Columbia Threadneedle Investments, an investment management company, released its "Columbia Seligman Global Technology Fund" second quarter 2026 investor letter. Technology stocks rallied as concerns over the Iran conflict eased and AI infrastructure spending boosted demand for semiconductors, memory, networking, servers and power solutions. However, geopolitical uncertainty, higher interest rates and heavy AI investment could pressure valuations and free cash flow. While we acknowledge the potential of GoDaddy Inc. (NYSE:GDDY) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.