A structural investment cycle is doing what energy shocks once preventedThe more important offset has been investment. Current market valuations in the United States continue to be supported by strong earnings growth from AI-related companies, many of which benefit from dominant market positions, strong balance sheets and cash flow generation. The question is not whether a correction comes but whether the structural demand that follows justifies the infrastructure being built today. Cybersecurity, defence technology, energy infrastructure and supply-chain resilience all become more valuable in a fragmented world. Middle East developments have acted more as a volatility amplifier than a fundamental derailment.