BNY Mellon ETF BKGI Targets $106T AI-Driven Infrastructure Gap

The BNY Mellon Global Infrastructure Income ETF (BKGI) is positioning to invest in companies exposed to a projected $106 trillion shortfall in global infrastructure spending through 2040, a gap BNY Investments links in part to rising demand for data centers and electrical-grid upgrades driven by artificial intelligence.

BNY Investments referenced a McKinsey & Company estimate that new and upgraded infrastructure may require about $106 trillion of spending by 2040 and noted current global spending levels remain below that projection.

Between April 28 and May 28, 2026, BKGI recorded roughly $120 million in net inflows, according to BNY Mellon. The fund is actively managed and allocates to traditional infrastructure companies such as utilities and transport firms, as well as to sectors the manager classifies as non-traditional infrastructure, including communications services, real estate and healthcare.

The ETF’s strategy targets companies that provide income and that are involved in building, operating or financing projects tied to data-center construction and grid modernization. BNY Investments said closing the investment gap will require trillions of dollars more than current levels and that the shortfall could take years or decades to narrow.

The firm added that prolonged demand for infrastructure-related capacity could support faster growth for some companies and create valuation opportunities for firms trading at lower multiples relative to their history.

Market analysts and fund managers note that many infrastructure assets offer regulated or contract-based returns that can provide steady income and potential inflation protection. BNY Mellon supplied the fund flow data and its analysis of infrastructure demand in materials issued through May 28, 2026.