Market Chatter: BlackRock Strategist Says AI Infrastructure Spending Is Still Accelerating

MT Newswires Live12-08 19:21

BlackRock (BLK) expects investment in AI infrastructure to keep rising rather than plateauing, CNBC reported Monday, citing an interview with Chief Investment Strategist Ben Powell.

The clearest beneficiaries are the "picks and shovels" of the cycle, including chipmakers, energy suppliers, and materials manufacturers, the news outlet quoted Powell as saying.

The race by hyperscalers to lock in semiconductors and electricity is fueling global capex and new borrowing, even with the possible risk of overspending, the news outlet reported.

Data center power demand is expected to nearly double by 2030 as new facilities come online, and grids strain to meet the rising power demands in the US and the Middle East, CNBC reported.

Powell also reportedly added that leading tech companies have only begun to tap credit markets for the next push of AI expansion, the media outlet reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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