This weekly research digest highlights new additions to the European Conviction List and analyzes the broad impact of AI-related capex on infrastructure, power, and logistics.
Key Takeaways
- 1.The Conviction List added TGS (oil capex beneficiary) and Halma (high-quality growth compounder).
- 2.AI-driven capex remains a dominant investment theme, with infrastructure bottlenecks creating opportunities in power, electrification, and marine logistics.
- 3.Talent availability is a critical differentiator for AI outcomes, with Europe facing structural disadvantages compared to the US.
Table of Contents
- Conviction List
- Capex and ways to play it from the CL
- AI drivers – talent is key
- Europe and the China Dragon
- GS Research from the week
- Conviction List
- Previews
- Commodities & Industrials
- AI, Data Centres and CAPEX
- Capital Markets Activity
- Ratings Changes & Initiations
- Tracking the data
- Sector Updates
- Conferences & Management Takeaways
- Reiterate Buy
- Earnings & CMDs
- Other Macro
- Other Global
- Disclosure Appendix
Document Preview
Access the Full Report
Get unlimited access to institutional research reports with a 14-day free trial.
Authors
Sahar Islam
Securities
TGSHLMA.LSchneider ElectricMAERSKb.CO
Themes
AI Infrastructure and CapexChina CompetitionEnergy Transition
Regions
EuropeAsia PacificUnited StatesChinaGermany