AI trade will continue to expand far beyond 'Magnificent 7' stocks: BlackRock

Jay Jacobs, U.S. head of equity ETFs at BlackRock, says investors will increasingly target related industries such as semiconductors, data centers, and power infrastructure as the AI trade expands. He also notes that growing demand for tactical and alternative ETF strategies reflects a broader shift away from the traditional stock-and-bond portfolio model, as investors seek more diversified sources of return.