The Nervous System of the AI Supercycle

The AI Supercycle · Jul 31, 2026 · 34m · transcript

Episode 7: The Nervous System of the AI Supercycle

Capital Formation and the Race to Fund an $805 Billion Build-Out

For six episodes, this show has tracked the physical stack of the AI supercycle. The chips. The power. The materials. Most recently, the photonics connecting it all, and the possibility of taking infrastructure into orbit. But before any of that gets built, somebody has to raise the money.

In this episode, we turn to capital formation: not a new layer in the stack, but the nervous system running through every layer already covered. Hyperscaler capex is now guided toward roughly…