Bank of America estimates the AI data-center systems market could reach $1.7 trillion by 2030, implying a 45% compound annual growth rate. The bank also projects data-center capacity will double to 200 gigawatts by 2030, supported by roughly $7 trillion in capital investment.
However, the source text notes that power, labor, and supply chains may determine the speed of the buildout. U.S. data-center demand could leave utilities facing a more than 100-gigawatt generation shortfall through 2030.
First Trust Nasdaq Clean Edge Smart Grid Infrastructure ETF (GRID) is highlighted as a vehicle for exposure to the second-order AI trade. The fund gained more than 19% year to date, outperforming its infrastructure category’s 14.85% return. Quanta Services (PWR) accounts for 8.68% of the fund, while Eaton (ETN) represents 8.45%. Johnson Controls International PLC (JCI), ABB (ABBNY), and Schneider Electric are also among its largest holdings.
For broader exposure, the Global X U.S. Infrastructure Development ETF (PAVE) holds 100 companies across infrastructure-related industries. Eaton and PWR are among its top ten largest holdings. The $13.76-billion fund has gained 2.23% over the past five days.
The iShares U.S. Infrastructure ETF (IFRA) provides another route, combining infrastructure enablers with asset owners. Caterpillar Inc (CAT) is its largest holding at 4.31%, followed by PWR at 4.03%. Caterpillar reported a 24% jump in second-quarter revenue to $20.5 billion, with Power & Energy sales rising 17%. The company specifically cited higher sales of power-generation equipment in data-center applications.
