SPGI, MSCI Seek Feedback on GICS Updates for AI and Tech
š£ The Announcement
S&P Dow Jones Indices (a division of S&P Global, ticker: SPGI) and MSCI Inc. (ticker: MSCI) are asking for public feedback on potential updates to the Global Industry Classification Standard (GICSĀ®).
š This is a significant move because GICS is the universal system that categorizes companies into sectors and industries globally, helping investors understand and compare businesses.
š¢ Company Context
š In simple terms, S&P Dow Jones Indices and MSCI are like the architects of the financial market's organizational structure. S&P DJI is known for creating iconic benchmarks like the S&P 500Ā®, while MSCI provides critical decision support tools for investors.
Together, they developed GICS, a comprehensive framework that classifies companies into 11 sectors, 25 industry groups, 74 industries, and 163 sub-industries. This system is crucial for investors to build diversified portfolios and analyze market trends effectively.
š„ Why It Matters
Changes to the GICS structure can have a ripple effect across global financial markets. Many investment funds, especially those that track specific sectors or industries, rely heavily on these classifications to decide what to buy or sell.
š If a company's GICS classification changes, it can trigger significant trading activity as funds adjust their holdings to match the new categories. The proposed updates, particularly those related to Artificial Intelligence (AI) and semiconductors, highlight how rapidly technology is reshaping the global economy and investment landscape.
š The Details
The consultation focuses on several key areas, primarily driven by the rapid evolution of technology and new business models.
They are looking at how to classify companies involved in Artificial Intelligence (AI), including those developing
Original release
NEW YORK, July 17, 2026 /PRNewswire/ -- S&P Dow Jones Indices (S&P DJI), a leading provider of financial market indices, and MSCI Inc. (MSCI), a leading provider of critical decision support tools and services have decided to consult with members of the investment community on potential changes to the GICS structure.
The review is intended to ensure that the GICS structure is reflective of today's markets and continues to be an accurate and complete industry framework.
The consultation begins on July 17, 2026, and ends on October 30, 2026. Any changes to the GICS structure will be announced by November 2026. This consultation may or may not result in any changes to the GICS structure.
Key topics under review*:
Classification of Artificial Intelligence (AI) related business models
Restructuring the Semiconductors Sub-Industry
Definition updates for High-Performance Computing As-a-Service (HPCaaS) and AI Data Lifecycle Services
Classification of Foundation Model Developers
Updates to the Application Software Sub-Industry
Classification of Listed Investment Companies
The consultation document with detailed proposals is available on S&P Dow Jones Indices' Web site at: https://www.spglobal.com/spdji/en/landing/topic/gics/ and MSCI's Web site at: www.msci.com/gics.
- A select list of companies with a market capitalization exceeding USD 2 billion that may be affected by this proposal is available for clients for illustrative purposes.
MODE OF CONSULTATION
There are two options for participating in this year's consultation:
Click on the links below to participate in the online survey
S&P: Link
MSCI: Link
- Contact one of the following email addresses with your feedback
S&P: [email protected]
MSCI: [email protected]
Contact your MSCI / S&P DJI Account Manager
For a detailed description of GICS, please refer to S&P Dow Jones Indices' Web site at https://www.spglobal.com/spdji/en/landing/topic/gics/ or the MSCI's Web site at www.msci.com/gics.
About S&P Dow Jones Indices
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500Ā® and the Dow Jones Industrial AverageĀ®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji.
Media Inquiries
[email protected]
About MSCI
MSCI (NYSE: MSCI Inc.) strengthens global markets by connecting participants across the financial ecosystem with a common language. Our research-based data, analytics and indexes, supported by advanced technology, set standards for global investors and help our clients understand risks and opportunities so they can make better decisions and unlock innovation. We serve asset managers and owners, private-market sponsors and investors, hedge funds, wealth managers, banks, insurers and corporates. To learn more, please visit www.msci.com.
The process for submitting a formal index complaint can be found on the index regulation page of MSCI's website at: https://www.msci.com/index-regulation.
Media Inquiries
[email protected]
Melanie Blanco
+1 212 981 1049
Konstantinos Makrygiannis
+44 77 6893 0056
Tina Tan
+852 2844 9320
MSCI Global Client Service:
EMEA Client Service
- 44 20 7618 2222
Americas Client Service
+1 888 588 4567
Asia Pacific Client Service
- 852 2844 9333
Disclaimer
This document has been prepared by MSCI and S&P Dow Jones Indices LLC and its affiliates ("S&P Dow Jones Indices") solely for informational purposes. All of the information contained herein, including without limitation all text, data, graphs, charts (collectively, the "Information") is the property of MSCI, S&P Dow Jones Indices, or their respective affiliates. The Information may not be reproduced or redisseminated in whole or in part without prior written permission from MSCI and S&P Dow Jones Indices.
None of the proposals or alternatives set forth herein has been adopted by MSCI, S&P Dow Jones Indices or Standard & Poor's Financial Services LLC ("S&P"), an affiliate of S&P Dow Jones Indices, and there is no assurance that they may be considered or adopted, in whole or in part, by any such party.
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None of the Information constitutes an offer to sell (or a solicitation of an offer to buy), any security, financial product or other investment vehicle.
The Information does not, and is not intended to, recommend, endorse, approve or otherwise expresses any opinion regarding any issuer, security, financial product or trading strategy and none of the Information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such.
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of MSCI and S&P. "Global Industry Classification Standard (GICS)" is a service mark of MSCI and S&P.
SOURCE S&P Dow Jones Indices