What We Keep After the Heat
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The Decoupling of Pressure
A strange mismatch has taken shape around artificial intelligence. At conferences and in interviews, the people building AI repeat the same urgent concerns: power is tight, compute is stretched, and expansion is hitting physical limits. Yet, everyday use tells a completely different story. When people open AI tools today, they
When Absence Becomes Unaffordable
Some arrangements, once they are put into operation, no longer treat exit as a reversible move. Not because departure is forbidden, but because returning after a position is lost becomes prohibitively expensive. Power purchase agreements extend across decades. Transformer orders sit in queues measured in years. Grid connection permits, once
Where AI Inherits the Tempo of Infrastructure
Not all AI scales by code. Some of it scales by permits, steel, and time. Sequence Cannot Be Skipped AI is often discussed as software, but parts of its development now resemble heavy industry. Not in appearance, but in constraint. Progress is no longer gated by models alone, but by
From Tariffs to Optionality: How Policy Risk Is Repricing Corporate Value
Markets continue to rely on familiar signals such as growth, margins, execution, and competitive position. What has become less stable is the context in which these signals are interpreted. Increasingly, they are assessed alongside constraints that sit outside the firm’s control, and policy-driven uncertainty is one of them. The