AGF says industrials gain from AI data center buildout as power demand accelerates
XLI•AGF highlights data-center-driven demand for industrials
AGF Management published an Aug. 27, 2026 note on AI-driven demand for industrials tied to data-center buildouts.
Power demand in developed economies is rising sharply; data centers used about 415 terawatt-hours in 2024, about 1.5% of global electricity.
Data-center electricity use is projected to double by 2030, pressuring aging grids with long approval and construction timelines.
Annual global data-center spending now exceeds USD 1 trillion; cumulative investment is projected to reach USD 7 trillion by 2030.
Stock valuations already price in optimism; upside may hinge on converting order backlogs into cash flow and earnings, not just meeting forecasts.
