AI token consumption projected to grow 24x through 2030. Demand drivers: autonomous agents, @OpenAI's reasoning models, and cheaper inference options pushing usage higher.
Bottleneck remains physical infrastructure—compute capacity can't scale fast enough. Supply-demand imbalance favors infrastructure plays and anything solving the compute shortage.
Watch GPU supply chains, data center REITs, and energy infrastructure. If demand curve steepens faster than capex can respond, pricing power shifts to infrastructure owners.
Bottleneck remains physical infrastructure—compute capacity can't scale fast enough. Supply-demand imbalance favors infrastructure plays and anything solving the compute shortage.
Watch GPU supply chains, data center REITs, and energy infrastructure. If demand curve steepens faster than capex can respond, pricing power shifts to infrastructure owners.