AI tops 2026 investment themes for 155 North American family offices while 75% expect an AI bubble to burst within five years, RBC Wealth Management and Campden Wealth found.
A Bank for International Settlements paper puts AI investment about 50% above the efficient level under a conservative baseline, a model suggests, though its author's views are not the bank's.
RBC Suggests Fear of Missing Out Helps Explain Why 59% Still Pick AI
Family offices are private firms that run the money of ultra-wealthy families. In the poll by wealth manager RBC and Campden Wealth, 59% named AI their top 2026 theme.
Over two to five years, however, 69% expect US equities to reward them, against 64% for AI, CNBC reported.
Bill Ringham, RBC's director of private wealth strategies, said in the same report: 'Even patient capital can be caught up in the fear of missing out.'
Campden Wealth's research director, Adam Ratner, told Spear's he thinks of it as 'the AI paradox'. The report found 41% intend to raise AI exposure in private-market technology holdings, Spear's reported.
Will they cut it? Almost none plan to, the report found.
Destiny's Ruggie Plans to Trim Up to 40% as AI Listings Loom
SpaceX, Elon Musk's rocket and AI company, raised about £64.8bn ($85.7bn) in June 2026 including the underwriters' full option, the largest IPO on record and more than double Saudi Aramco's 2019 haul.
Anthropic, the company behind the Claude chatbot, confidentially filed for an IPO on 1 June 2026, with a November listing reported. OpenAI's Sam Altman has ruled out a 2026 listing.
Tom Ruggie, founder of Florida's Destiny Family Office, expects such listings to spark a frenzy and then a bubble. He expects the next 12 to 18 months to be among the strongest.
He told InvestmentNews he plans to take as much as 40% off the table, Magnificent Seven stocks included: 'I'm going to be early.' You can skip a listing. Skipping the index is harder.
More Than Four in 10 S&P Stocks Are Down as Nvidia Outweighs UK in MSCI Index
A Reuters analysis of LSEG data shows the S&P 500 up 14% this year to record highs, yet more than four in 10 of its stocks are lower.
Nvidia alone, the world's most valuable company, makes up 5.2% of the MSCI All Country World Index against 2.9% for the whole UK, The Irish Times reported on 11 October 2026.
The BIS, the central banks' bank, published the paper by Phurichai Rungcharoenkitkul, who estimates over-investment near three times the efficient level where demand is less elastic.
Debt and circular financing could let stress in one AI firm spread to others, the paper says.
If your pension tracks the MSCI All Country World Index, you already hold part of what Ruggie says he plans to trim.
Reddit Threads Debate AI Bubble as Nvidia-Backed Firmus Pulls IPO
Online discussion appears divided. One r/investing commenter wrote: 'AI can be a bubble and the future at the same time.' An r/technology thread asks whether AI revenue can cover the spending, though none of the discussions reviewed responds to the survey.
Investors can still say no. Firmus, an Australian AI data centre operator, withdrew a planned IPO on 9 October 2026 that would reportedly have valued it at about £23.1bn ($30.6bn), nearly triple its August valuation, CNBC reported.
In China, Enflame, an AI chip designer pitched as a Nvidia rival, listed in Shanghai on 11 September 2026, and its shares more than doubled on debut. For more on the funding race, see our coverage of Anthropic's planned IPO.
