BlackRock published its outlook for 2026, highlighting infrastructure limits for AI and a shift toward tokenized finance.

AI infrastructure as a binding constraint

According to BlackRock, artificial intelligence has entered a scaling phase where physical infrastructure constrains further progress.

The firm names power, networks and data centers as the primary bottlenecks for continued AI deployment worldwide.

BlackRock estimates cumulative investment requirements could exceed $100 trillion by 2040 to build and operate the necessary computing and support systems.

Trends in the crypto market

BlackRock assesses that the crypto market is increasingly focused on real-world utility rather than purely speculative trading activity.

• Payments and settlements via stablecoins are identified as growing use cases for digital assets.
• Ethereum is noted as the dominant base layer for tokenization, accounting for more than 65% of tokenized assets.

«is maturing»

Institutional demand for bitcoin

BlackRock highlights rising institutional interest in bitcoin and points to its own ETF performance as evidence of demand growth.

The report states that the iShares Bitcoin Trust (IBIT) reached $70 billion in assets under management over 341 trading days, a record pace for the market.

Overall, BlackRock frames 2026 as a year in which capital allocation will shift toward tangible infrastructure for AI and practical applications of tokenized finance.