Artificial intelligence
266 of 521 companies added a paragraph in Risk Factors that uses one of these words:
AI, artificial intelligence, machine learning, generative, large language model.
The paragraph is in the latest 10-K and nothing like it was in the one before.
It counts text; it does not say how serious a risk is. Words in capitals only (such as AI) must be in capitals.
By sector
Sector is the SEC's industry description of the company. Each count opens that sector's quotes below.
| Sector | Companies | Compared |
|---|---|---|
| Orthopedic, Prosthetic & Surgical Appliances & Supplies | 5 | 5 |
| Services-Consumer Credit Reporting, Collection Agencies | 3 | 3 |
| Computer Peripheral Equipment, NEC | 2 | 2 |
| Men's & Boys' Furnishgs, Work Clothg, & Allied Garments | 2 | 2 |
| Retail-Catalog & Mail-Order Houses | 2 | 2 |
| Rubber & Plastics Footwear | 2 | 2 |
| Services-Medical Laboratories | 2 | 2 |
| Transportation Services | 2 | 2 |
| Air Courier Services | 1 | 1 |
| Aircraft & Parts | 1 | 1 |
| Aircraft Parts & Auxiliary Equipment, NEC | 1 | 1 |
| Apparel & Other Finishd Prods of Fabrics & Similar Matl | 1 | 1 |
| Bottled & Canned Soft Drinks & Carbonated Waters | 1 | 1 |
| Communications Equipment, NEC | 1 | 1 |
| Drawing & Insulating of Nonferrous Wire | 1 | 1 |
| Electrical Industrial Apparatus | 1 | 1 |
| Electromedical & Electrotherapeutic Apparatus | 1 | 1 |
| Electronic Components & Accessories | 1 | 1 |
| Engines & Turbines | 1 | 1 |
| Farm Machinery & Equipment | 1 | 1 |
| Games, Toys & Children's Vehicles (No Dolls & Bicycles) | 1 | 1 |
| Gas & Other Services Combined | 1 | 1 |
| General Industrial Machinery & Equipment, NEC | 1 | 1 |
| Grain Mill Products | 1 | 1 |
| Heavy Construction Other Than Bldg Const - Contractors | 1 | 1 |
| Insurance Carriers, NEC | 1 | 1 |
| Leather & Leather Products | 1 | 1 |
| Meat Packing Plants | 1 | 1 |
| Misc Industrial & Commercial Machinery & Equipment | 1 | 1 |
| Miscellaneous Manufacturing Industries | 1 | 1 |
| Motors & Generators | 1 | 1 |
| Newspapers: Publishing or Publishing & Printing | 1 | 1 |
| Oil & Gas Field Machinery & Equipment | 1 | 1 |
| Ordnance & Accessories, (No Vehicles/Guided Missiles) | 1 | 1 |
| Paints, Varnishes, Lacquers, Enamels & Allied Prods | 1 | 1 |
| Paper Mills | 1 | 1 |
| Real Estate | 1 | 1 |
| Retail-Computer & Computer Software Stores | 1 | 1 |
| Retail-Drug Stores and Proprietary Stores | 1 | 1 |
| Retail-Eating & Drinking Places | 1 | 1 |
| Retail-Grocery Stores | 1 | 1 |
| Retail-Home Furniture, Furnishings & Equipment Stores | 1 | 1 |
| Retail-Radio, Tv & Consumer Electronics Stores | 1 | 1 |
| Retail-Retail Stores, NEC | 1 | 1 |
| Rolling Drawing & Extruding of Nonferrous Metals | 1 | 1 |
| Services-Advertising Agencies | 1 | 1 |
| Services-Detective, Guard & Armored Car Services | 1 | 1 |
| Services-Engineering, Accounting, Research, Management | 1 | 1 |
| Services-Equipment Rental & Leasing, NEC | 1 | 1 |
| Services-Misc Health & Allied Services, NEC | 1 | 1 |
| Special Industry Machinery (No Metalworking Machinery) | 1 | 1 |
| Special Industry Machinery, NEC | 1 | 1 |
| Sugar & Confectionery Products | 1 | 1 |
| Telephone & Telegraph Apparatus | 1 | 1 |
| Television Broadcasting Stations | 1 | 1 |
| Trucking & Courier Services (No Air) | 1 | 1 |
| Wholesale-Electronic Parts & Equipment, NEC | 1 | 1 |
| Wholesale-Medical, Dental & Hospital Equipment & Supplies | 1 | 1 |
| X-Ray Apparatus & Tubes & Related Irradiation Apparatus | 1 | 1 |
