David Bianco predicts that China and the Middle East will also see huge investments in data center construction.

David Bianco of DWS expects data center capital expenditures in the U.S. alone to reach $600 billion.

David Bianco, CIO of DWS, believes that geopolitical conflict is inherently inflationary and weighs on global productivity and growth potential.

DWS is moderately overweight in the technology and communications sectors.

The S&P 500, excluding the technology sector, is trading at a price-to-earnings multiple above 20.