{"id":242791,"date":"2026-05-14T12:15:00","date_gmt":"2026-05-14T16:15:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=242791"},"modified":"2026-05-15T04:35:22","modified_gmt":"2026-05-15T08:35:22","slug":"halo-effect","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/futures\/halo-effect\/","title":{"rendered":"HALO effect"},"content":{"rendered":"\n

\u201cAll revolutions need infrastructure\u201d<\/strong> was one powerful message your author heard at a conference<\/a> he attended earlier this week. \u201cIt\u2019s like a dog chasing its tail,\u201d said another presenter, in response to how suppliers to the data centre gold rush are having to adapt. If AI is going to remain in the vanguard, then there will be a clear halo effect for the metaphorical shovel makers. Some prefer to use the acronym<\/a> HALO, to capture the idea that certain operators in heavy-asset, low-obsolescence industries may also prevail as winners<\/strong>.<\/p>\n\n\n\n

Around $700bn<\/strong> is the figure that the top US hyperscalers (Alphabet, Amazon, Meta, Microsoft and Oracle) have said they will spend on AI infrastructure in 2026. Most analysts reckon that roughly half this figure comprises expenditure on GPU and CPU chips. The remainder needs to go on land (to house the data centres), power, infrastructure, cooling equipment <\/strong>and so on. That\u2019s a lot of heavy assets, with low obsolescence.<\/p>\n\n\n\n

A 1GW data centre may require around 100,000 tonnes of steel<\/strong>. For context, London\u2019s Wembley Stadium contains about 23,000 tonnes and the Shard, its tallest building, some 12,000 tonnes. So that\u2019s a lot of metal. Another presenter shared an equally \u201cstaggering\u201d (his words) statistic: a new planned data centre in Utah will consume 9GW of power capacity daily<\/strong>. Utah State currently consumes 4GWh of power every 24 hours while London gets through 7GWh on a busy day. The entire Utah project will span a proposed 60 square miles.<\/p>\n\n\n\n

The consistent message across presenters was that there is a structural imbalance between demand and supply<\/strong>. This explains why some new companies are having to wait up to ten years for grid connections<\/strong>. It also provides an explanation for why around half of all US data centre projects are currently being delayed or deferred<\/strong>. A more optimistic view from one participant suggested that \u201cwe are on the cusp of an investment super-cycle<\/strong>.\u201d It seems clear that critical infrastructure providers will probably continue wearing their halos for some time.   <\/p>\n\n\n\n

—<\/p>\n\n\n\n

Originally Posted on May 14, 2026 – HALO effect<\/a><\/p>\n\n\n\n

The above is provided for information purposes only and does not constitute investment advice or a recommendation to buy or sell any security. Any forward looking statements are based on assumptions that may change. The views expressed are solely those of the author at the time of writing. This article should not be relied upon for investment decisions. Past performance does not predict future returns, the value of investments and income from them can fall as well as rise.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cAll revolutions need infrastructure\u201d\u00a0was one\u00a0powerful message your author heard at a\u00a0conference\u00a0he attended earlier this week. <\/p>\n","protected":false},"author":597,"featured_media":229112,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[17,6,8,9,26,3],"tags":[],"contributors-categories":[13720],"class_list":{"0":"post-242791","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-futures","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-text-articles","12":"category-traders-insight","13":"contributors-categories-heptagon-capital"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"\nHALO effect | Traders' Insight<\/title>\n<meta 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