AI’s Economic Backbone: A Modern Parallel to the Railroad Boom

Allianz Global Investors examines how artificial intelligence is emerging as a foundational force in the global economy, drawing comparisons to the transformative impact of 19th-century railroads.

• U.S. tech giants are set to invest over $300 billion in AI infrastructure in 2025 alone—surpassing long-term European commitments and signaling an accelerating shift.

• Demand for computing power is driving capital into semiconductors, data centers, and energy infrastructure, with nuclear and renewables gaining traction.

• AI is enabling structural changes across non-tech sectors, from industrial automation to healthcare and logistics, creating long-horizon opportunities for thematic investors.

Which industries will define the next phase of AI-led economic growth? Discover the full report for a deeper thematic outlook.