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While there are many exchange-traded funds in the marketplace offering exposure to the theme of artificial intelligence, there is a rising need for a product that provides exposure to what Goldman Sachs labels “the next phase” of the artificial intelligence investment, AI infrastructure.1 Indeed, a new investment category has emerged at the crossroads of artificial intelligence and infrastructure, and it is attracting billions of dollars of investment capital. Some of the world’s largest investors are racing to fund the physical infrastructure required to power AI computations, from processors to data centers to power plants.2
While some of the early investment beneficiaries of generative AI adoption were software applications and semiconductor chip makers such as Nvidia, Goldman Sachs research predicts the next phase of the AI trade will be in AI Infrastructure. Goldman anticipates companies that stand to benefit from the buildout of AI-related infrastructure will include semiconductor designers and manufacturers, cloud providers, computer and network equipment makers, data center real estate investment trusts, utilities, and security software providers.3
Amid the boom in AI, computing power has emerged as one of the decade’s most critical resources, as servers run 24/7 around the globe processing the
models and applications underpinning AI. The energy, resources, and capital required to support the AI revolution are enormous. A report from private policy think tank RAND projects the world could need 68GW of extra energy capacity by 2027 to deal with AI growth, and 327GW by 2030.4 McKinsey & Company estimates that by 2030, data centers will demand nearly $7 trillion globally in electricity to meet the need for computing power.5
1 Goldman Sachs, AI infrastructure stocks are poised to be the next phase of investment, April 16, 2024.
2 Giacobone, Bianca. The rise of the AI infrastructure asset class, Latitude Media, December 10, 2024.
3 Goldman Sachs, AI infrastructure stocks are poised to be the next phase of investment, April 16, 2024.
4 Pilz, Konstantin, Yusuf Mahmood, Lennart Heim. AI’s Power Requirements Under Exponential Growth, RAND.org, January 28, 2025. https://www.rand.org/pubs/research_reports/RRA3572-1.html
5 Noffsinger, Jesse, Mark Patel, Pankaj Sachdeva, et al. The cost of compute : A $7 trillion race to scale data centers, April 28, 2025.
While there are many exchange-traded funds in the marketplace offering exposure to the theme of artificial intelligence, there is a rising need for a product that provides exposure to what Goldman Sachs labels “the next phase” of the artificial intelligence investment, AI infrastructure.1 Indeed, a new investment category has emerged at the crossroads of artificial intelligence and infrastructure, and it is attracting billions of dollars of investment capital. Some of the world’s largest investors are racing to fund the physical infrastructure required to power AI computations, from processors to data centers to power plants.2
While some of the early investment beneficiaries of generative AI adoption were software applications and semiconductor chip makers such as Nvidia, Goldman Sachs research predicts the next phase of the AI trade will be in AI Infrastructure. Goldman anticipates companies that stand to benefit from the buildout of AI-related infrastructure will include semiconductor designers and manufacturers, cloud providers, computer and network equipment makers, data center real estate investment trusts, utilities, and security software providers.3
Amid the boom in AI, computing power has emerged as one of the decade’s most critical resources, as servers run 24/7 around the globe processing the
models and applications underpinning AI. The energy, resources, and capital required to support the AI revolution are enormous. A report from private policy think tank RAND projects the world could need 68GW of extra energy capacity by 2027 to deal with AI growth, and 327GW by 2030.4 McKinsey & Company estimates that by 2030, data centers will demand nearly $7 trillion globally in electricity to meet the need for computing power.5
1 Goldman Sachs, AI infrastructure stocks are poised to be the next phase of investment, April 16, 2024.
2 Giacobone, Bianca. The rise of the AI infrastructure asset class, Latitude Media, December 10, 2024.
3 Goldman Sachs, AI infrastructure stocks are poised to be the next phase of investment, April 16, 2024.
4 Pilz, Konstantin, Yusuf Mahmood, Lennart Heim. AI’s Power Requirements Under Exponential Growth, RAND.org, January 28, 2025. https://www.rand.org/pubs/research_reports/RRA3572-1.html
5 Noffsinger, Jesse, Mark Patel, Pankaj Sachdeva, et al. The cost of compute : A $7 trillion race to scale data centers, April 28, 2025.
