Inside the S&P 500 AI boom, industrials are getting as rich as tech stocks

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As the AI infrastructure buildout and global geopolitical developments spur massive spending, an old-guard sector of the economy is getting a level of attention from investors that rivals the action in tech. The industrials sector of the S&P 500 is trading at a price-to-earnings ratio above 30, a level investors more often associate with high fliers, and a P/E ratio that is well above industrials' long-term average, which is closer to 20. "If you look at [Industrial Select Sector SPDR] XLI from State Street, its valuations are really high relative to the S&P 500," Cinthia Murphy, director of research at VettaFi, said on the most recent "ETF Edge." "It's as high as tech, so it really is a sector that has really had its moment in the sun and picked up a lot of attention," Murphy said. The race to construct AI data centers in hopes of gaining a durable business advantage in a rapidly-shifting digital infrastructure has gripped the corporate w...

Bechtel CEO: to build America’s future, we must first build the builders

Bechtel CEO: to build America’s future, we must first build the builders Brendan Bechtel says it's time to build the builders. Fortune courtesy of Bechtel Brendan Bechtel Sat, July 25, 2026 at 5:30 AM PDT 5 min read America just blew out the candles on its 250th birthday a moment to celebrate the freedoms and ideals that define us. But behind those ideals stands something more tangible: infrastructure. The hardware of civilization that made the American dream real, livable, and lasting. Since its founding, our nation's capacity to build at scale has made the United States a world power. The railroads and highways that moved people and goods. The refineries, pipelines, nuclear plants, and LNG terminals that fueled our growth. The defense systems that kept us safe. America wouldn't be America without them. More from Yahoo Scout What infrastructure challenges does America face at 250? How many skilled workers does America need by 2030? What career opportunities exist in skilled trades today? How is Bechtel addressing America's workforce development needs? None of it built itself. Our most critical infrastructure was raised over generations designed and engineered, then constructed by carpenters, masons, laborers, ironworkers, operators, teamsters, pipefitters, welders, and electricians. They built the facilities that made America the world's largest producer of both oil and natural gas. We need to marshal that workforce again. Demand for AI data centers, reshored manufacturing, and new energy is surging all at once against a backdrop of aging grids, roads, and ports. Few generations have had the chance to build so much, so fast, with so much riding on the outcome. Whether we rise to the occasion won't be decided by money, technology, or political will alone. It will be decided by how well we, as a nation, can develop and motivate skilled craft professionals. Unlike almost any other career, this work is stubbornly and satisfyingly physical. It happens on site, in specific places, done by people whose expertise takes years to earn. Every shift, every day, the country grows because of these builders. They are the unsung heroes of American industrial might. That makes the future of America's skilled trades the challenge of the moment. For too long, many treated a career in the trades as a consolation prize what young people did if college wasn't in the cards. For a generation, the pipeline of new craft professionals hasn't kept pace with demand. Now the math is catching up with us. The main bottleneck to America's AI ambitions won't be a shortage of computer scientists. It will be a shortage of skilled labor. The Center for Strategic and International Studies estimates the U.S. will need 140,000 more electricians, HVAC technicians, pipefitters, heavy-equipment operators, welders, and construction laborers by 2030 to build the infrastructure for AI alone. Our industry, our schools, and our leaders have to change that story. These aren't fallback jobs. They're careers where Americans can earn a good living, support a family, and build rare skill at the intersection of craftsmanship and...

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