The AI stock rally is minting US millionaires at its fastest clip in 4 years

A Capgemini report finds the AI-driven stock rally boosted the number of high-net-worth individuals by 2 million to 25.3 million through 2025 and lifted their total wealth to $98.3 trillion, an 8.7% YoY rise. Wealthy investors increased equity allocations (global +3pp to 25%; US +5pp to 27%), amplifying demand for public deals. The wave of mega AI IPOs (SpaceX, Anthropic, OpenAI) and large equity raises (Alphabet’s $85B follow-on) could be absorbed by the current liquidity environment, according to Goldman CEO David Solomon, potentially creating reinforcing “flywheel” effects for markets and wealth managers. Overall market implication: AI gains are concentrating wealth, increasing equity exposure, and supporting capacity for large capital markets transactions.