Artificial intelligence may be dominating conversations around technology stocks, but the bigger wealth-creation opportunity could lie in the physical infrastructure powering the AI revolution.
As India gears up for a massive expansion in data-centre capacity, an estimated $25 billion in investments committed through 2030 could open up significant opportunities across power equipment, electricals, cooling infrastructure, electronics manufacturing services (EMS) and other allied sectors.
Atul Suri, CEO & CIO of Marathon Trends, believes India is still at the early stages of this capex cycle. With nearly 75% of data-centre spending flowing into power, electricals and cooling, these segments could emerge as some of the biggest beneficiaries of the AI infrastructure build-out.
In an interview with Kshitij Anand of ETMarkets, Suri explains why the current AI rally is increasingly a "picks-and-shovels" story rather than a conventional technology rally, why equipment makers could outperform EPC companies, and how his "buy strength, sell weakness" philosophy is helping navigate this structural market shift.
