Artificial-intelligence-linked companies are expected to account for most of the U.S. stock market’s third-quarter earnings growth.
Analysts expect S&P 500 profits to rise by roughly 31% from a year earlier, with technology giants and semiconductor companies providing the largest contribution.
Semiconductors remain the standout
Chip-sector earnings are expected to more than double as demand for AI infrastructure continues to support pricing and capacity utilization.
Energy companies are also set for strong profit growth after the recent rise in oil prices.
The concentration of earnings growth in AI-related sectors is helping sustain the equity rally but is also increasing investor concern about market dependence on a relatively small group of companies.
Sources
- LSEG earnings estimates
- Reuters, Oct. 9, 2026
