瑞银：AI潜力越发取决于电力和资源执行能力

Core Insights - The potential of AI increasingly depends on the execution capabilities in the electricity and resources sectors, creating attractive opportunities for global investors [1] - Increased capital expenditure in AI is expected to benefit the entire value chain, from electrical equipment and grid infrastructure to energy storage and renewable energy [1] - By 2030, annual investments in power generation, energy storage, grid, data centers, and electric transportation and industrial sectors are projected to reach $3 trillion, prompting investors to consider diversified and flexible allocations within this value chain [1] Investment Landscape - The U.S. AI strategy requires significant energy investments, with domestic resources only meeting 25% of energy storage needs, which will catalyze a wave of investment and innovation in U.S. energy infrastructure [1] - China's new energy structure emphasizes both environmental sustainability and strategic significance, aiming to reduce dependence on imported fossil fuels while supporting domestic technology sectors [1] - This approach may create cost advantages for Chinese tech companies, allowing local AI chip manufacturers to compete effectively [1] Investment Strategy - Investors should not view the electricity and resources sectors as mere alternatives for AI investments, as the correlation between AI and these sectors is relatively low, potentially making them valuable tools for portfolio diversification [1]