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

Weekly investor research
Weekly investor research

Another VIX shock suggests opportunities in EM equities

Last week the Chicago Board Options Exchange Volatility Index, or VIX as it is more commonly known, spiked by 59% to 33.1, impacting asset prices which, in our opinion, make EM equities and EM local bonds look attractive.
EM and the big Biden growth rotation
Market Commentary

EM and the big Biden growth rotation

In addition to bridging deep social divisions in American society, President Joe Biden faces two important policy challenges. One is to eradicate coronavirus. The other is to turn the economy and voter sentiment.