The physical systems behind artificial intelligence

Alphabet just doubled its quarterly capital spending — and the most significant line wasn't in the financial summary.

When hyperscalers raise guidance, the market no longer asks "how much?" It asks "what is the money buying?"

Ex-Bitcoin miners aren't dying — they hold the one asset no hyperscaler can manufacture on demand: an active grid connection. How PPA flexibility is reshaping the compute supply chain.

Meta internalizes the silicon, memory, optics, and energy required for its artificial intelligence infrastructure.