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The Global AI Buildout Accelerates as Tech Titans Drive Record Investment

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The global race to build artificial intelligence infrastructure shows no sign of slowing, as technology giants and industrial firms alike pour trillions into data centers, chips, and computing power. Nvidia’s market value soared past $5 trillion this week — a milestone that underscores how central AI has become to the global economy.

In a whirlwind week for the tech sector, Microsoft and OpenAI struck a landmark deal expanding the ChatGPT maker’s fundraising capacity, while Amazon announced 14,000 corporate job cuts just days before its cloud division reported its fastest growth in nearly three years. Together, these developments highlight AI as the defining engine of modern corporate spending and stock market momentum.

AI’s impact now extends beyond Silicon Valley. Over 100 non-tech companies — from Honeywell and GE Vernova to Caterpillar — referenced data centers in their earnings calls, signaling how deeply AI demand is reshaping industrial supply chains. Caterpillar’s data center equipment sales jumped 31% last quarter, reflecting the sector’s explosive growth.

Goldman Sachs projects global AI-related infrastructure spending could reach up to $4 trillion by 2030. Microsoft, Amazon, Meta, and Alphabet are expected to collectively invest around $350 billion this year alone. Meanwhile, AI investment is fueling international trade, with the U.S. importing vast quantities of semiconductors from Taiwan, South Korea, and Vietnam.

Despite talk of an AI “bubble,” companies continue to ramp up spending. Apple plans to significantly boost AI investments, and Amazon is projecting capital expenditures of $125 billion in 2025. Economists say this phase of the AI revolution remains in its early stages — with innovation advancing faster than any technology cycle in recent history.

Western Digital and Seagate Surge as AI Infrastructure Demand Fuels Record Gains

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Shares of data storage leaders Western Digital and Seagate have skyrocketed this year, outpacing the broader market as global demand for AI-driven infrastructure fuels unprecedented growth in hard drive sales. Both companies’ stocks have surged over 200% in 2025, reaching record highs amid a worldwide scramble to expand data storage capacity for artificial intelligence applications.

Western Digital shares rose more than 11% on Friday after the company forecast second-quarter earnings above Wall Street estimates. Analysts at J.P. Morgan noted that Western Digital has secured purchase orders from five of its largest customers through 2026, signaling strong confidence in sustained AI-related demand.

Seagate, a close rival, also projected revenue and profit above expectations earlier this week, pushing its stock up more than 22%. Both companies are now among the top three performers in the S&P 500 this year, trailing only Robinhood.

Smaller competitor Sandisk, spun off from Western Digital in February, has seen its shares soar fivefold since its debut and was up another 3.6% on Friday ahead of its upcoming earnings report.

The S&P 1500 tech hardware, storage, and peripherals sector—which includes all three companies—has climbed more than 12% this year, hitting an all-time high. As major tech firms like Alphabet, Microsoft, Meta, and Amazon ramp up capital spending on chips and data centers, analysts expect global AI infrastructure investments to reach up to $4 trillion by 2030.

T. Rowe Price Enters Crypto Market with First Multi-Coin ETF Filing

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T. Rowe Price has filed with the U.S. Securities and Exchange Commission (SEC) to launch its first cryptocurrency exchange-traded fund (ETF), marking the $1.77 trillion asset manager’s long-awaited entry into digital assets.

The actively managed ETF would offer exposure to five to fifteen cryptocurrencies, including bitcoin, ether, solana, dogecoin, and Shiba Inu, according to the filing. Portfolio managers would aim to outperform the FTSE Crypto US Listed Index, using a mix of fundamental, valuation, and momentum-based analysis to decide which assets to hold and how to weight them.

“This is a surprise move for such a late entrant,” said Bryan Armour, ETF analyst at Morningstar. “But T. Rowe Price appears to be targeting something differentiated to stand out in a crowded space.”

While dozens of asset managers have raced to launch single-coin ETFs, multi-asset crypto funds remain rare due to regulatory complexity and the volatility of altcoins. If approved, the T. Rowe Price fund would be among the first diversified crypto ETFs in the U.S.

The filing underscores T. Rowe’s efforts to diversify beyond traditional mutual funds, which have suffered persistent outflows. The firm has introduced 24 ETFs in recent years and recently partnered with Goldman Sachs to develop new private market products for retail investors. As part of the deal, Goldman plans to buy up to 3.5% of T. Rowe’s shares, an investment that could exceed $1 billion.

T. Rowe has been quietly building its digital asset expertise, hiring Blue Macellari, a former crypto hedge fund executive, as head of digital assets strategy in 2022.

ETF industry experts said the launch reflects a broader institutional shift. “It’s exciting to see T. Rowe expand beyond equities and bonds,” said Todd Rosenbluth of VettaFi.

However, the timing remains uncertain. The SEC faces a government shutdown that has slowed approvals, despite new listing standards paving the way for multi-coin ETFs.

If approved, the T. Rowe Price crypto ETF could signal a new era of mainstream digital asset investing from one of America’s most established financial firms.