Big Tech may be able to buy compute, but it cannot buy grid capacity on the same timeline Large technology companies are set to spend more than $700 billion on artificial intelligence (AI)-related capital expenditures in 2026, fueling a rapid expansion of data center infrastructure. That level of spending can secure chips, servers and data-center capacity. It cannot as easily compress the timelines required to generate, transmit and deliver electricity. The recent announcement of the first...

What the start of this decade has made increasingly clear is that today’s global security environment has become more uncertain, and we are living in a more dangerous world than before. Conflicts in Ukraine and Iran, along with broader geopolitical instability, are reinforcing the need for sustained investment in national defence. We believe this represents a shift from episodic spending cycles toward a more durable, multi-year rearmament phase. The question is no longer whether defence...

If you had the potential opportunity to increase returns while reducing risk, wouldn’t you take it? For investors seeking a steady, income-generating investment that has historically shown far less volatility than other fixed income alternatives, bank loans—also known as leveraged, floating rate and broadly syndicated loans—might be the solution. The asset class has been a dependable source of income and return for investors for decades, delivering attractive performance across a variety of...