External shocks and domestic challenges made 2025 a tough year for Indian equities. In the latest episode of The Investor’s Guide to Asia, Fidelity International Investment Director Nitin Mathur discusses the chances of a turnaround in 2026 and why we should focus more on India’s long-term growth story.

With Stuart Rumble and Toasha Wang. Additional contributions from Portfolio Manager Terence Tsai and Asia Economist Peiqian Liu.

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Surging interest in artificial intelligence has generated huge gains for tech stocks across the world this year. But with the stock market hitting new highs, there are growing concerns that we might be in the midst of an AI bubble. In this bonus edition of the Fidelity Answers podcast we put four possible flaws in the AI investment case to Terence Tsai, one of the portfolio managers who has invested strongly in the boom and therefore one of the people looking hardest for evidence of when it ends.

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Demand isn’t the main driver of profitability, supply is. In the latest edition, portfolio managers Fred Sykes and Tom Record look for the money left in the AI boom and places to hide if it goes wrong, while arguing investors should obsess a bit less about GDP growth and macroeconomics.

Plus: analyst Srishti Sinha on the risks to a US power sector flooded with datacentre investment.

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