The AI Buildout’s Real Constraint: Power
Power is emerging as the binding constraint in the AI buildout. Goldman Sachs has called it “probably the forever bottleneck,” and multi-gigawatt shortfalls are already being projected for U.S. data centers. This episode looks at where the demand is coming from, which layers of the power stack are seeing the orders, and what it means for portfolios relative to pure chip exposure.
The skinny
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