Key facts
- Investments tied to AI physical infrastructure saw significant gains in the first half of 2026.
- Memory chip manufacturers experienced substantial growth.
- Cryptocurrencies experienced sharp declines in the first half of 2026.
- Gold experienced sharp declines in the first half of 2026.
- These market movements occurred despite geopolitical uncertainty.
The first half of 2026 witnessed a notable divergence in investment performance, with artificial intelligence (AI) infrastructure, particularly memory chip manufacturers, experiencing significant gains. This trend indicates a strong market focus on the physical components underpinning AI development and deployment. Conversely, traditional safe-haven assets like gold and speculative digital assets such as cryptocurrencies saw sharp declines. This slump occurred despite a backdrop of geopolitical uncertainty, which typically might drive investors towards gold. The market's preference for AI-related hardware over these other asset classes highlights a significant shift in investment priorities for the period.