Part 6/12:

Meanwhile, OpenAI’s revenue is projected around $13 billion this year, and it plans to burn hundreds of billions of dollars in pursuit of AI dominance. The critical question remains: will this intense expenditure deliver the revolutionary applications, productivity gains, and cost savings that justify the investment? Or will it resemble the telecom overbuild of the early 2000s, where most fiber went unused?

Power: The New True Constraint in AI Expansion

The discussion then shifts to a crucial bottleneck in AI expansion—power supply. Traditionally, chip production was considered the key constraint; however, chip manufacturers like Nvidia and AMD now meet demand, signaling that supply of processing hardware is no longer limiting.