Below, please find October’s edition of On the Markets – Graystone Consulting’s monthly publication summarizing the Global Investment Committee’s market outlook.
The October issue includes:
It is now a strategic imperative for governments to gain control over critical AI infrastructure, data and supply chains, notes MS & Co.’s head of US public policy strategy Ariana Salvatore. The quest for AI sovereignty will likely increase the AI-capex opportunity—and raise the risk of broader technology restrictions.
While the volatility in oil prices may dominate headlines, it is hardly the only story in the energy sector. In our Q&A, we discuss the wider outlook for energy—from oil and diesel to natural gas and electricity.
We feature commentary on China’s next industrial revolution, how hyperscalers are funding the AI build-out and how the decline in US stock market breadth may resolve.
Also included is a special report outlining our forecast for the next phase of the AI build-out. Data centers have become a critical convergence point for energy suppliers, semiconductor manufacturers, cloud providers, and software developers. Graystone’s report highlights several issues that may shape the next phase of the AI investment cycle, including:
- The vast scale of AI data-center capital expenditures and the growing role of external financing
- Power availability and regulatory scrutiny as potential risks
- The impact of open-weight models on pricing
- The sensitivity of returns on invested capital to token pricing
