European Investors Pivot From Chip Stocks to Utilities and Banks for AI

According to a Bloomberg report dated June 28, 2026, European investors seeking exposure to artificial intelligence are shifting capital from expensive chip stocks toward power companies and banks. Compared with the US and Asia, Europe has few direct AI and memory chip names like Nvidia, leaving trading concentrated in a limited pool of semiconductor stocks that have grown richly valued and less liquid. Investors are hunting for companies that "enable" AI technology or "benefit" from it, and utilities and banks have emerged as the answer (Bloomberg, Financial Post).