Traders Chase ‘AI Resistant’ Stocks During Slide in Tech

A new group of stock winners has emerged as technology shares slide: Companies with businesses that artificial intelligence can’t replicate.

The S&P 500 Index has dropped 0.9% this week, pulled down by software companies as investors’ concern that AI will disrupt those business models intensified following the rollout of new tools by startup Anthropic. At the same time, homebuilders, transportation companies and makers of heavy machinery posted strong gains. Consumer staples firms, already considered havens in a downturn, are up 5.2% and heading for their best week since 2022.