You could be fooled into thinking that the AI boom is all about NVIDIA, OpenAI, Anthropic and the hyperscalers. Fortunately for investors, AI is about a lot more. One area AI is stimulating is power, and the hard assets of essential infrastructure – assets which Goldman Sachs refers to as HALO (Heavy Assets, Low Obsolescence)¹. HALO assets in infrastructure are staring into the biggest step change in energy demand ever seen, offering compelling opportunities for investors.