India, July 30 -- Artificial intelligence (AI) has been the largest contributor to global equity markets for about two years now. Companies related to AI server manufacturing, chip manufacturing, memory manufacturing, testing equipment, advanced packaging and infrastructure development for data centers saw unprecedented investment interest as the leading technology firms made record investments in developing AI infrastructure.

This led to a strong rally in Asian equity markets, with the South Korean KOSPI index rising from about 2,500 in early 2024 to a record-high level of 9,114 in June 2026, close to 265% in less than three years. Japan's Nikkei 225 index has risen from about 33,300 in early 2024 to 72,800 in June 2026.

In about a mo...