California leads the nation in AI-powered investment research activity, but new data suggests the technology is redefining how retail investors operate across the country.
The Investing.com AI Investing Index analyzed 12 months of anonymized user activity from September 1, 2025 to August 31, 2026, tracking two distinct behaviors: the use of WarrenAI, the platform’s own AI-powered market research assistant, and engagement with AI-focused stock content on the platform. Both measures were normalized per 1,000 unique users in each state. The final ranking covers 37 states that met a minimum audience threshold of 10,000 Investing.com users.
California ranked first overall, followed by Ohio and Colorado, which tied for second. Florida and Texas rounded out the top five. New York came in 13th. New Jersey ranked 27th.
Utah ranked sixth, Hawaii eighth and Michigan ninth, while Minnesota completed the top 10, a mix that bears little resemblance to the traditional map of American finance.
"What this data shows is people doing more research, not less," said Thomas Monteiro, senior analyst at Investing.com in New York. "AI has opened up information that was previously out of reach for retail investors, and that's leveling the playing field with the professional side of the market. The outcome is the most significant shift we're tracking right now: a measurably more sophisticated retail investor - and as the rankings show, that's happening everywhere."
Clients who once arrived at meetings having skimmed a few news headlines are now coming in having run stock screens, reviewed technical indicators and consulted AI chatbots on earnings data. AI is changing how investors research, not who they trust according to separate HSBC research cited by InvestmentNews, which found that human advisors remain the decisive voice when investment decisions are ultimately made - but the nature of client conversations is evolving fast.
Breaking out the two components of the index reveals a more nuanced picture of how and why investors in different states are engaging with AI.
Florida recorded the highest rate of WarrenAI usage among all states in the analysis, with approximately 451 interactions per 1,000 Investing.com users. Texas followed at approximately 329 interactions per 1,000 users, California at 321 and Ohio at 318.
Pennsylvania, which ranked seventh overall, led the country in engagement with AI-focused stock content, with approximately 6.83 page views per 1,000 users - the highest of any state included. Virginia posted approximately 5.82 AI stock page views per 1,000 users despite finishing 17th overall.
The divergence points to two distinct patterns of AI adoption among retail investors: those using AI primarily as a research tool to inform their decisions, and those using it primarily to identify and track investment opportunities in AI-related companies.
Advisors working in high-activity states may find clients are arriving better prepared but also carrying assumptions shaped by AI-generated analysis that may not account for individual circumstances, tax considerations or risk tolerance.
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Across the Investing.com platform, WarrenAI generated approximately 2.79 million interactions over the 12-month period analyzed. The queries spanned a broad range of topics: stock statistics, technical analysis, company news, economic calendar events, dividend histories and financial statements.
The breadth of that activity signals something more than casual curiosity. Advisors snapping up AI tools at record pace according to InvestmentNews coverage of Osaic's 2026 advisor survey, a trend that mirrors what is happening on the client side. AI is increasingly embedded in both ends of the advisory relationship.
A separate March 2026 Investing.com survey of 938 American adult investors found that 62% had already used AI to inform an investment decision, according to data published by Investing.com. More than half said they expected their use of AI tools to increase. Among specific tools, AI chatbots such as ChatGPT were the most widely used, with 54% of respondents reporting they had used one for investing-related research.
Monteiro offered a pointed read on the geographic results.
"Proximity to Wall Street used to count for a great deal in research terms," he said. "This data suggests it now counts for less than it did. The states at the top of the AI index tend not to be the ones with the financial infrastructure. What we may be watching is a catch-up, with investors who were a step behind on access closing that gap, and in a few states closing it altogether."
That dynamic has a direct bearing on how advisors position themselves. How AI is transforming the financial planning profession examined by InvestmentNews in recent coverage, underscores that the technology is not simply a back-office efficiency tool, it is reshaping what clients expect from their advisors before they even walk in the door.
The Federal Reserve, in a November 2025 research note, estimated that generative AI usage among the U.S. workforce had reached approximately 41%, with finance among the highest-adoption sectors at 63%, according to Federal Reserve Board research. The Investing.com state-level data adds a retail dimension to that broader picture, showing where AI-assisted investment behavior is currently most concentrated and suggesting the gap between high- and low-engagement states may close faster than the industry expects.
Globally, the United States ranked 19th among 66 qualifying countries in the Investing.com AI Investing Index. Italy led internationally, followed by Poland, Israel, Chile and Argentina, according to the September 2026 Investing.com analysis.
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