BlackRock, which reported a record $13.9 trillion in assets under management as of March 31, said CIO Rick Rieder trimmed positions in companies most directly tied to the AI boom and reduced overall equity exposure, framing the moves as rebalancing rather than abandoning the theme. The firm signaled rotation into cheaper AI beneficiaries like power, industrials and data‑center infrastructure and reiterated guidance for a 1-2% Bitcoin allocation, a development relevant for crypto adoption and portfolio diversification.

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In Brief

BlackRock pulled back on stocks most directly tied to AI, Rick Rieder says.
Rieder framed the sales as rebalancing, not fading confidence in AI.
The $13.9 trillion manager may rotate into cheaper AI plays like infrastructure.

BlackRock has pulled back on AI stocks most directly tied to the artificial intelligence (AI) boom, Chief Investment Officer of Global Fixed Income Rick Rieder said Wednesday. He described the sales as rebalancing, not a reversal.

BlackRock manages more client assets than any rival, so its positioning attracts unusual attention. Investors are already debating whether the market’s concentration in a few AI winners has gone too far.

BlackRock AI Stocks Pullback Reflects Selectivity

Speaking on CNBC, Rieder said his team trimmed positions in companies whose earnings depend most heavily on the AI buildout. In a separate clip, he added that the firm also cut a notable slice of its overall equity exposure.

He framed the shift as trimming winners rather than exiting the theme.

“Some of the companies that are more directly tied to AI, we’ve pulled back a bit and rebalanced a bit,” Rieder said in the interview.

The scale behind the words matters. BlackRock reported a record $13.9 trillion in assets under management as of March 31, according to an SEC filing.

However, the comments extend a stance Rieder has held all year. At a CNBC event in June, he rejected dot-com comparisons. The Magnificent 7 then traded near 26 times earnings, he noted, with forward earnings growth above 20%.

His January outlook likewise argued 2026 would reward income and selectivity as AI gains separate winners from laggards.

Wall Street is already divided on the trade. JPMorgan urged clients to buy the recent chip dip while Morgan Stanley preferred hyperscalers instead, a split over AI chips that mirrors BlackRock’s selectivity.

Where the AI Money May Rotate Next

Rieder indicated the firm may redeploy into cheaper beneficiaries of AI adoption. Power producers, industrials, and infrastructure builders could capture the next wave of data center spending.

Signs of profit-taking are spreading across the AI supply chain. AI memory stocks still lead 2026 trading even as money flows turn cautious. Meanwhile, Samsung shares fell this week despite forecasting a 19-fold profit jump, because investors booked recent gains.

Concentration remains the deeper worry. The S&P 500 has repeatedly set records on weak market breadth, with a small group of mega caps carrying the index.

BlackRock’s wider portfolio guidance this year points the same way. The firm now recommends a 1% to 2% Bitcoin (BTC) allocation, another route to returns beyond a few dominant AI names.

For investors, the message reads as discipline rather than alarm. The coming earnings season may show whether the market’s biggest AI names can still defend their premiums.

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