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Investors are casting an increasingly critical eye toward artificial intelligence stocks, prompting Trivariate Research to look into names with few or no ties to the red-hot sector. AI stocks pulled back last week, pausing their relentless rally as investors’ confidence in Silicon Valley cooled. Software and hardware companies Oracle , Micron Technology , Broadcom and C3.ai slipped between roughly 1.5% and 5% for the week that ended Sept. 26 as investors reassessed their sky-high valuations. The tech-focused Nasdaq Composite fell 0.7%, marking its weakest weekly performance since early August. AI-related names are still sharply higher this year. But investors can protect their portfolios by investing in companies that have little to no exposure to AI, according to Trivariate Research. The research firm’s list of non-AI stocks includes several companies across a wide range of industries, from health-care services to specialty retail and media. Trivariate screened for non-technology stocks with six-month daily trading correlations of 0.2 or lower to Trivariate’s AI semiconductors basket. The stocks must also have risen at least 10% over the past six months, as of Sept. 25. Johnson & Johnson The pharmaceutical company’s stock is up 25.6% this year. Johnson & Johnson announced earlier in 2025 that it would allocate more than $55 billion to manufacturing, research and development, and technology investments in the U.S. over the next four years, propelling its shares higher. Paramount Skydance Born out of an $8 billion merger between Paramount Global and Skydance, Paramount Skydance has rallied roughly 86% in the year to date. The media and entertainment conglomerate’s stock notched gains as Paramount Global slashed its workforce more than 3% this summer and made other moves to restructure its struggling broadcast business. Earlier this month, the stock rose again on news that Paramount Skydance planned to acquire Warner Bros. Discovery. CVS The retail giant’s shares have jumped 68.3% in the year to date, fueled by its deep cost-cutting measures. CVS unveiled last year plans to shutter more than 270 stores by the end of 2025, in addition to laying off nearly 3,000 employees. The company has also taken measures to downsize its insurance unit, which has eaten into its revenue in recent financial quarters. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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