VanEck Highlights AI Infrastructure at Exchange 2026

Why It Matters

The outlook signals a shift of AI investment from chips to the underlying power and metal supply chain, creating new thematic opportunities for investors. It also underscores the outsized performance of emerging markets and undervalued credit assets in a de‑dollarizing environment.

Key Takeaways

• REMX wins Thematic ETF of the Year for AI infrastructure.
• Emerging markets delivered 37% return in 2025, beating S&P 500.
• Gold miners ETF gained 111% despite $3B outflows.
• VanEck’s uranium ETF benefits from AI-driven power demand.
• BDCs trade at 10‑20% NAV discount, offering 12% yields.

Pulse Analysis

VanEck is positioning itself at the forefront of what Ed Lopez calls the "physical AI" trade, a narrative that moves beyond software and semiconductors to the raw materials and power infrastructure needed for next‑generation computing. By spotlighting ETFs such as REMX, EMET and NLR, the firm highlights rare earths, copper and uranium as critical inputs for data‑center expansion and defense applications. This thematic focus aligns with broader industry forecasts that AI‑driven workloads will double global electricity demand by 2030, prompting investors to seek exposure to the supply chain that fuels that growth.

Emerging‑market performance emerged as another headline, with a 37% return in 2025 outpacing the S&P 500’s 17% gain. Lopez attributes part of the outperformance to de‑dollarization, as central banks in regions like Europe and Asia diversify reserves away from the U.S. dollar amid geopolitical tensions. India, in particular, is highlighted for its rapid digital adoption, biometric ID rollout and fintech innovation, making the newly launched VanEck India Select ETF a conduit for investors chasing high‑growth, compound‑rate opportunities in a market poised for structural reforms.

Despite broader market volatility, VanEck’s gold miners ETF posted a 111% surge in 2025, even as it faced $3 billion of outflows, suggesting improved operational discipline within the sector. Lopez also flagged business‑development companies trading at 10‑20% discounts to NAV, delivering roughly 12% yields, as a niche private‑credit play. These discounted credit assets could attract yield‑seeking investors once the sector’s software‑related concerns subside, adding another layer to VanEck’s diversified thematic strategy.