Société Générale Releases AI Investing Playbook for Bull Market

Société Générale released a three-part AI investing playbook advising investors to maintain their commitment to the AI-fueled bull market. The bank argues that value creation is shifting from initial infrastructure toward a broader range of downstream applications.

Manish Kabra, the bank's chief US equity strategist, states that AI value creation is broadening to include companies monetizing AI products and those capturing productivity gains. He notes that AI is now a direct component of what customers pay for, which translates adoption into revenue.

The playbook divides investment opportunities into three categories. AI builders include infrastructure providers like chipmakers and power suppliers. AI sellers comprise companies monetizing models via hyperscale cloud services and partnerships. AI users are firms in the industrial, healthcare, and financial sectors using the technology to increase earnings per employee and improve margins.

Société Générale specifically identifies Meta's agentic AI model, Muse, as a primary driver of renewed optimism regarding corporate spending and the monetization of AI.