Adoption of artificial intelligence across the United States continues to gather pace, according to UBS, with monetisation trends set to favour software and internet firms as the market matures.
UBS analysis of recent government data showed US AI adoption rose from 7.4% in the first quarter of 2025 to 9.2% in the second, and is expected to cross 10% before year-end.
The report highlights how long that threshold took to reach in other sectors: US e-commerce, for example, needed 24 years to achieve 10% penetration.
The strongest uptake was seen in computing infrastructure, web search and digital media, while several sectors are already reporting 25–30% adoption.
While hardware names have dominated early gains, UBS said the next leg of growth will be driven by demand for AI software, services and applications, where monetisation is improving most rapidly.
It recommends investors adopt a balanced approach across three areas: enabling technologies, intelligence platforms and application layer firms.
In private markets, UBS sees opportunities in venture capital, private equity, and infrastructure, such as data centres and cloud providers. These offer varied exposure to different stages of the AI stack and its physical backbone.
The bank advises investors to keep AI as a core theme in long-term tech portfolios.