BlackRock Investment Institute says the AI buildout is evolving into a “supercharged mega force,” with stronger revenues and rising capex reinforcing a pro-risk stance on equities.
- Consensus estimates for hyperscaler capex from 2026–2030 have risen by more than 25% since October, with some years up over 30%.
- BlackRock remains overweight U.S. and EM equities, citing AI earnings momentum and infrastructure demand.
- They see opportunities in semiconductors, power generation, and data-center assets, regardless of which AI platforms ultimately win.
- U.S. energy advantages and capital-market depth are viewed as strategic edges over Europe.
Is AI enthusiasm overdone—or still underestimating the scale of the buildout? BlackRock clearly leans toward the latter.
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