S&P DOW JONES INDICES AND MSCI ANNOUNCE CONSULTATION ON POTENTIAL CHANGES TO THE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS®)

S&P Dow Jones Indices (S&P DJI) and MSCI Inc. (MSCI) have decided to consult with members of the investment community on potential changes to the Global Industry Classification Standard (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 include the 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, and classification of Listed Investment Companies. The consultation document with detailed proposals is available on S&P Dow Jones Indices' website and MSCI's website. There are two options for participating in this year's consultation: participating in the online survey or contacting specific email addresses with feedback. 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 500® and the Dow Jones Industrial Average®. MSCI strengthens global markets by connecting participants across the financial ecosystem with a common language. Their research-based data, analytics and indexes, supported by advanced technology, set standards for global investors and help clients understand risks and opportunities.