How AI mania is disguising big companies' hit from Iran war | FT #shorts

[0:00]Take a look at this chart. These are the 50 companies gaining the most market value since the Iran war began. Surging energy prices have boosted the value of the world's largest oil company, Saudi Aramco. But look closer and most of the gains are actually coming from tech, driven by the AI boom. Since the conflict began, the world's biggest companies have added an incredible $5.5 trillion in value. However, most of that is coming from semiconductor companies such as Nvidia and Broadcom. The sector alone has added around $4.3 trillion in market cap, as demand for AI infrastructure continues to surge. Big Tech companies have also rebounded strongly, helped by solid earnings and growing investment in AI. Investors see the sector as relatively insulated from the war and as offering predictable returns. But look elsewhere on the stock market and the war is having a big impact. Consumer groups are being hit by rising costs and weaker demand, and supply chains for everything from cars to copper are under pressure. But those declines are being outweighed by the scale of the AI rally, which has seen global stock markets bounce back in record time. So while investors are loving what the AI boom is doing for their portfolios, it's actually masking the negative impact of the war on most other industries.