BlackRock’s $14 trillion AI investment strategy REVEALED | Gargi Chaudhuri
Full Signal
Phil Rosen
4.8 • 18 Ratings
🗓️ 15 January 2026
⏱️ 35 minutes
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Summary
Gargi Chaudhuri is BlackRock's chief investment and portfolio strategist for the Americas. She joins Phil Rosen to discuss the firm's outlook on the AI trade for 2026, the biggest risks to the bull market, what BlackRock clients are most concerned about, and how she's thinking about portfolio positioning in the new tech boom.
This episode is sponsored by Public: https://public.com/openingbellSubscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribeFollow Phil on X: https://x.com/philrosennFollow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/Timestamps:0:00 - Intro0:23 - AI stocks got cheaper4:22 - Risk of AI optimism7:06 - Diversifying from AI8:37 - $8 trillion capex 12:02 - Economic growth14:38 - Public & Generated Assets15:46 - Macro vs. earnings 17:28 - $9 trillion cash on sidelines19:59 - Rethinking 60/40 portfolios23:18 - 2025 surprises24:28 - BlackRock’s bitcoin success28:24 - What goes wrong in ‘26?31:40 - BlackRock client concernsDisclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.
Transcript
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| 0:00.0 | I'm so excited to share. Today we have Gargi Chowdrey, the chief investment and portfolio strategist |
| 0:05.6 | at Black Rock for the Americas. She is an incredible wealth of knowledge and today we get into |
| 0:09.8 | what Black Rock expects for the year and how they're positioning, how they're advising their |
| 0:14.4 | investors, and what would have to happen for markets to have a down year. This is a fantastic |
| 0:19.6 | conversation. I learned a ton and I think you will too. |
| 0:24.6 | Gargi, I super appreciate you coming in today. |
| 0:26.6 | The first thing I wanted to ask you is that in your outlook, |
| 0:29.6 | you wrote that AI stocks actually got cheaper in 2025. |
| 0:33.6 | I think that's going to break a lot of people's brains. |
| 0:36.6 | Can you explain that for us? |
| 0:38.3 | Sure. |
| 0:39.3 | So first of all, thank you so much for having me. |
| 0:41.3 | Happy New Year to all your listeners. |
| 0:43.3 | We're still doing that. |
| 0:44.3 | It is almost the middle of the month. |
| 0:46.3 | But yeah, to your point, Phil, in our 2026 outlook investment directions, |
| 0:51.3 | one of the themes we're talking about is AI. |
| 0:53.3 | And when we talk to our clients, |
| 0:55.0 | the biggest question we get is, has this happened already? And look at the valuations. We look at |
| 1:02.3 | PE, look how high that is and how can we invest at this point. So the first point, and I'll start |
| 1:09.3 | with your question, which is just around, you know, |
| 1:11.9 | where was the valuation starting point and where is it now? So we look at just, if you look at |
... |
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