Overview
- Ben Powell of BlackRock told CNBC the AI infrastructure investment wave shows no sign of peaking, calling it a continuing capex deluge.
- BlackRock is prioritizing hardware, energy producers and materials makers such as copper-wire suppliers as the clearest beneficiaries of the buildout.
- Powell said hyperscalers have only begun tapping credit markets, signaling more borrowing that could extend the spending cycle.
- S&P Global estimates data-center electricity demand could nearly double by 2030, with grid operators working to accommodate new facilities.
- Context for investors includes Nvidia briefly topping a $5 trillion market cap, heavy annual AI budgets at Amazon and Meta, and Reuters reporting that OpenAI is preparing for a potential IPO.