Skip to navigationSkip to main contentSkip to right columnSushree MohantyFri, June 26, 2026 at 8:23 PM GMT+2 6 min readAI microchip by DesignKingBD360 via ShutterstockArtificial intelligence (AI) is driving one of the largest infrastructure investment cycles the tech industry has ever seen. Goldman Sachs believes this massive "capex supercycle" will force AI-related capital expenditures to surge to $757 billion in 2026, up 84% year-over-year (YoY), before climbing to $920 billion in 2027. As Big Tech pours hundreds of billions into chips, servers, networking, and data centers, the investment bank says a few tech stocks stand to capture the biggest share of this spending wave. Here are the three stocks Goldman believes could be among the biggest winners of AI's next growth phase.More News from BarchartMark Cuban Says There Are Some 'Greedy Blood-Sucking Business People That Will Do Anything for a Dollar' But 'Eat the Rich' Only Helps PoliticiansStocks Erase Early Gain as Megacap Tech Stocks RetreatStocks Settle Mixed on Apple Weakness and Chipmaker StrengthStop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now!Applied Materials (AMAT) hasn't been in the headlines, but investors have started to recognize its potential, as AMAT stock has soared 155% so far this year. Every advanced AI processor begins its journey in a semiconductor fabrication plant, where Applied Materials uses its deposition, etching, inspection, and materials engineering tools to work its magic.www.barchart.comIn the second quarter of fiscal 2026, Applied Materials reported revenue growth of 11% YoY to $7.91 billion, while adjusted earnings per share climbed 20% to $2.86, supported by expanding margins and strong customer demand. The semiconductor equipment business is now expected to expand over 30% in 2026, driven by rapid AI infrastructure deployment across leading-edge foundries, memory manufacturers, and advanced packaging facilities. The company is also expanding partnerships through its EPIC Center with industry leaders including Taiwan Semiconductor (TSM), Samsung Electronics (SMSN.L.EB), Micron Technology (MU), and SK Hynix to accelerate next-generation semiconductor technologies.Finally, Applied Materials operates in the areas expected to receive the bulk of AI infrastructure capex spending over the next several years. As AI demand grows, foundries such as TSMC, Samsung, Intel, Micron, and SK Hynix must expand production capacity. Suppliers like Applied Materials are poised to win. This is why it has made it to Goldman Sachs' list of the biggest winners of AI's next growth phase.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info