Over our last two AI-related newsletters, we explored the emergence of agentic AI as a new strategic force reshaping the tangible economy – from autonomous operations in energy, logistics, and manufacturing, to the infrastructure and power required to support it. But as with every disruptive technology cycle, a wave of breathless claims and speculative fervor has emerged. The challenge for investors and operators today: separating the signal from the noise.

In a previous newsletter, we explored how agentic AI – a class of autonomous, decision-making systems – is establishing itself as a transformational force across many economic sectors. But as investors seek to position themselves on this tech wave, the question of the physical infrastructure needed to support these agents also comes into focus, as well as the energy and resource implications of scaling this autonomy across economies globally.