Everyone’s excited about AI and new tech but none of it work...

Everyone’s excited about AI and new tech but none of it works without the basics: power, metals, and infrastructure. Think about it: No ChatGPT without data centers. No data centers without electricity. No electricity without copper and uranium. No computer chips without rare https://t.co/4uRyTX9C72

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.@romeovdean and I wrote a blog post to teach ourselves about the AI buildout. We were surprised by some of the things we learned: 1. There’s a huge fab CapEx overhang - with a single year of earnings in 2025, Nvidia could cover the last 3 years of TSMC’s ENTIRE CapEx. In 2025, NVIDIA will turn around $6B in depreciated... See more

Dwarkesh Patel

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I listened to a call with several JPM analysts on the AI / data center trend. At the risk of continuing to state the obvious, this will be the most important growth investing trend of the next decade. The focus was really on how to play the AI trend beyond obvious names like Nvidia $NVDA (which I own in size) and Super... See more

Radnor Capital x.com

The money is not the problem: AI is the new global arms race, and capex will eventually be funded by governments (US and China). If you want to know why gold/silver/bitcoin is soaring, it's the "debasement" to fund the AI arms race. But you can't print energy

zerohedge x.com