AI’s Economic Backbone: A Modern Parallel to the Railroad Boom

Allianz Global Investors /

08-08-2025

Allianz Global Investors examines how artificial intelligence is emerging as a foundational force in the global economy, drawing comparisons to the transformative impact of 19th-century railroads.

U.S. tech giants are set to invest over $300 billion in AI infrastructure in 2025 alone—surpassing long-term European commitments and signaling an accelerating shift.
Demand for computing power is driving capital into semiconductors, data centers, and energy infrastructure, with nuclear and renewables gaining traction.
AI is enabling structural changes across non-tech sectors, from industrial automation to healthcare and logistics, creating long-horizon opportunities for thematic investors.

Which industries will define the next phase of AI-led economic growth? Discover the full report for a deeper thematic outlook.

Artificial intelligence

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