BlackRock: AI Value Shifting Toward Physical Infrastructure, Highlights MU VRT CEG ? • BlackRock says cheaper AI models could accelerate adoption while commoditizing the model market. • Firm sees value shifting toward computing power, data centers and electricity, calling the trend “physical AI.” • BlackRock is focusing on AI bottlenecks across power, chips and data centers, with demand also broadening to power electronics, batteries, motors and actuators. 29-SEP-2026 05:33 AM ET