AI Boom: Power, Metals to Outshine IT, Says Manulife's Rana Gupta

• Manulife's Rana Gupta suggests AI boom benefits physical infrastructure (power, metals) more than IT services.
• Global tech firms' massive AI investments flow into electricity, equipment, and materials before software.
• Hyperscaler expansion drives demand for switchgear, generators, cables, and cooling systems for data centers.
• India, with its electrical equipment and engineering supply chains, can capitalize on data center construction.
• Gupta sees a revival in private-sector investment, particularly in SME credit, data centers, real estate, and metals.