Markets don't just move on earnings and rate headlines. In 2025, second-order shifts—energy and compute bottlenecks from AI, record corporate buybacks, microstructure changes like 0DTE options and T+1 settlement, and new rulebooks—are quietly steering returns and risk. Here’s a plain-English tour of what many investors miss, with simple actions you can take.
1) AI capex is colliding with power grids
The AI…
