BlackRock is increasing US large-cap equity exposure and redirecting artificial-intelligence investments across approximately $300 billion in model portfolios toward companies deploying or benefiting from the technology. The September 23 guidance also reduces regional tilts across US, developed and emerging markets. BlackRock said Q2 2026 earnings showed that AI infrastructure spending is producing measurable returns, supporting a shift from foundational AI developers toward adopters in sectors such as energy, industrials, healthcare and financial services. CEO Larry Fink has previously highlighted growing investor interest in energy and infrastructure over mega-cap technology, while only about 20% of clients in Europe, the Middle East and Africa identified the largest US technology companies as their top AI opportunity. BlackRock projects global AI-related capital expenditures could reach $5 trillion to $8 trillion by 2030.