By Gustavo Medeiros, Ben Underhill
The Emerging View

The AI Supercycle and Bottlenecks: A Multi-year Tailwind for EM

As AI compute demand scales, the worry has shifted from overbuilding to scarcity. Can energy and chip supply keep pace, or will bottlenecks throttle the capex cycle? We map the constraints and their implications for emerging markets.

Subscribe to our insights

Subscribe and get notified as soon as we publish our content

The latest insights from our categories

Video

WEBINAR: Emerging Markets: beyond the AI trade

Watch the replay: Gustavo Medeiros (Global Head of Research) and Dhiren Shah (Head of Emerging Markets Equity Strategy) discuss their views on EM opportunities, whether the AI trade has room to run and what it could mean for countries, sectors and stocks.
Weekly investor research

The right edges ahead in the Colombian presidential race

A rightward tide is reshaping Latin American politics: De La Espriella tops Colombia's first round, Fujimori leads Peru's runoff polls, and Caputo predicts a comfortable Milei re-election in Argentina.
Weekly investor research

Deal or no deal?

The US strikes Iranian military assets after Trump signals a deal is close. Aramco preps its largest privatisation to date, South Korea seeds a sovereign wealth fund with semiconductor tax revenue, and UAE investment in the US tops USD 1trn.

Latest Insights

Ashmore video
Video

'EM in 10' update - July 2023

Gustavo Medeiros, Ashmore’s Head of Research, answers some timely questions with his views about recent events and performance in Emerging Markets for our 'EM in 10' monthly video review.
India takes centre stage
The Emerging View

India takes centre stage

India has a compelling investment case. Over the last ten years, the MSCI India index has delivered over 135% returns in USD. Over the last three to five years, the same index has delivered 69% and 56% returns respectively, outperforming the MSCI...
Shaking hands
Weekly investor research

Switching the focus: diverging policy, with one eye on diplomacy

The US Federal Reserve (Fed) pauses but remains hawkish, and the European Central Bank (ECB) hikes 0.25% and signals more hikes. Conversely in Asia, the Bank of Japan (BOJ) remains dovish despite elevated core consumer price index (CPI) inflation, and...
Economy and growth jigsaw on Indian flag
Video

India takes centre stage

Rashi Talwar Bhatia, Portfolio Manager for India Equity, and Gustavo Medeiros, Ashmore’s Global Head of Research discuss the opportunities present in the India Equity universe and their outlook for the second half of 2023 and beyond. 
Irish dancing
Weekly investor research

Dancing to the Fed’s rate hike ‘skip’

The benign macroeconomic backdrop and the US Federal Reserve (Fed) inclination to ‘skip’ this month’s rate hike are music to investors’ ears. Flows into credit products and Emerging Markets (EM) bond issuance have benefitted from improved sentiment.
Turkish flag flying in the sky
Weekly investor research

A welcome lull in policy uncertainty

In Türkiye, President Erdogan throws an olive branch to the market by appointing an old friend. OPEC+ oil production cuts cause barely a ripple on Brent crude prices, as global inflationary pressures show signs of abating. In the United States (US)...
Semiconductor manufacturing with 3d rendering robotic arms with silicon wafers
Live at the Sub-ICs

The semiconductor cycle is dead, long live the super cycle!

The health of developed market (DM) economies is in doubt with bank profitability stresses highlighting the impact of tight financial conditions on the real economy. This is prompting some to question whether enough downside risk is priced in DM equity...
Small (EM) is beautiful
Video

Small (EM) is beautiful

Patrick Cadell, Portfolio Manager for Emerging Markets Small Cap Equity and Gustavo Medeiros, Ashmore’s Head of Research discuss the opportunities present in the Emerging Market Small Cap Equity universe and the outlook for the second half of 2023 and...
Election voting card
Weekly investor research

EM elections: good result in Thailand, poor results in Türkiye

It was a good outcome in the Thai presidential elections in terms of fostering liberal economic reforms. In Türkiye, Erdogan won most votes but fell short of the 50% mark, leading to a 28 May run-off. Argentina’s inflation rose further. In Colombia, ...