--- title: "GICS Industry Classification" description: "Explore 237 GICS categories and example usages tracing AI concentration, semiconductor shortages and commercial-property stress across exposed industries." url: "https://nosible.com/ontologies/gics" --- [Home](https://nosible.com/) [Ontologies](https://nosible.com/ontologies) GICS Ontology field guide By NOSIBLE Research Updated 2026-07-18 # GICS Industry Classification GICS shows which parts of the economy an event concerns, preserving industry structure that a broad technology label removes. Industry exposure is not one variable. Semiconductor capacity, cloud-platform investment and data-centre buildout may all involve artificial intelligence, but they transmit through different companies, margins and risks. GICS separates them into sectors, groups, industries and sub-industries. World assigns that hierarchy to reporting so researchers can build cohorts at the required economic level. [[ 1 ]](https://www.msci.com/documents/1296102/11185224/GICS%20Methodology%202023.pdf) GICS supports peer selection, exposure measurement and spillover tests. It does not replace issuer fundamentals or a point-in-time security master. This guide provides the structure, World statistics, an AI-trade study and a falsifiable test of whether industry attention adds information beyond event volume. [[ 2 ]](https://doi.org/10.1046/j.1475-679X.2003.00122.x) Categories 237 categories Structure 4 levels World events labelled 23.0% Stable codes Since v1 Release data CC0 On this page [01 Foundations](https://nosible.com/ontologies/gics#foundations) [02 Categories](https://nosible.com/ontologies/gics#vocabulary) [03 Example usages](https://nosible.com/ontologies/gics#trends) [04 Downloads and references](https://nosible.com/ontologies/gics#downloads) Foundations ## GICS classification separates companies through four sector and industry levels globally GICS assigns companies according to their principal business activity. The hierarchy runs from sector to industry group, industry and sub-industry. Revenue is the primary classification input, with earnings and market perception used where business lines are mixed. The nested structure lets a researcher move from a broad economic exposure to a tighter operating peer group without changing classification systems. [[ 1 ]](https://www.msci.com/documents/1296102/11185224/GICS%20Methodology%202023.pdf) World classifies the economic activity expressed in an event record. It does not assert that every named company belongs to the selected sub-industry, and it does not resolve conglomerate revenue across segments. Event-level GICS labels should be joined to a point-in-time issuer classification when the test concerns security membership. Results should also survive alternative peer definitions because industry schemes differ in how well they explain returns, valuation multiples and growth. Event and issuer classifications answer different questions. [[ 2 ]](https://doi.org/10.1046/j.1475-679X.2003.00122.x) Categories ## GICS organises 237 categories into sectors, groups, industries and sub-industries GICS has four nested levels: 12 sector roots, followed by industry groups, industries and 164 leaf sub-industries. Each World assignment records one path at the available depth. The explorer exposes definitions, stable codes, full paths and World V1.2 counts. Search and bounded expansion keep the same interface usable across the complete hierarchy. [[ 1 ]](https://www.msci.com/documents/1296102/11185224/GICS%20Methodology%202023.pdf) Search code, label, definition or path 12 shown · 237 total Labelled events **3,516,971** World coverage **23.0%** All World events **15,311,040** 3,516,971 of 15,311,040 World events carry labels from GICS Industry Classification. Select a category to see its count and both relevant shares. Hierarchy sector / industry_group / industry / sub_industry + Energy Oil, gas, drilling and field-service activity · 2 children + Materials · 5 children + Industrials · 3 children + Consumer Discretionary · 4 children + Consumer Staples · 3 children + Health Care · 2 children + Financials · 3 children + Information Technology · 3 children + Communication Services · 2 children + Utilities · 5 children + Real Estate · 2 children Other Energy ### Energy Copy link #### Definition Energy production, drilling and field services. Potential research use Oil, gas, drilling and field-service activity Code Energy Events with label 137,455 Share of labelled 3.9% Share of World 0.9% **Events with label** is the selected count. **Label share** divides it by 3,516,971 assigned events; **World share** divides it by all 15,311,040 events. #### Representative World V1.2 events One strong classified example per available year, with up to ten years shown. 