Robotics, scientific discovery are key 2026 themes for AI market: Gabelli's Belton

Summary

John Belton of Gabelli Funds discusses the 2026 AI playbook on CNBC's Closing Bell Overtime, arguing that the AI infrastructure buildout remains early innings and that large tech fundamentals are still strong. He favors picks-and-shovels AI infrastructure, NVIDIA, robotics and autonomous driving, scientific discovery, agentic software, and the Mag Six excluding Tesla. The conversation also touches on broader market broadening, but Belton focuses mainly on large-cap tech and AI-layer exposure.

• John Belton says AI infrastructure spending still feels early innings.
• He remains positive on large tech fundamentals, including NVIDIA.
• Robotics, physical AI, and autonomous driving are expected to remain key themes in 2026.
• Scientific discovery is highlighted as a major emerging AI theme.
• Belton likes the picks-and-shovels chip and data center infrastructure layer.
• He says the AI application layer, especially agentic software, is the next area to watch.
• The Mag Six excluding Tesla is described as still growing revenue near 20% and earnings above 30%.
• He acknowledges market broadening in late 2025 but does not give a specific broadening trade.