-earnings ratios are compressing even as share prices rise because earnings growth is accelerating faster than valuations. Nuclear energy for data center power, with Constellation Energy cited specifically, is identified as a critical bottleneck attracting investor attention. Schleif’s overall view is that growth-biased investors who stayed the course through 2022 fears have been vindicated, and the AI capital expenditure cycle still has a long runway ahead.
📺 Source: Bloomberg Technology · Published May 11, 2026
🏷️ Format: News Analysis