10 examples 1. 2015-05-19Duke Energy Closes Aging Lake Julian Coal Plant in AshevilleCoverage 68 2. 2016-07-05Noble Energy Sells 3% Tamar Field Stake for $369 MillionCoverage 18 3. 2017-03-27Hurricane Energy Finds Largest Undeveloped UK Oil Field Off ShetlandCoverage 29 4. 2019-06-05Hurricane Energy Achieves First Oil at UK's Lancaster Fractured FieldCoverage 23 5. 2020-06-05Aker Energy Revives Ghana Pecan Offshore Oil Field Development PlansCoverage 21 6. 2021-11-23US Releases 50 Million Barrels Oil to Lower Energy CostsCoverage 1,461 7. 2022-06-06Hezbollah Threatens Israel Over Sea Boundary Energy DrillingCoverage 250 8. 2024-06-11Woodside Energy Achieves First Oil at Senegal's Sangomar Offshore FieldCoverage 183 9. 2025-05-14Valeura Energy Approves Wassana Field Redevelopment in ThailandCoverage 64 10. 2026-02-11Birchcliff Energy Reports Record 2025 Production and Strong Financial ResultsCoverage 132 Browse categories to compare definitions, World V1.2 statistics and representative classified events. Example usage 1 of 3 ### Example Usage: AI coverage rises sevenfold and concentrates in fewer industries over time World contains 13,730 entity-resolved English events that discuss artificial intelligence, carry a GICS sub-industry and name one of 15 compute or platform companies. Normalized coverage rises more than sevenfold after November 2022. The top-three sub-industry share increases from 48.7% to 59.9%, while effective sub-industries fall from 9.9 to 7.0. [[ 3 ]](https://openai.com/index/chatgpt/) Semiconductors rise from 19.8% to 28.7% of the cohort. A compute-infrastructure basket reaches 42.5%, up from 33.3%. Higher attention and narrower industry breadth mean an AI basket can conceal shared economic exposure. ChatGPT's launch sets the boundary; it does not establish causality or portfolio crowding. [[ 4 ]](https://www.sec.gov/Archives/edgar/data/1045810/000104581024000029/nvda-20240128.htm) [[ 5 ]](https://www.bis.gov/press-release/commerce-strengthens-restrictions-advanced-computing-semiconductors-semiconductor-manufacturing-equipment) Entity-resolved AI reporting · monthly 2020-01 to 2026-06 **AI-company coverage rises sevenfold and concentrates in three technology industries** stacked rate per million English events · three-month half-life Semiconductors Interactive Media & Services Application Software Other industries Before December 2022 **509 per million** December 2022 onward **3948 per million** The intensity line divides the remembered cohort by remembered English World events. Phase comparisons pool all events before December 2022 and all events afterwards. Rising normalized AI attention alongside fewer effective sub-industries indicates concentration in reporting exposure, not portfolio crowding or causality. Example usage 2 of 3 ### Example Usage: Automakers and chipmakers capture 84% of classified semiconductor-shortage coverage across exposed industries The 2021 semiconductor shortage is not only a chipmaker story. Automobile Manufacturers and Semiconductors each contribute 279 assignments, or 41.9% of the 666-event cohort. Together they account for 83.8% of classified coverage. Monthly normalized attention peaks at 2,198 events per million in October as production constraints persist. [[ 6 ]](https://www.commerce.gov/news/press-releases/2022/01/commerce-semiconductor-data-confirms-urgent-need-congress-pass-us) GICS separates suppliers from customers inside one supply-chain shock. Industry composition shows whether reporting concentrates on scarce components, curtailed vehicle production or downstream exposure. The result defines distinct equity cohorts for estimating inventory, margin and delivery effects instead of treating every semiconductor-shortage article as the same sector signal across portfolios in research. [[ 7 ]](https://www.whitehouse.gov/wp-content/uploads/2021/06/100-day-supply-chain-review-report.pdf) Automobile Manufacturers 41.9% Semiconductors 41.9% Other sub-industries 16.2% GICS sub-industry composition 666 assigned events **41.9 %** **41.9 %** **16.2 %** **Automobile Manufacturers** 279 events **Semiconductors** 279 events **Other sub-industries** 108 events The fixed English cohort requires semiconductor and supply-constraint terms. All 666 GICS-assigned events occur in 2021. Monthly counts are divided by English World volume for every month in the fixed year, enabling direct comparison throughout 2021. Example usage 3 of 3 ### Example Usage: Commercial-property attention reaches regional banks after office landlords peak during the credit cycle Office Real Estate Investment Trust attention reaches 238 events per million on 23 January 2024. New York Community Bancorp reports a quarterly loss on 31 January. Mortgage Finance then reaches 158 per million on 22 February, while Regional Banks peaks later at 205 per million on 28 March across the same credit cycle. [[ 8 ]](https://ir.flagstar.com/news-and-events/news-releases/press-release-details/2024/NEW-YORK-COMMUNITY-BANCORP-INC.