- Essays··7 min read
2.5 billion gallons — and the number Amazon still won't print
Amazon finally printed its water number — 2.5 billion gallons. But read the boundary before you read the figure: the water that matters most is the water nobody puts in the press release.
data-centre-watercorporate-disclosureai-infrastructuresustainability-accountingRead - Essays··8 min read
Brussels finally wrote sovereignty into a statute. The graveyard it's walking into is well-marked.
Brussels has finally written sovereignty into binding law, and the top rungs of CADA's ladder are built so a US-domiciled parent cannot reach them. On the law, I'd take the over. On the timeline, I'd take the under — heavily.
digital-sovereigntycloud-acteu-regulationhyperscalersRead - Essays··7 min read
Copper ran out of road, and nvidia just bought the on-ramp to what's next
Two press releases, forty-eight hours apart, told you more about the next decade of AI infrastructure than any keynote. Copper ran out of road, and NVIDIA just bought the on-ramp to what comes next.
ai-infrastructureco-packaged-opticsnvlink-fusioninterconnectRead - Essays··8 min read
three acts, one substation: Brussels just promised to triple Europe's datacentres
Brussels promised to triple Europe's datacentres in five-to-seven years. The tripling target is not a capacity problem dressed as a policy problem — it's a power problem dressed as a permitting problem, and the substation queue will decide whether any of it ships.
eu-tech-sovereigntydatacentre-capacitygrid-powerai-infrastructureRead - Essays··7 min read
Brussels wants to triple data centre capacity and asked you to switch off the dishwasher — on the same afternoon
Brussels filed two plans on the same afternoon that quietly cancel each other out: triple the data centres, and please switch off the dishwasher. It's a demand-management answer to a supply problem, dressed as industrial strategy.
data-centreseu-policygrid-capacityai-infrastructureRead - Essays··7 min read
Hedge Funds Are AI'maxxing — and the Exit Door Is Getting Narrower
1,059 hedge funds have made a record, leveraged, one-directional bet on AI semiconductors. The underlying thesis is probably correct. But 'probably correct thesis' and 'good risk-adjusted trade at current positioning' are not the same sentence.
hedge-fund-crowdingai-infrastructuresemiconductor-concentrationleverage-riskRead