The artificial intelligence (AI) revolution runs on two things: silicon and electricity. While the market remains fixated on the semiconductor designers, the physical constraints of the world's power grids present a far more immediate bottleneck to hyper-scaling AI.
The staggering power density and volatile load profiles of next-generation AI data centers threaten to overwhelm legacy infrastructure. This creates a structural demand for a new class of enabling hardware, and the market is rapidly re-pricing the companies providing the picks and shovels for this build-out.
