Forge insights

While the AI industry may be capturing most of the investment headlines lately, the aerospace & defense (A&D) sector is also on a tear. In fact, in both September and October 2025, the Forge thematic basket of A&D private market stocks outperformed the Forge AI thematic basket. And over the past year, the A&D basket is up around 139%, almost as much as the whopping 171% gain for AI.