Hello, Reader.
“I think this is like more than 10x, probably 50x bigger than dot-com,” SoftBank Corp. (SFTBY) CEO Masayoshi Son told CNBC on Monday.
The “this,” of course, is the AI revolution.
And while this 50-to-1 impact remains to be seen, Son’s argument is supported by one simple reality: AI adoption is happening at an extraordinary pace.
A December 2025 study from researchers at the Computer & Communications Industry Association (CCIA), for instance, found that generative AI is now the fastest-adopted technology in U.S. history.
Workplace AI adoption reached 40% of U.S. workers within roughly two years of ChatGPT’s launch.
Comparatively, U.S. internet usage rose from roughly 14% of adults in 1995 to about 41% by 2000. A five-year growth story, not two.
AI appears to be achieving in a few years what took the internet much longer to accomplish. And some of the world’s largest investors are putting billions of dollars on that belief that this is only the beginning.
SoftBank itself is backing the conviction with enormous capital commitments in AI infrastructure.
To understand why Son is so confident in AI’s future, it’s worth taking a closer look at where SoftBank is actually putting its money – and what those investments reveal about the real winners of the AI boom.
After all, if AI delivers even a fraction of the impact Son predicts, the greatest opportunities will not be in the technology itself, but the infrastructure required to power it.
Let’s jump in…
Why Japan’s Most Valuable Company Is Going All-In on France
SoftBank announced on Sunday that it will invest 45 billion euros ($53 billion) over the next five years to build AI infrastructure… in France!
Oh là là! This new investment – SoftBank’s largest-ever in Europe – is part of a 75-billion-euro ($87 billion) program to produce 5 gigawatts (GW) of AI data center capacity in France, with plans to build 3.1-GW AI data centers in Dunkirk, Bosquel, and Bouchain by 2031.
During a press briefing on Monday about the 75-billion-euro investment, Son indicated that the all-in investment might hit a whopping $750 billion when all systems are taken into account.
These are serious commitments for SoftBank, especially when added to the list of the company’s other investments:
- Along with Oracle, it has invested $500 billion in the Stargate project,
- Made a $40 billion commitment to OpenAI,
- And is building a 10-GW data center and additional power plants in Ohio.
Son mentioned that the company will mainly use project financing instead of its own funds for the investment, citing the data center project in Ohio that will soon finalize long-term agreements with customers.
He even suggests help from hyperscalers, saying, “Our own money that we need is very, very condensed, so I’m confident that we’re going to get big purchase orders from our customers that we already have relationships [with], so we can extend that momentum into France.”
The bottom line is that investments in AI development are growing in significance and scale.
And Softbank isn’t the only major company spending major coin.
Last year alone, Amazon.com Inc. (AMZN), Microsoft Corp. (MSFT), Meta Platforms Inc. (META), and Alphabet Inc. (GOOGL) collectively poured nearly $300 billion into capital expenditures (CapEx), mainly focused on AI and data center demand. That figure will more than double this year to an eye-watering $635 billion.
Given the size of these investments, the speed at which they’re happening, and AI’s remarkable progress, the value the AI boom has created is surpassing that seen during the dot-com era.
That means profit potential is higher, and anything involved in building the AI infrastructure will be in even greater demand.
The companies supplying the “picks and shovels” of the AI economy will continue to see subsequent growth: utilities, power equipment manufacturers, construction firms, data-center operators, semiconductor companies, and networking providers.
Luckily, there is no shortage of these beneficiaries to choose from. But selectivity is still incredibly important. Here’s why…
The Real Winners of the AI Gold Rush
Rising AI demand does not lift all infrastructure boats equally.
Take it from another CEO, Nvidia Corp.’s (NVDA) Jensen Huang.
Just yesterday, he and Marvell Technology Inc. (MRVL) CEO Matthew Murphy discussed the importance of optical links and the growing role of AI infrastructure. Huang emphasized that while copper remains essential to powering AI systems, the industry is beginning to run into the physical limits of traditional electrical wiring.
As a result, the industry is transitioning toward optical systems to keep up.
This conversation sent Marvell’s stock up 24% and leading fiber-optic company Corning Inc. (GLW) up nearly 13% – highlighting how quickly money is moving into this shift in AI infrastructure.
I’ve been trying to equip my readers for moments exactly like this, which is why I recommended by Corning shares well before the recent fanfare arrived. That recommendation has gained nearly 400%, and is still advancing because of the long-term demand trends Huang mentioned on Monday.
But Corning is not the only AI beneficiary that is gaining momentum. I’ve put together to share the specific AI plays I believe will make investors maximum profits during the next phase of the AI boom.
During the video, I explain the serious potential of lesser-known – and sometimes highly misunderstood – picks-and-shovels plays… which sectors of the market I believe will see huge surges due to AI… and .
Regards,
Eric Fry
