Grayscale launches $GCPU, an ETF targeting AI compute infrastructure.
Thesis: Physical compute is the bottleneck. Data centers have 6-month runway, build times run 2-5 years. Annual AI capex projected >$1T.
Holdings: Native datacenter operators + alternative plays repurposing existing power/land (including $BTC miners pivoting to AI hosting).
Trade: Direct exposure to AI infrastructure layer without hyperscaler concentration risk. Available through standard brokerage accounts.
Thesis: Physical compute is the bottleneck. Data centers have 6-month runway, build times run 2-5 years. Annual AI capex projected >$1T.
Holdings: Native datacenter operators + alternative plays repurposing existing power/land (including $BTC miners pivoting to AI hosting).
Trade: Direct exposure to AI infrastructure layer without hyperscaler concentration risk. Available through standard brokerage accounts.