Beneath the surface calm of rising broad indexes, a quiet but consequential repricing is underway in global equity markets — one that separates companies with genuine artificial intelligence exposure from those merely adjacent to the technology wave. Portfolio manager Darren Sissons, observing this rotation with the patience of someone who has watched markets reward and punish narratives before, sees in the current moment an opportunity for disciplined positioning. His three selections — Alphabet, McKesson, and Nestlé — reflect a philosophy that blends valuation discipline, structural defensiv