# @blackrock on YouTube

- **Type:** Video
- **Original URL:** https://youtube.com/watch?v=7U4jGh5NdSM
- **Gondola URL:** https://gondola.cc/posts/56271606-blackrock-youtube
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/2a5a478761.jpg
- **Posted:** 2026-02-13T05:00:00.000+00:00
- **Account Owner:** BlackRock (@BlackRock) — https://gondola.cc/BlackRock

## Caption

Thematic investing is increasingly shaping how investors interpret markets heading into 2026, as artificial intelligence, geopolitical fragmentation, and infrastructure constraints intersect across the global economy.

Jay Jacobs, Head of U.S. Equity ETFs at BlackRock, joins Oscar to discuss why mega forces are becoming harder to ignore—and harder to diversify away from—than in past market cycles. Their conversation explores how AI investing is evolving from a growth narrative into one focused on usage intensity, how national security considerations are reshaping the definition of defense, and why physical infrastructure is emerging as a critical market constraint.

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Key moments in this episode:
00:00 Introduction: The Evolving Landscape of AI and Investment
01:20 Thematic Investing: A New Lens for Market Opportunities
03:06 The Power and Convergence of Mega Forces
05:04 AI's Growing Impact and Token Consumption
07:50 Evaluating the AI Investment Landscape
11:12 Geopolitical Fragmentation and Defense Investments
14:01 The Critical Role of Infrastructure
16:58 Future Outlook: Broadening the AI Story
18:55 Conclusion and Further Listening

Key insights include:
• Why thematic investing is gaining relevance alongside sector and style frameworks
• How AI usage intensity reframes the AI investment conversation
• Where infrastructure and energy constraints may influence adoption timelines
• How geopolitical fragmentation is expanding the definition of defense
• Why overlapping mega forces may shape market outcomes into 2026

#thematicinvesting #aiinvesting #capitalmarket #infrastructure 

Sources: iShares Thematic Outlook, 2026

This content is for informational purposes only and is not an offer or a solicitation. Reliance upon information in this material is at the sole discretion of the listener. Reference to any company or investment strategy mentioned is for illustrative purposes only and not investment advice. For full disclosures, visit blackrock.com/corporate/compliance/bid-disclosures.

## Stats

- **Views:** 901
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## Tags

aiinvesting, infrastructure, thematicinvesting, capitalmarket

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