In the last few months, I’ve been thinking about one of the biggest infrastructure expenditures this world has seen since WWII: AI and compute markets.

OpenAI committed to spending $1.4 trillion on AI infrastructure by 2033; Bain projects $500 billion annual spend by 2030. It’s also a huge geopolitical strategic lever, so our government is backing it too (see the three-pillared AI Action Plan at ai.gov/action-plan).

Whichever way you look at it, AI compute is becoming critical to our modern economy, and the expenditure on the infrastructure around it is a massive economic force. Many are saying: compute futures are inevitable. Markets always emerge for critical commodities with volatile prices. Oil did it, electricity did it, why not GPUs?

… this was an excerpt; read the rest of my essay at https://kristieintheworld.substack.com/p/on-compute-commodities-risk-and-a