Nuveen LLC’s private bond chief, Laura Parrott, says the biggest investment opportunity linked to artificial intelligence lies not only in headline technologies like data centers and computing chips, but also in the supporting “picks and shovels” infrastructure that benefits even if specific AI outcomes vary. In her comments, Parrott emphasizes a “boring, plain vanilla” approach focused on assets and services outside the most speculative elements of the AI buildout. The outlets describe how investors are currently showing strong interest in credit opportunities connected to AI-driven demand, with data centers and chip-related themes drawing attention across global credit markets. Against that backdrop, Parrott’s view centers on identifying more stable, infrastructure-related exposures on the outskirts of AI—areas that are expected to see continued investment as deployments expand. Both sources present the same core message: while AI itself is driving market excitement, Nuveen’s leadership is focusing on underlying infrastructure components that are expected to remain relevant over time.