International technology companies are on track to deliver faster earnings growth than their U.S. counterparts through 2028. That’s well ahead of the 35% pace projected for U.S. tech, said Matt Burdett, head of equities at Thornburg Investment Management, in a recent mid-year outlook. Despite the spending, AI providers have yet to prove their business models can turn a consistent profit, Burdett wrote. The firm runs the Thornburg International Growth ETF (TXUG), which targets non-U.S. companies posting faster earnings growth without the debt hyperscalers are taking on to fund AI spending. Export Growth Fuels International TechExport growth in some of those countries has outpaced the broader trend, Burdett wrote.