{"id":129022,"date":"2025-10-23T17:42:40","date_gmt":"2025-10-23T21:42:40","guid":{"rendered":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/multi-theme-index-outpaces-mag-7-amid-ai-growth\/"},"modified":"2025-10-23T17:50:15","modified_gmt":"2025-10-23T21:50:15","slug":"multi-theme-index-outpaces-mag-7-amid-ai-growth","status":"publish","type":[3762],"link":"https:\/\/www.bloomberg.com\/professional\/insights\/markets\/multi-theme-index-outpaces-mag-7-amid-ai-growth\/","title":{"rendered":"Multi-theme index outpaces Mag 7 amid AI growth"},"content":{"rendered":"<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0590da12c1c'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-7\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--lg\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px; color: #0062dd;\">ARTICLE<\/span><\/strong><\/p>\n\n<\/div>\n<div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div>    <h1 class=\"bbg-metadata bbg-metadata--title\">Multi-theme index outpaces Mag 7 amid AI growth<\/h1>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 50px !important\"\n    >\n<\/div>    <ul class=\"bbg-categories_list\">\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/artificial-intelligence\/\" rel=\"category tag\">\n                    Artificial Intelligence\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/markets\/\" rel=\"category tag\">\n                    Markets\n                <\/a>\n            <\/li>\n                    <li>\n                <a href=\"https:\/\/www.bloomberg.com\/professional\/insights\/category\/technology\/\" rel=\"category tag\">\n                    Technology\n                <\/a>\n            <\/li>\n            <\/ul>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-5\"\n    style=\"\"\n    >\n    <div id=\"\" class=\"wpb_content_element bbg-single-image align-left\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/365376363-2.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"Stock market movements\" title=\"Stock market movements\" \/>\n        \n            <\/figure>\n<\/div>\n\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0590da1fbcb'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6 bbg-column--m-width-6\"\n    style=\"\"\n    >\n    <p>    <p class=\"bbg-metadata bbg-metadata--date\">October 23, 2025<\/p>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p><strong>Functions for the Market<\/strong><\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2 bbg-column--valign-middle bbg-column--m-width-2 bbg-column--s-padding-right-2\"\n    style=\"\"\n    >\n    <div class=\"bb-tts\"\n\tdata-selector=\"main\"\n\tdata-label=\"Speak this page\"\n\tdata-custom-play=\"Play\"\n\tdata-custom-pause=\"Pause\"\n\tdata-custom-stop=\"Stop\"\n\tdata-overlay=\"false\"\n\tdata-invert=\"false\"\n\tdata-no-time=\"false\"\n\tdata-no-button-text=\"false\"\n\tdata-one-button=\"true\"\n\tdata-one-style=\"true\"\n\tdata-hide-stop=\"true\"\n\tdata-voice=\"Gordon\"\n\tdata-pitch=\"1\"\n\tdata-speed=\"1\"\n\tdata-align=\"flex-start\"\n>\n<\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a0590da22d81'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8 bbg-column--has-bg-color\"\n    style=\"background-color:#e6f3ff;border-radius: 16px 16px 16px 16px;\"\n    >\n    <div class=\"wpb_content_element bbg-card  bbg-card-custom bbg-card-text-black\" id=\"card_1\" data-card_type=\"no_image\">\n      <style>#card_1 .bbg-card__innerwrapper {background-color: #e6f3ff;}#card_1 .bbg-card__innerwrapper {\n\tborder: 1px solid #e6f3ff !important;\n\t}#card_1:hover .bbg-card__innerwrapper {\n\tborder: 1px solid #e6f3ff !important;\n\t}#card_1 .bbg-card__innerwrapper {\n\tpadding: calc(var(--brand-large-padding, 40px) - 1px) !important;\n\t}#card_1 .bbg-card__innerwrapper .bbg-card__title {\n\tcolor: #000000 !important;\n\t}#card_1 .bbg-card__innerwrapper .bbg-card__content,#card_1 .bbg-card__innerwrapper .bbg-card__content p  {\n\tcolor: #000000 !important;\n\t}#card_1.bbg-card_hasImage .bbg-card__innerwrapper{padding-top: calc(var(--brand-default-padding, 16px) - 1px);padding-left: calc(var(--brand-default-padding, 16px) - 1px);padding-right: calc(var(--brand-default-padding, 16px) - 1px);}<\/style>\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n              <div class=\"bbg-card__eyebrow\" style=\"color: #000000\">KEY TAKEAWAYS<\/div>\n      \n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><\/p>\n<ul>\n<li data-start=\"140\" data-end=\"333\">\n<p data-start=\"142\" data-end=\"333\">AI\u2019s expansion across industries powered Bloomberg\u2019s Multi-Thematic Index (BMULTIT) to a 50% gain through October 2025, outpacing the Mag 7 and the Bloomberg World Index by over 30 percentage points.