Weekly Articles
Long-form research on the bottlenecks, platforms, and infrastructure behind AI.
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Why Power Is the Bottleneck for AI
The next wave of AI capex is no longer constrained by demand for GPUs alone. Grid capacity, transformers, switchgear, turbines, and cooling are increasingly the hard limit.
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Every week we publish subject-driven pieces on semis, power, networking, infrastructure capex, and where value is accruing across the stack.
HBM Is Becoming the Real Scarcity Layer in AI
As AI accelerators become more capable, the bottleneck is shifting toward high-bandwidth memory, advanced packaging, and the small number of suppliers that can actually ship the full stack.
Custom Silicon Could Become the Second Wave of AI Capex
The first phase of AI spending rewarded general-purpose accelerator leaders. The next phase may increasingly reward the companies that can design custom silicon around specific workloads, economics, and deployment constraints.
The Cooling Stack May Be the Hidden Bottleneck in AI
As rack densities climb and liquid cooling becomes standard, thermal management is shifting from a data-centre detail into a core dependency of the AI capex cycle.