Artificial intelligence (AI) is expected to remain the single biggest driver of corporate investment in 2026, with Barclays projecting trillions in capex tied to AI infrastructure and applications.
The AI spending wave has already reshaped equity markets, and firms positioned at the intersection of hardware, software, and consumer adoption could see outsized gains.
Among names highlighted by Barclays, three stand out as particularly well‑placed to benefit from the next leg of AI growth: Nvidia (NVDA), Microsoft (MSFT), and Carvana (CVNA).
Each offers a unique angle on how artificial intelligence can translate into shareholder value in the year ahead.
Nvidia: the hardware backbone of AI
Nvidia remains the undisputed leader in graphics processing units (GPUs), which are the essential engines powering AI workloads in data centers worldwide.
Barclays analysts see long‑term sustainable growth for the company, noting its “large lead in GPUs for AI in [data centers], with further Edge opportunities (autos, robots, etc.) and a competitive moat around a large portion of the market.”
If AI spending accelerates next year, demand for NVDA chips will remain robust, even in the face of intensifying competition.
For investors betting on AI infrastructure, Nvidia shares offer direct exposure to the hardware backbone of the industry, which is why Wall Street has a consensus “buy” rating on it heading into 2026.
Microsoft: software giant riding the AI wave
Microsoft’s strength lies in embedding AI across its enterprise and consumer platforms.
From Azure cloud services to productivity tools like Office and Teams, the company is integrating generative artificial intelligence to enhance efficiency and create new revenue opportunities.
Microsoft’s scale and distribution give it a unique advantage in monetizing AI across industries.
If spending accelerated in 2026, the company is positioned to capture both enterprise demand and consumer adoption – making it a core holding for those confident in AI’s staying power.
On average, Wall Street sees upside in MSFT stock to $630 next year.
Carvana: AI transforming consumer experience
While not a traditional tech name, Carvana demonstrates how artificial intelligence can reshape consumer‑facing industries.
The online used car retailer leverages AI to optimize pricing, streamline inventory management, and personalize customer interactions.
As AI spending expands, CVNA’s ability to harness advanced algorithms for operational efficiency could significantly improve margins and customer satisfaction.
Barclays included Carvana stock among its overweight picks, highlighting its potential to benefit from broader AI adoption even outside the technology sector.
For investors seeking exposure to AI’s impact on everyday commerce, CVNA is a compelling play on how machine learning can transform traditional retail models and drive growth next year.
Carvana shares have more than doubled already in 2025, but Wall Street analysts expect it to rally further to as much as $550 over the next 12 months – indicating potential upside of another 25% from here.
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