Stocks unrelated to artificial intelligence outperformed the broader market this week by one of the widest margins in nearly three years. Leading S&P 500 outperformers outside AI include Fair Isaac (+14%), Equifax (+10.4%), Darden Restaurants (+10.3%) and Brown-Forman (+9%). The S&P ex-AI index gained 2.4% through Thursday while the S&P 500 declined nearly 1%, creating a 3.29 percentage point spread. Goldman Sachs and S&P Dow Jones Indices launched the S&P ex-AI index (ticker SPXXAI) in February to allow investors to measure or hedge against AI-related trades. Trivector Research identified potential in non-tech compounders such as Eli Lilly, Tapestry and AbbVie.
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