| Computer Storage Devices | 4 | 5 |
| Services-Computer Programming, Data Processing, Etc. | 4 | 5 |
| Investment Advice | 6 | 8 |
| Retail-Eating Places | 3 | 4 |
| Services-Prepackaged Software | 14 | 19 |
| Surgical & Medical Instruments & Apparatus | 7 | 10 |
| Finance Services | 19 | 28 |
| Semiconductors & Related Devices | 10 | 15 |
| Insurance Agents, Brokers & Service | 4 | 6 |
| Electronic Computers | 2 | 3 |
| Measuring & Controlling Devices, NEC | 2 | 3 |
| Retail-Auto Dealers & Gasoline Stations | 2 | 3 |
| Retail-Building Materials, Hardware, Garden Supply | 2 | 3 |
| Services-Commercial Physical & Biological Research | 2 | 3 |
| Services-Computer Integrated Systems Design | 2 | 3 |
| Wholesale-Drugs, Proprietaries & Druggists' Sundries | 2 | 3 |
| National Commercial Banks | 7 | 11 |
| Hospital & Medical Service Plans | 3 | 5 |
| Industrial Instruments For Measurement, Display, and Control | 3 | 5 |
| Laboratory Analytical Instruments | 3 | 5 |
| Services-Business Services, NEC | 9 | 16 |
| Real Estate Investment Trusts | 15 | 27 |
| Electric Services | 8 | 15 |
| Electronic & Other Electrical Equipment (No Computer Equip) | 2 | 4 |
| Search, Detection, Navigation, Guidance, Aeronautical Sys | 2 | 4 |
| Services-Computer Processing & Data Preparation | 2 | 4 |
| Aircraft Engines & Engine Parts | 1 | 2 |
| Arrangement of Transportation of Freight & Cargo | 1 | 2 |
| Cigarettes | 1 | 2 |
| Cutlery, Handtools & General Hardware | 1 | 2 |
| Fats & Oils | 1 | 2 |
| Industrial Organic Chemicals | 1 | 2 |
| Instruments For Meas & Testing of Electricity & Elec Signals | 1 | 2 |
| Optical Instruments & Lenses | 1 | 2 |
| Paperboard Containers & Boxes | 1 | 2 |
| Printed Circuit Boards | 1 | 2 |
| Pumps & Pumping Equipment | 1 | 2 |
| Radio & Tv Broadcasting & Communications Equipment | 1 | 2 |
| Retail-Auto & Home Supply Stores | 1 | 2 |
| Services-Computer Programming Services | 1 | 2 |
| Services-General Medical & Surgical Hospitals, NEC | 1 | 2 |
| Services-To Dwellings & Other Buildings | 1 | 2 |
| Telephone Communications (No Radiotelephone) | 1 | 2 |
| Trucking (No Local) | 1 | 2 |
| Wholesale-Groceries & Related Products | 1 | 2 |
| Pharmaceutical Preparations | 5 | 11 |
| Crude Petroleum & Natural Gas | 3 | 7 |
| Electric & Other Services Combined | 5 | 12 |
| Retail-Variety Stores | 2 | 5 |
| Air Transportation, Scheduled | 1 | 3 |
| Computer & office Equipment | 1 | 3 |
| Computer Communications Equipment | 1 | 3 |
| Electrical Work | 1 | 3 |
| General Industrial Machinery & Equipment | 1 | 3 |
| Life Insurance | 1 | 3 |
| Perfumes, Cosmetics & Other Toilet Preparations | 1 | 3 |
| Plastic Materials, Synth Resins & Nonvulcan Elastomers | 1 | 3 |
| Soap, Detergents, Cleang Preparations, Perfumes, Cosmetics | 1 | 3 |
| Water Transportation | 1 | 3 |
| Security Brokers, Dealers & Flotation Companies | 2 | 7 |
| Fire, Marine & Casualty Insurance | 3 | 12 |
| Motor Vehicles & Passenger Car Bodies | 1 | 4 |
| Security & Commodity Brokers, Dealers, Exchanges & Services | 1 | 4 |
| Beverages | 1 | 5 |
| Biological Products, (No Diagnostic Substances) | 1 | 5 |
| Hotels & Motels | 1 | 5 |
| Petroleum Refining | 1 | 6 |
| State Commercial Banks | 1 | 6 |
833 paragraphs · Printed Circuit Boards show all sectors
•Risks and uncertainties related to the development and use of artificial intelligence ("AI") could harm our business, damage our reputation, or give rise to legal or regulatory action.
