Everything on Infrastructure Constraints

Global data center build-out is constrained by physical limits such as power availability, silicon supply, and community pushback, rather than capital. These constraints act as a natural governor on the industry’s growth rate.

Impact: Prevents a supply glut similar to the dot-com bubble, ensuring that demand outstrips supply and supporting high margins for infrastructure providers.

— from Anthropic IPO: Efficiency, Debt, and Frontier Economics · Latent Space: The AI Engineer Podcast· Nov 07, 2026