In mid-December 2025, the stock market experienced a significant psychological shift. High-flying semiconductor stocks, which had led the market for months, faced heavy selling pressure following earnings reports from major tech players like Oracle (NYSE: ORCL) and Broadcom (NASDAQ: AVGO). Investors began to question the immediate return on investment from massive capital expenditures in artificial intelligence (AI), leading to a sharp rotation away from chipmakers—the so-called “brains” of AI systems.
However, while the market debates which chip architecture will dominate the future of computing, the physical requirements of AI remain unchanged. Data centers are physical factories that convert electricity into intelligence. They cannot function without regulated power, massive cooling capacity, and water management.
