"The macro factor driving PWB forward is straightforward: enterprise spending on artificial intelligence infrastructure remains robust, and the companies building that infrastructure are printing money. Alphabet's net income surged 35% year-over-year in Q3 2025 as businesses adopted its Gemini AI models and expanded Google Cloud usage. NVIDIA tells an even more dramatic story-its data center business has transformed the company from a gaming chip maker into an AI infrastructure powerhouse, with earnings growth that reflects the scale of enterprise AI adoption."
"The Invesco Large Cap Growth ETF ( NYSEARCA:PWB) has climbed 6% year to date and 25% over the past year, riding a wave of mega-cap technology strength that shows no signs of breaking. While the fund holds a diversified portfolio of 100 growth stocks, Alphabet Inc. ( NASDAQ:GOOGL), NVIDIA Corp. ( NASDAQ:NVDA),"
Invesco Large Cap Growth ETF (PWB) rose 6% year-to-date and 25% over the past year, driven largely by mega-cap technology strength. Four holdings—Alphabet, NVIDIA, Meta, and Microsoft—account for about 12% of fund assets and materially amplify returns. Enterprise AI infrastructure spending remains robust, lifting cloud and data-center revenue and driving outsized earnings growth at these companies. AI is moving from experimentation to production, sustaining capital expenditure on chips, cloud services, and infrastructure. Monitor quarterly cloud and data-center revenue growth; sustained rates above 20% would support continued outperformance. Heavy Information Technology weighting increases concentration risk.
Read at 24/7 Wall St.
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