上半年的市场焦点已从单纯应用人工智慧的巨头企业转向建设AI基础设施的硬体和半导体厂商，带动科技股指数大幅上扬。投资机构如贝莱德与景顺建议，应将投资目光扩展至电力网络、数据中心等实体经济基础设施，同时利用较高债券收益率的机会进行短期国债与优质信用的配置。
面对下半年的通膨黏性、地缘政治局势及美国期中选举等潜在风险，市场各方虽对市场领导板块是否会泛化或仅由不同AI受益者承接存在分歧，但共识依然是经济扩张势头将保持完整，而资金成本和可用性的考验将决定下半年的走势。
A diversified portfolio of stocks, bonds, and commodities posted its strongest first-half return since 2021 despite multiple economic and geopolitical shocks. Wall Street remains optimistic about the second half of 2026, betting that market resilience will drive valuations and index growth higher despite persistent challenges.
The focus of the market rally has shifted from tech giants deploying artificial intelligence to the hardware, semiconductor, and infrastructure companies building it. Major firms like BlackRock and Invesco suggest looking beyond mega-caps toward physical constraints like power grids and data centers, while utilizing higher yields to lock in short-duration bonds.
While sticky inflation, ongoing geopolitical conflicts, and the upcoming US midterm elections pose risks for the remainder of the year, the broader consensus is that global economic expansion remains intact. The main debate lies in whether market leadership will broaden or concentrate in a new set of AI infrastructure beneficiaries.