Market Perspectives
AI and the New Capital Cycle
AI investment is expanding beyond software into chips, data centres, power, networking and industrial infrastructure.
SOVEREIGN AXIS CAPITAL · RESEARCH1 min read
Executive perspective
A considered view of the subject.
AI should be analysed as a capital-cycle theme, not simply a technology-sector trade.
Research focus
Questions that frame the analysis.
Research questions: who captures the economics of rising capex, which inputs are scarce, and how quickly investment converts into cash flow.
Investment perspective
The portfolio lens.
Combine growth exposure with valuation, concentration and capital-intensity discipline.