AI Infrastructure & Power

AI's bottleneck is shifting from chips to power and data centers. This topic takes apart the infrastructure math: how a gigawatt data center gets built, where the electricity comes from, why the grid cannot expand fast enough, and who pays when power prices rise. Guests include power-industry practitioners. The unavoidable questions: can trillion-dollar CapEx earn its return, how should depreciation be counted, and why do grey arbitrages like token export and cyber power theft exist. Infrastructure is the most asset-heavy part of the AI narrative and the easiest to turn into a story — we try to turn it back into costs.

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