From Otavio Costa:
Costa says:
On one side are the entities compelled to spend on a scale rarely seen outside of wartime. On the other are the industries positioned to earn from that tidal wave of investment. Artificial intelligence has sparked a global technological arms race. Unlike past innovations such as railroads or the internet, where adoption unfolded gradually, AI is driving governments and corporations into an urgent competition to secure infrastructure and capacity first. Compounding this urgency is the parallel push toward onshoring — a reversal of globalization that demands rapid domestic buildouts of factories, datacenters, and supply chains. Together, these forces point toward what could become one of the most extreme construction booms in modern economic history. This is not a conventional investment cycle. It marks the onset of a new economic order, one driven by necessity rather than choice. In our view, the spenders will fund the transformation, and the earners will likely compound the returns.