Read in the 10-K filed May 20, 2026 ↗
well as start-up, customer qualification and production ramp-up costs. We may not be able to achieve or maintain market acceptance for any of our offerings in any of our current or target markets. Our success will also depend upon the level of market acceptance of our customers' end products, which incorporate our products, and over which we have no control. In particular, demand for our cloud and power infrastructure solutions serving data center applications is significantly influenced by continued investment in AI, machine learning, and high-performance computing infrastructure by our customers, particularly hyperscale cloud providers. Capital expenditure cycles among hyperscale cloud providers and other data center operators can be volatile and are influenced by factors outside our control. While overall market trends toward increased demand for compute capacity and power infrastructure driven by AI and cloud applications have supported recent growth, there can be no assurance that such trends will continue at current rates, or at all. Any reduction in the rate of AI adoption, shifts in customer investment priorities, or technological developments that reduce demand for high-density computing infrastructure would adversely affect demand for our products and services.
Read in the 10-K filed May 20, 2026 ↗
Risks and uncertainties related to the development and use of AI could harm our business, damage our reputation, or give rise to legal or regulatory action.
Read in the 10-K filed May 20, 2026 ↗
We are incorporating AI solutions into aspects of our business, including our manufacturing operations, design and engineering services, and internal processes, and we also rely on AI tools used by our employees, vendors, or other third parties. AI technologies are complex and rapidly evolving, and our business may be adversely affected if we are unable to successfully integrate AI into our operations, products, and services in a timely and cost-effective manner. AI is subject to increasing regulatory, legal, and ethical scrutiny, and its use may give rise to risks related to accuracy, bias, intellectual property infringement or misappropriation, data privacy, cybersecurity, and compliance with evolving laws and regulations.
Read in the 10-K filed May 20, 2026 ↗
Our personnel or third parties could, unbeknownst to us, misuse AI technology in ways that could result in the inadvertent disclosure of our confidential information or that of our customers. The use of AI can result in unintended consequences, including outputs that appear accurate but are factually incorrect, misleading, or otherwise flawed. If the AI tools we use or rely upon are deficient or unreliable, we could experience operational disruptions, increased costs, compliance challenges, reputational harm, or legal exposure. In addition, the adoption of AI and automation technologies may affect our workforce strategy, which could require us to retrain or redeploy employees, modify certain job functions, and navigate evolving regulatory and workforce expectations.
Read in the 10-K filed May 20, 2026 ↗
Any actual or perceived failure to comply with applicable data privacy or cybersecurity laws, related contractual obligations, or other data protection standards, whether by us, a third-party service provider, or another party, could result in government inquiries, regulatory investigations, significant fines and penalties, orders to cease or modify our data practices, damages for contract breach, and civil litigation, as well as harm to our reputation and market position. We may also be required to invest significant additional resources to comply with evolving cybersecurity and AI-related regulations and to modify and enhance our information systems and controls. Our liability insurance may not be sufficient in type or amount to cover us against all claims related to privacy violations or regulatory non-compliance.
Read in the 10-K filed May 20, 2026 ↗
Government authorities in the United States and other jurisdictions have enacted, proposed, or are considering laws and regulations relating to data center development and permitting, energy and water consumption, grid reliability, and environmental and community impacts. These regulatory developments may result in new requirements, delays, or restrictions on the development, expansion, or operation of data centers or related infrastructure by our customers and third-party facility operators. In particular, certain jurisdictions have imposed or are considering moratoria or pauses on new data center development, enhanced permitting and environmental review processes, requirements for data center operators to fund or share in the cost of grid or other utility upgrades, and operational restrictions relating to energy efficiency, water consumption, noise mitigation, or other community-impact measures. Such regulatory actions could increase our customers’ costs, delay or reduce their planned infrastructure investments, limit the scale or geographic location of data center deployments, or otherwise constrain their ability to deploy or expand AI, machine learning, and high-performance computing infrastructure. Given our Cloud and Power Infrastructure businesses’ exposure to data center development activity, any sustained reduction or delay in data center investment resulting from regulatory developments could materially and adversely affect demand for our products and services, our results of operations, and our financial condition.
Read in the 10-K filed May 20, 2026 ↗