Global Investors Chase AI Productivity Signal in 2026, Barclays Strategist Warns

• Global investors will focus on tangible AI productivity gains by 2026, says Julien Lafargue of Barclays Private Bank.
• Lack of real productivity gains could undermine demand for AI infrastructure like Nvidia chips.
• Productivity data lags, forcing investors to rely on indirect indicators until CEOs report tangible numbers in 2026 Q2/Q3.
• India's market appeal to global investors is diminishing due to perceived lack of direct AI exposure and its service-led economy.
• Lafargue advises diversification, especially geographically, moving beyond over-exposure to the US market and exploring emerging markets.