Pnc Financial Services Group, INC.

• FM Fiduciary Management Q2 2026 Investment Strategy Outlook ↗ Fiduciary Management argues that AI infrastructure spending reflects concentrated speculation and that hyperscalers face demanding economics to earn adequate returns on capital. It favors overlooked businesses positioned to capture AI-driven cost savings, citing FTI Consulting, Capital One and Fluidra as examples of durable franchises trading at attractive valuations. Q2 2026 AMZN $2.7TCOF $123BFCN $3.8B +5

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