You’ve seen the headlines:
Amazon. Microsoft. Meta.
Laying off thousands… while pouring billions into AI.
But here’s the truth:
AI doesn’t run on magic.
It runs on data centers — and the demand is exploding.
Every ChatGPT prompt. Every Alexa command.
Every “cloud-based” tool you use…
It all flows through physical infrastructure that someone has to build.
Even “the cloud” is really just a network of data centers.
Data centers are becoming the modern-day railroads.
That doesn't make every data center a good investment. Demand can shift, projects can run over budget, and private infrastructure investments are usually illiquid for years and can lose money.
But it's a good example of a bigger point: the companies in the headlines aren't the only way an economic shift shows up in a portfolio. If you're curious how infrastructure fits into a broader plan, and whether it fits yours at all, that's a good question to bring to a Curiosity Call.
About the author
Founder of Jones Fiduciary Wealth Management. He spent nearly two decades on the legacy side of the industry before building a fiduciary advisory firm where the tax strategy comes first and the portfolio follows. Author of UnBrainwashed Investing.
