December 22, 2025 marks a pivotal moment for investors, showcasing a distinctive split in market dynamics: while artificial intelligence (AI) continues to drive global equity momentum, precious metals like gold and silver are capturing increasing attention. AI-linked stocks, notably in the chip and semiconductor equipment sectors, buoyed Asian markets at the beginning of the week. Concurrently, gold and silver surged to new record highs, propelled by expectations of interest rate cuts, heightened safe-haven demand, and a narrative of a weakening dollar that has kept commodities in focus.
This juxtaposition—“AI as the growth story” versus “silver as the shock absorber (and maybe more)”—is influencing the outlook for 2026. It raises a critical question among analysts and investors: If AI is genuinely transitioning from hype to cash flow, where will the profit growth manifest first, and which sectors will be best positioned to capitalize?
Several significant developments on December 22 are already shaping market positioning for the upcoming year. In a report by Reuters, gold surpassed $4,400 per ounce for the first time, reaching an intraday record of $4,420.01, while silver hit a record price of $69.44 per ounce. Gold has seen a remarkable rise of approximately 68% year-to-date, with silver following closely behind, up 139%. This extraordinary performance of precious metals stands in stark contrast to the warnings regarding U.S. equity valuations, with the S&P 500’s Shiller P/E ratio exceeding 40, echoing levels seen during the late-1990s dot-com boom.
Despite mixed market signals, Associated Press coverage underscored that AI-related sentiment is resonating globally, with Asian shares responding positively to a late-week rebound in the U.S. and renewed strength in AI-adjacent sectors. Business Insider has noted a widening theme within institutional circles suggesting that the AI boom extends beyond traditional semiconductors to include essential infrastructure like telecom networks and satellite systems.
This news cycle delivers a clear message: while AI is fundamental, the market is increasingly demanding proof of profitable adoption and is open to alternative investments. A segment from Yahoo Finance has framed 2026 as a potential turning point for profit growth in credit card companies and retailers, reinforcing how mainstream the “AI monetization” narrative has become. Payments and retail are particularly positioned atop consumer behavior data, transaction flows, and operational complexities—areas where AI can yield tangible financial results.
In credit issuance and payments, AI-driven profit opportunities can be categorized into four primary areas: fraud prevention and loss reduction, smarter credit underwriting, personalized offers, and enhanced customer service automation. Each of these facets illustrates how AI can not only bolster revenues but also streamline operational costs.
For retailers, AI is no longer solely a marketing tool; it’s becoming integral to inventory management, pricing strategies, and conversion rates. Retailers are increasingly deploying AI in demand forecasting and inventory placement to minimize stockouts and overstock, improving supply chain efficiency and personalized merchandising, leading to higher sales conversions.
However, the sector is already facing scrutiny regarding AI-enabled pricing strategies, as highlighted by a recent investigation into pricing practices at Instacart’s parent company by the FTC. This situation illustrates the potential regulatory risks associated with AI technologies.
Connecting Commerce: The Role of Agentic Commerce
One of the key developments in the 2026 AI narrative is “agentic commerce”—AI systems capable of not just recommending products but also executing purchases. Visa is at the forefront, collaborating with over 100 partners globally on its Visa Intelligent Commerce initiative. The company reports that more than 30 partners are developing within its ecosystem, fostering hundreds of real-world agent-initiated transactions. Visa anticipates millions of consumers will engage AI agents for shopping tasks by the next holiday season.
This evolution has significant implications for profit growth: as AI agents enhance conversion rates and repeat purchases, retailers can experience increased sales efficiency, while payment networks can benefit from improved transaction volumes and reduced fraud. However, realizing the full potential of agentic commerce hinges on solving key issues around trust, security, and consumer consent.
Looking ahead, market forecasts indicate that technology will continue to play a central role, with healthcare also gaining traction due to its defensive demand coupled with innovative potential amid evolving AI capabilities. AI adoption is expected to drive spending on cloud services, semiconductors, and digital infrastructure, with Goldman Sachs estimating that capital expenditure among leading AI companies could reach $527 billion in 2026.
Despite the ongoing buildout phase of AI, investors are becoming more selective, showing a preference for AI platform stocks over traditional infrastructure components. Concurrently, healthcare stocks are trading at a notable discount, suggesting potential for significant returns driven by AI-enhanced productivity and operational efficiencies.
As the market contemplates these trends, a contrarian thesis has emerged, positing that silver could outperform AI-related tech stocks in 2026. With silver reaching a record price on the same day as gold, this narrative is gaining traction, further complicating the AI investment story, which relies on various commodity inputs for its infrastructure.
The consensus moving into 2026 is not that AI is finished but rather that it is becoming a normalized aspect of the market, altering investment strategies. Investors are closely monitoring valuation risks in U.S. equities, regulatory scrutiny surrounding AI pricing, the sustainability of AI hardware value, and macroeconomic conditions that may favor hedging strategies.
As 2026 approaches, three critical signals will likely influence market leadership: the measurable profit impacts of AI in consumer sectors, the evolution of the AI investment platform phase, and the continued appeal of commodities like silver in the face of ongoing economic shifts. Collectively, these factors will shape the competitive narrative within the investment landscape as both AI and precious metals vie for investor attention.
See also
Alphabet’s AI Strategy Positions Stock for Market-Beating Gains Through 2030
Australian Retail Spending Up 5% This Xmas, Fuelled by AI and Online Growth
AI in Finance Awards 2025 Highlights Banks’ Strategic Shift to Core AI Integration
GenAI in Banking: Balancing Hype with Practical Applications for 2026 and Beyond
Healthcare VCs Predict 2026 Focus on AI Solutions and M&A, Few IPOs Expected
