Wells Fargo: AI spending is overflowing into the real economy, with industrial stocks being the biggest beneficiaries, but political resistance must be monitored.

According to the Zhitong Finance APP, Wells Fargo strategist Ohsung Kwon recently pointed out that AI spending by technology giants is "trickling over" to the wider, and industrial stocks will be the major beneficiaries. This judgment is not a hollow optimistic expectationlooking at three dimensions: macro data, corporate earnings reports, and policy games, the spillover effects of AI investment are indeed happening, but they also face increasingly severe political resistance.