Chief Investment Strategist: "We Are Spending Almost 3% of GDP on AI" as Stocks Tune Out Global Conflict on "Astronomical Investment

Jason Pride, chief investment strategist and research at Glenmede, told CNBC on July 10 that investors have largely “tuned out” global conflict as artificial intelligence spending drives corporate growth. Pride said the market is becoming desensitized to geopolitical risk and is now “momentum-driven.” He argued that underlying support is tied to substantial AI investment, stating that the industry is spending almost 3% of GDP per year on AI build-out, covering both software-like replacements and physical infrastructure such as buildings and cooling systems. The article links this thesis to reported results from NVIDIA, Micron, IBM, and Honeywell. NVIDIA cited Q1 FY2027 revenue of $81.61 billion, up 85.2% year over year, and guidance of $91.0 billion for Q2, with its next report expected August 26, 2026. Micron reported fiscal Q3 2026 revenue of $41.46 billion and raised momentum for AI-era memory demand.