But this year, the Magnificent Seven has looked more like the Magnificent Two, the Middling Two and the Meh Three. As investors have come to focus on the importance of AI, Nvidia and Meta have surged ahead, Microsoft and Amazon have done reasonably well, and the other three have trailed the S&P 500 index. “No matter how good it is, if it doesn’t have that AI component, you’re not going to drive investors’ attention right now,” says Kim Forrest, chief investment officer at Bokeh Capital Partners.