-REPORTS-RECORD-RESULTS-FOR-2023/default.aspx) The sequence exposes transmission across balance sheets. Office landlords carry vacancy and valuation risk. Mortgage lenders and regional banks carry collateral, funding and credit risk. GICS supplies separate equity cohorts and event clocks for testing whether lender attention precedes revisions, deposits, spreads or relative returns. [[ 9 ]](https://www.federalreserve.gov/publications/2023-june-dodd-frank-act-stress-test-results.htm) Office REIT peak +238 per million Regional-bank peak +205 per million Mortgage-finance peak +158 per million Fifty-six-day normalized GICS sub-industry attention · per million Office REITs Regional Banks Mortgage Finance The fixed English cohort covers explicit commercial-property, office-vacancy and commercial-mortgage reporting from October 2022 through June 2024. Each line pools GICS sub-industry counts across the current and prior 55 days, then divides by all English World events in the same window. Data and sources ## Download GICS and References ### Downloads Download categories and counts as CSV, or the complete machine-readable release as JSON. [**CSV** Definitions and counts Download ↓](https://nosible.com/data/world-v1.2/ontologies/gics/v1/nodes.csv) [**JSON** Full machine-readable release Download ↓](https://nosible.com/data/world-v1.2/ontologies/gics/v1/statistics.json) Release details and citation files [Manifest](https://nosible.com/data/world-v1.2/ontologies/gics/v1/manifest.json) [Release README](https://nosible.com/data/world-v1.2/ontologies/gics/v1/README.md) [CC0 license and scope](https://nosible.com/data/world-v1.2/ontologies/gics/v1/LICENSE.md) [Citation file](https://nosible.com/data/world-v1.2/ontologies/gics/v1/CITATION.cff) [Changelog](https://nosible.com/data/world-v1.2/ontologies/gics/v1/CHANGELOG.md) Need the complete World event schema? [Open the World data dictionary.](https://nosible.com/data-dictionaries#world) ### References 1. [ 1 ][MSCI and S&P Dow Jones Indices. (2023). Global Industry Classification Standard (GICS) methodology.](https://www.msci.com/documents/1296102/11185224/GICS%20Methodology%202023.pdf) 2. [ 2 ][Bhojraj, S., Lee, C. M. C., & Oler, D. K. (2003). What's my line? A comparison of industry classification schemes for capital market research. Journal of Accounting Research, 41(5), 745–774.](https://doi.org/10.1046/j.1475-679X.2003.00122.x) 3. [ 3 ][OpenAI. (2022, November 30). Introducing ChatGPT.](https://openai.com/index/chatgpt/) 4. [ 4 ][NVIDIA Corporation. (2024). Form 10-K for the fiscal year ended January 28, 2024.](https://www.sec.gov/Archives/edgar/data/1045810/000104581024000029/nvda-20240128.htm) 5. [ 5 ][U.S. Bureau of Industry and Security. (2023, October 17). Commerce strengthens restrictions on advanced computing semiconductors and semiconductor manufacturing equipment.](https://www.bis.gov/press-release/commerce-strengthens-restrictions-advanced-computing-semiconductors-semiconductor-manufacturing-equipment) 6. [ 6 ][U.S. Department of Commerce. (2022). Semiconductor data confirms urgent need to address the chip shortage.](https://www.commerce.gov/news/press-releases/2022/01/commerce-semiconductor-data-confirms-urgent-need-congress-pass-us) 7. [ 7 ][The White House. (2021). Building resilient supply chains, revitalizing American manufacturing, and fostering broad-based growth: 100-day reviews.](https://www.whitehouse.gov/wp-content/uploads/2021/06/100-day-supply-chain-review-report.pdf) 8. [ 8 ][New York Community Bancorp. (2024). Full-year and fourth-quarter 2023 results.](https://ir.flagstar.com/news-and-events/news-releases/press-release-details/2024/NEW-YORK-COMMUNITY-BANCORP-INC.-REPORTS-RECORD-RESULTS-FOR-2023/default.aspx) 9. [ 9 ][Board of Governors of the Federal Reserve System. (2023). Dodd-Frank Act stress-test results.](https://www.federalreserve.gov/publications/2023-june-dodd-frank-act-stress-test-results.htm) Continue exploring ## Complementary ontologies [39 categories Asset Class Ontology Follow industry-level attention into the asset classes through which markets express the risk. Explore ontology →](https://nosible.com/ontologies/asset-classes) [416 categories NOSIBLE Event Ontology Separate the corporate actions driving an industry's changing event exposure. Explore ontology →](https://nosible.com/ontologies/nosible-events) > Explore 237 GICS categories and example usages tracing AI concentration, semiconductor shortages and commercial-property stress across exposed industries. **URL:** https://nosible.com/ontologies/gics