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The 4 Phases Of AI: Strong Earnings, Weak Markets

By Seeking Alpha February 27, 2026 Bullish
The 4 Phases Of AI: Strong Earnings, Weak Markets
AI leaders continue to report strong earnings growth, with profits rising faster than share prices, leading to multiple compression across parts of the sector. The AI cycle is evolving across four distinct phases (model builders, infrastructure providers, application monetization, and productivity adopters), each experiencing different market dynamics.
AI leaders continue to report strong earnings growth, with profits rising faster than share prices, leading to multiple compression across parts of the sector. The AI cycle is evolving across four distinct phases (model builders, infrastructure providers, application monetization, and productivity adopters), each experiencing different market dynamics.