<\/p>\n<\/li>\n<li data-start=\"334\" data-end=\"482\">\n<p data-start=\"336\" data-end=\"482\">Broader exposure across multiple sectors and regions delivered stronger, more balanced returns than concentrated bets on major U.S. tech stocks.<\/p>\n<\/li>\n<li data-start=\"483\" data-end=\"664\">\n<p data-start=\"485\" data-end=\"664\">Backed by $410 billion in cash reserves and $850 billion in deployed capital since 2018, index members could be well placed to sustain momentum in AI, disruptive energy and robotics.<\/p>\n<\/li>\n<\/ul>\n<p>\n<\/div>\n          <\/div>\n\n      <\/div>\n\n  <\/div>\n\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-compact row-padding--bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a0590da26410'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Background<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>In 2024, the spotlight was on the <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2024-12-11\/magnificent-seven-back-in-pole-position-with-nasdaq-record\">soaring stocks of the Magnificent 7<\/a> tech giants. In 2025, the focus has evolved from big tech dominance to AI adoption spanning multiple themes and regions.<\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Bloomberg\u2019s Multi-Thematic Index (BMULTIT), made up of innovation leaders engaged in four or more Bloomberg Intelligence themes, outperformed the <a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/WORLD:IND\">Bloomberg World Index (WORLD)<\/a> by over 30 percentage points this year, Bloomberg Intelligence analysis shows. Investors exposed to themes across multiple sectors, and geographies saw stronger returns, improved risk-adjusted performance and more diversification than those concentrated solely in the <a href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/quote\/BM7T:IND\">Mag 7 (BM7T)<\/a>.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"2346\" height=\"1338\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg\" title=\"Screenshot\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 2346w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 2048w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 189w\" sizes=\"auto, (max-width: 2346px) 100vw, 2346px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0590da2b26c'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-3\"\n    style=\"\"\n    >\n    <p><div\n    class=\"bbg-spacer bbg-spacer--sm\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p class=\"small\"><strong><span style=\"font-size: 14px; letter-spacing: 1px;\">PRODUCT MENTIONS<\/span><\/strong><\/p>\n\n<\/div>\n\n<div\n  id=\"cta_8043687100773241610\"\n  class=\"wpb_content_element bbg-cta no-icon\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p left\">\n      <a\n        class=\"bbg-cta-link link\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/products\/indices\/thematic\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"Bloomberg Thematic Indices\"\n        >\n                      Bloomberg Thematic Indices\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n<div\n    class=\"bbg-spacer\"\n        style=\"height: 32px !important\"\n    >\n<\/div><hr class=\"bbg-separator bbg-separator-1\" style=\"height:1px;\" \/>\n<\/p>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-1\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-6\"\n    style=\"\"\n    >\n    <div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>The issue<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>The Multi-Thematic Index advanced 50% through October 15, driven by AI models moving from concept to reality and consuming heavy resources in the process. Returns for the Mag 7 and the broader World indexes lagged at 17%, constrained by valuation concerns. Bank of America\u2019s investor survey found that <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-10-12\/what-happens-if-the-ai-bubble-bursts\">fears of an AI bubble<\/a> topped risk lists, prompting diversification.<\/p>\n\n<\/div>\n\n<\/div><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0590da2f432'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Meanwhile, the China Tech 8, a company basket created by Bloomberg Intelligence and including companies such as Alibaba Group Holding, Baidu, and Pinduoduo Inc, gained 42%, but <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-10-14\/us-china-trade-tensions-erupt-over-shipping-triggering-stock-losses\">rising trade tensions<\/a> have since slowed the momentum of that rally.