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Opinion:
Asia's AI boom runs into a power wall

Data centers drive $5tn energy investment supercycle across region
/ Mayank Maheshwari, Nikkei Asia
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This aerial picture taken on January 28, 2026 shows the Cirebon-1 coal power plant in Cirebon, West Java. (Bild: Bay Ismoyo / AFP via Getty Images)
This aerial picture taken on January 28, 2026 shows the Cirebon-1 coal power plant in Cirebon, West Java. Bild: Bay Ismoyo / AFP via Getty Images

Mayank Maheshwari is ASEAN/India energy, materials and utilities analyst at Morgan Stanley.

We are at a critical inflection point where energy, artificial intelligence and security are converging into a major investment cycle. This is likely to be the largest and longest energy investment cycle in history, with implications across every asset class, sector and geographic area.

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