Tech Takeover: IT now dominates nearly 40% of US stocks and over 40% of emerging markets

Technology companies are gaining an even bigger grip on global financial markets, with their influence now stretching far beyond stock markets and increasingly into corporate debt as well.

The rise has been driven largely by the artificial intelligence boom, with companies pouring billions of dollars into data centres, semiconductors, cloud computing and other infrastructure needed to support the next wave of AI growth.

New data from MSCI shows just how much the balance of power has shifted in recent years.