AI

The Great Convergence—Why Markets, AI, Energy, and Manufacturing Are Now One Trade

The Big Picture The world economy is entering a period where the biggest investment themes are no longer developing in isolation. Artificial intelligence is driving demand for semiconductors. Semiconductors are driving the construction of data centers. Data centers require enormous amounts of electricity. More electricity demand requires investment in power generation, transmission networks, transformers, batteries,…

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AI

The $700B AI Capex Boom: Who Actually Makes Money?

One important framing point: the “$700B” figure is best treated as the 2026 capital-spending commitment of the four largest U.S. hyperscalers—Amazon, Microsoft, Alphabet, and Meta—not as a pure AI-only capex number. Much of that spending is AI-related, but it also includes broader cloud, networking, servers, data centers, and other infrastructure. Using their latest disclosed 2026…

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AI

Amazon’s $35 Billion Bet on India: AI, Exports and 3.8 Million Jobs by 2030

Amazon has announced plans to invest an additional $35 billion in India by 2030, strengthening its presence in one of its most promising global markets. The new investment will build on the company’s earlier $40 billion commitment made over the past decade, reflecting Amazon’s confidence in India’s digital growth story. According to Amit Agarwal, SVP of Emerging Markets at…

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