If you are hunting for AI stocks in 2026, Citrini Research’s new report on the “State of the Themes” reads less like a shopping list than a map of where the capital flows next. The first phase of the artificial intelligence trade was about one thing: centralized compute. Build the data centers, buy the GPUs, fund the hyperscaler capex.
Citrini Research, the thematic equity shop behind the Citrindex model portfolio, spends the back half of its 100-page State of the Themes 2026 arguing that the second phase looks almost nothing like the first. Intelligence is migrating to the edge, into the agentic plumbing of the internet, and out into the physical world. The report aims to map that shift and the...

