KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
From Mag Seven to New AI Powerhouses
It’s been nearly three years since OpenAI’s ChatGPT reshaped the global economy, and the “Magnificent Seven” — Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Tesla — have dominated markets. They’ve accounted for more than half of the S&P 500’s rally since early 2023.
But Wall Street is now questioning whether this group still best represents the AI-driven future. While some of the seven continue to thrive, others are falling behind, making room for a new generation of leaders.
Winners and Laggards Within the Mag Seven
Strong AI performers: Nvidia, Microsoft, Alphabet, and Meta (shares up 21–33% this year).
Struggling names: Apple, Amazon, and Tesla are lagging as AI strategies remain less defined.
Analysts argue it’s “hard to see the current Mag Seven as the best representation of AI.”
Wall Street’s New Proposals
“Fab Four”: Nvidia, Microsoft, Meta, Amazon.
“Big Six”: Mag Seven minus Tesla.
“Elite 8”: Original seven plus Broadcom, now the U.S.’s 7th-largest company.
Cboe Magnificent 10 Index: Adds Broadcom, Palantir, and AMD to the original seven.
Notably absent from some of these lists are Oracle, which is up 75% this year on AI cloud growth, and Palantir, 2025’s best Nasdaq 100 performer (+135%).
Next-Gen AI Leaders to Watch
TSMC: Key player in AI chip manufacturing.
Oracle & Broadcom: Cloud and semiconductor strength.
Palantir: Clear AI software winner.
Arista Networks, Micron, Western Digital, Seagate, SanDisk: Benefiting from AI infrastructure demand.
Meanwhile, Apple faces slowing growth and weaker AI positioning, while Tesla grapples with soft EV sales and rising competition. Both still retain strong investor bases, betting on iPhone AI integration (Apple) and autonomous/robotics breakthroughs (Tesla).
The Bigger Picture
AI’s impact is expected to evolve in stages:
Enablers: Firms building chips and infrastructure.
AI software and services: Companies like Palantir.
Broad adoption: Businesses deploying AI to improve efficiency and growth.
Fidelity’s Jurrien Timmer warns that as leadership shifts, today’s AI darlings may become expensive and face growth slowdowns. The key unknown: Will the Mag Seven fade through a smooth rotation — or a sharp correction?
Takeaway: The Magnificent Seven may no longer define the AI trade. Investors should watch the next wave of leaders — TSMC
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