<\/p>\n<p>Notably, as the chart below shows, leadership dynamics have shifted: Intel, Alibaba and Baidu now occupy the chart\u2019s upper-right corner, signaling rising strength. Meanwhile, Meta, Nvidia and Microsoft have slowed. The scatter chart uses proprietary indicators of relative performance of securities versus the benchmark. The X-axis shows the RS-ratio, measuring strength. The Y-axis shows RS-momentum, measuring direction and pace of the RS-ratio line.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"2352\" height=\"1448\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth\" title=\"Screenshot\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 2352w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 2048w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-2-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 175w\" sizes=\"auto, (max-width: 2352px) 100vw, 2352px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--margin-top-compact bbg-row--margin-bottom-compact bbg-row--full-bg-bleed\" data-anchor='row-6a0590da33c03'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <div\n    class=\"bbg-column\"\n    style=\"\"\n    >\n    <div class=\"bbg-interstitial\" aria-label=\"interstitial\" tabindex=\"0\">\n\t<style>\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\tbackground: url(https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Interstitial_bg.png);\n\t\t\t\tbackground-repeat: no-repeat;\n\t\t\t\tbackground-position: center center;\n\t\t\t\tbackground-size: cover;\n\t\t\tpadding: 104px;\n\t\t\t\n\t\t\t\n\t\t}\n\t\t.bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content, .bbg-interstitial #card_2.bbg-card_hasCta .bbg-card__content p{\n\t\t\tcolor:white;\n\t\t}\n\t\t@media (max-width: 768px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 32px;\n\t\t\t}\n\t\t}\n\t\t@media (max-width: 480px) {\n\t\t\t.bbg-interstitial #card_2.bbg-card_hasCta{\n\t\t\t\tpadding: 80px 18px;\n\t\t\t}\n\t\t}\n\t<\/style>\n\t<div class=\"wpb_content_element bbg-card  bbg-card-dark bbg-card_hasCta has_interstitial\" id=\"card_2\" data-card_type=\"no_image\">\n  \n  \n  <div class=\"bbg-card__innerwrapper\">\n    <div class=\"bbg-card__content\">\n      \n      \n                      <h3 class=\"bbg-card__title\">Tailored indices insights and invitations in your inbox<\/h3>\n      \n              <div class=\"bbg-card__wysiwyg bb-wysiwyg\"><p>Sign up<\/p>\n<\/div>\n          <\/div>\n\n          \n<div\n  id=\"cta_748407989074731902\"\n  class=\"wpb_content_element bbg-cta icon icon-arrow\">\n  <style>\n    \n    \n    \n  <\/style>\n  <div\n    class=\"bbg-cta-link link-holder\"\n    data-links-type=\"cta-links\">\n    <p class=\"bbg-cta-p right\">\n      <a\n        class=\"bbg-cta-link link interstitial_cta\"\n        href=\"https:\/\/www.bloomberg.com\/professional\/explore\/indices-insights-tailored-to-your-interests\/\"\n        target=\"\"\n        rel=\"\"\n        data-section-name=\"\"\n                role=\"button\"\n        aria-label=\"Learn more\"\n        >\n                <\/a>\n    <\/p>\n  <\/div>\n<\/div>\n\n      <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n<\/div>\n\n\n                    <\/div>\n    <\/section>\n<\/div>\n\n<div  class=\"bbg-row-container\">\n    <section class=\"bbg-row  text--black row-padding--top-none row-padding--bottom-none bbg-row--full-bg-bleed\" data-anchor='row-6a0590da38184'>\n        \n        \n        <div\n            class=\"bbg-row--content\"\n                    >\n            \n            <p><div\n    class=\"bbg-column bbg-column--width-2\"\n    style=\"\"\n    >\n    \n<\/div><div\n    class=\"bbg-column bbg-column--width-8\"\n    style=\"\"\n    >\n    <p><div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Meanwhile, the China Tech 8, a company basket created by Bloomberg Intelligence and including companies such as Alibaba Group Holding, Baidu, and Pinduoduo Inc, gained 42%, but <a href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-10-14\/us-china-trade-tensions-erupt-over-shipping-triggering-stock-losses\">rising trade tensions<\/a> have since slowed the momentum of that rally.