The AI boom presents opportunities for infrastructure providers. The 'Enablers' category outperformed the MSCI World Index by 50% in the last three years, highlighting durable returns. US-based AI enablers secured 65% of venture capital in seed to late-stage rounds during H1 2026. Key metrics show progress: Large Language Models improved from 10% to 50% on Humanity's Last Exam, and token usage rose tenfold between January 2025 and April 2026.

Despite optimism, significant constraints exist. Projected grid access shortfalls pose a major risk; US data center developers face a 40-gigawatt deficit by 2028, with delivery lead times exceeding two years. Political resistance to data center expansion adds complexity. Energy demand is shifting from batch processing to real-time inference, creating volatility challenges.