The 2026 edition of the Davos Forum closed with images, speeches, and agreements that help shape the new global order in which investors and asset managers will have to navigate. “This is a time of uncertainty, but also of possibility; it is not a time to pull back, but to lean in. The World Economic Forum is not about reacting to the moment. It is about creating the right conditions for us to move forward,” stated Børge Brende, President and CEO of the World Economic Forum, at the closing of the event.
In this context, and during his speech, Larry Fink, Interim Co-Chair of the World Economic Forum and CEO of BlackRock, argued that economic progress must be shared. “We believe prosperity needs to go further than it has gone, and we believe institutions like the World Economic Forum remain important to make that happen,” he stated.
Indeed, the theme of this edition, which emphasized dialogue, appeared to have tempered the tone of U.S. President Donald Trump. “He claimed to have held constructive talks on Greenland with the NATO Secretary General and canceled the planned tariff hikes set for February 1. At the same time, a meeting between the United States, Ukraine, and Russia was scheduled to address peace in Ukraine, a signal of geopolitical de-escalation that helped risk assets rebound. Gold pulled back but approached the $5,000 mark again this week,” summarized Edmond de Rothschild Asset Management.
Beyond the speeches and broader goals of Davos, markets experienced a week marked by geopolitical noise and volatility, yet equity indexes barely corrected as corporate earnings continued to support valuations. In response to these risks and uncertainty, investors moved toward safe-haven assets, particularly gold. But what are the key messages from Davos that truly matter for the industry?
Fragmentation, Risk, and Geopolitics
According to investment firms, a context of growing fragmentation and geoeconomic conflict has become increasingly evident, seen in trade, sanctions, and supply chains. In this sense, the Davos agreement on Greenland is a clear example of this fracture.
“Investors continue to seek protection for their portfolios, as tensions in global alliances and unresolved risks keep uncertainty levels high. With central banks increasing their gold purchases over the past year and a macroeconomic environment that continues to support accumulation of the asset, we foresee further price gains,” stated Mark Haefele, Chief Investment Officer at UBS Global Wealth Management.
For Thomas Mucha, Geopolitical Strategist at Wellington Management, geopolitical cycles tend to be long, historically lasting between 80 and 100 years. “Structural changes like the ones we are witnessing occur only once per century and tend to be disruptive. Therefore, while market risk is structurally higher in this new regime, 2026 will still offer ongoing opportunities to identify winners and losers within portfolios,” he noted.
Given the high probability that this shift toward national security will persist for years, Mucha believes 2026 could be a good moment to increase exposure to long-term investment themes across both public and private markets. “These themes include: defense and military tech innovation (e.g., artificial intelligence, space and aerospace technologies); critical minerals and rare earths; biotechnology; cyber defense; and renewable energy and climate resilience strategies. This dynamic plays out regionally, nationally, by sector, and at the company level, as well as across all asset classes. It naturally favors active management, as it allows for more agile risk mitigation and differentiation than a passive approach. Opportunities for alpha could emerge through long/short and other alternative strategies. In any case, prudent investors should incorporate geopolitical perspective into their portfolio strategy for 2026 and beyond,” the expert emphasized.
Focus on AI
Another major theme was artificial intelligence, which was present in most of the leaders’ discussions. In Davos, a repeated idea was that the core challenges are trust, governance, and alignment, while warnings were issued regarding job displacement and uneven distribution of productivity gains. The narrative is shifting from “adopt AI” to “prove value and control.”
For asset managers, approaching opportunities in AI goes beyond the spotlight on the Magnificent Seven. “The expansion of AI infrastructure, increased defense spending, and strong demand in the aerospace industry are creating structural tailwinds for the sector. On top of that, greater AI adoption in industrial processes is already showing improvements in productivity and operational efficiency. Looking ahead to 2026, a more favorable macroeconomic environment could boost cyclical segments of the sector and broaden opportunities beyond the large tech firms,” stated Principal Asset Management.
Echoing Davos sentiments, AI-related infrastructure is considered a solid opportunity for investors. “The growing infrastructure needs associated with AI, particularly the construction of data centers, are creating investment opportunities beyond the tech sector. Industrial companies in construction and engineering, electrical equipment, and construction machinery (making up roughly 22% of the sector) supply key components for data centers, from electrical design to cooling systems and battery storage. Some estimates suggest global investment in data centers could reach $7 trillion by 2030 to meet rising energy demands, largely driven by AI workloads,” noted Principal AM.
Sustainable Innovation
As concluded at the Davos Forum, AI and emerging technologies are fundamentally transforming all industrial sectors and the global labor market, driving profound changes in skill requirements and entire professions across both advanced and emerging economies. “When a proven technology like AI merges with emerging fields such as quantum computing or synthetic biology, ideas move from lab to market faster, shaping how industries grow and unlocking new ways to improve the world around us,” they noted. “I would advocate for developing countries: build your infrastructure, engage with AI, and recognize that AI is likely to close the technology gap,” said Jensen Huang, founder, president, and CEO of Nvidia.
The Forum advocated for the responsible and equitable use of technologies like AI, stressing the need to balance their potential with associated risks. Industry leaders encouraged peers to draw lessons from history to guide the deployment of AI. To meet future energy needs, it was emphasized that technology must scale, grids must be modernized, and access to innovation must expand. A new report on clean fuels suggests that global investment in clean fuels could rise from around $25 billion today to over $100 billion annually by 2030, driven by new demand and government ambitions.