<\/p>\n<p>Notably, as the chart below shows, leadership dynamics have shifted: Intel, Alibaba and Baidu now occupy the chart\u2019s upper-right corner, signaling rising strength. Meanwhile, Meta, Nvidia and Microsoft have slowed. The scatter chart uses proprietary indicators of relative performance of securities versus the benchmark. The X-axis shows the RS-ratio, measuring strength. The Y-axis shows RS-momentum, measuring direction and pace of the RS-ratio line.<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"2346\" height=\"1338\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg\" title=\"Screenshot\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 2346w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 2048w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-1-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 189w\" sizes=\"auto, (max-width: 2346px) 100vw, 2346px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>Among firms holding the most cash, Alibaba led with a 99% jump and Tencent followed with 52%. Amazon and Apple moved the other way, posting declines. The rise of AI enablers like Samsung, Engie, Broadcom and Siemens Energy added to the index\u2019s gains.<\/p>\n<p>Bloomberg Intelligence notes that index members hold roughly $410 billion in cash, giving them the capacity to accelerate growth across themes including AI, disruptive energy and robotics. Since 2018, they\u2019ve already funneled about $850 billion into deals across public and private markets, underscoring their willingness to reinvest in innovation.<\/p>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<h2>Tracking<\/h2>\n\n<\/div>\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>To see rotation of leadership momentum in Multi-Thematic Index, run Relative Rotation Graph using RRG &lt;GO&gt; function on the Bloomberg Terminal.<\/p>\n<p>To analyze returns, cash holdings, forecast growth and valuations run BMULTIT Index WATC for a view of multi-thematic index fundamentals.<\/p>\n<p>For the latest Bloomberg Intelligence thematic research, run BI THEM &lt;GO&gt; on the Bloomberg Terminal.<\/p>\n<p>To analyze the characteristics of BMULTIT Index\u2019s outperformance, run BMULTIT Index PORT WS \/I<\/p>\n\n<\/div>\n<div id=\"\" class=\"wpb_content_element bbg-single-image align-center\">\n    <figure class=\"bbg-single-image__figure\" style=\"max-width:100%\">\n                <img loading=\"lazy\" decoding=\"async\" width=\"2348\" height=\"1462\" src=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg\" class=\"bbg-single-image__image attachment-full\" alt=\"Figure 3 - Multi-theme index outpaces Mag 7 amid AI growth\" title=\"Screenshot\" srcset=\"https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 2348w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 552w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 800w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 768w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 1536w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 2048w, https:\/\/assets.bbhub.io\/image\/v1\/resize?width=auto&amp;type=webp&amp;url=https:\/\/assets.bbhub.io\/professional\/sites\/41\/Figure-3-Multi-theme-index-outpaces-Mag-7-amid-AI-growth.jpeg 173w\" sizes=\"auto, (max-width: 2348px) 100vw, 2348px\" \/>\n        \n            <\/figure>\n<\/div>\n\n<div\n\tclass=\"bb-wysiwyg\"\n\t\t>\n\t<p>F<em>or more information on this or other functionality,\u00a0<\/em><a href=\"https:\/\/www.bloomberg.com\/professional\/request-demo\/?tactic-page=945590\"><em>click here<\/em><\/a><em>\u00a0to request a demo with a Bloomberg sales representative. 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shows.<\/p>\n","protected":false},"author":1933,"featured_media":104986,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-article.php","format":"standard","meta":{"_yoast_wpseo_primary_category":"453","footnotes":""},"categories":[3715,453,3661],"tags":[603,454,547],"series":[],"class_list":["post-129022","post","type-post","status-publish","format-standard","hentry","category-artificial-intelligence","category-markets","category-technology","tag-ai-machine-learning","tag-equities","tag-indices","type-article"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.11 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Multi-theme index outpaces Mag 7 amid AI growth | Insights | Bloomberg Professional Services<\/title>\n<meta name=\"description\" content=\"Bloomberg\u2019s Multi-Thematic Index (BMULTIT) climbed 50% through October 2025 as AI breakthroughs and capital deployment across industries outpaced traditional tech 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