Global power is no longer defined only by oil, trade routes, or military reach. A quieter shift is underway—one driven by pools of capital that sit between governments and markets. Sovereign wealth funds, once built to manage excess oil revenue, are thinking like long-range architects of the global economy.At the center of this shift is a simple yet far-reaching idea: the fate of artificial intelligence and the future of energy are converging into a single infrastructure story, which is reshaping how countries think about economic expansion. The same systems required to support AI—data centers, high-voltage grids, advanced semiconductors, and uninterrupted...