Data centers are already paid for, so they’re being built. But if they can’t go online due to power costs. Then that will burst the bubble.

As for AI use… Sadly there are a bunch of people using it. And while the drop off rate of people trying it and ditching it is steep, there’s actually a readoption curve. Which never fucking happens.

So everyone is betting on the next model being better, and more people giving it all a second chance… Which are two open questions.

But no power means no new model and no readoptions. This no profit. Those other steps can fail, but without power it all fails.