In a significant week for AI, OpenAI, Oracle, and SoftBank expanded the “Stargate” project with five new U.S. data centers, aiming for ~7 GW capacity in a $500B initiative. Nvidia will supply chips and invest in this venture. Demand for energy is intensifying, leading the White House to expedite AI power transmission projects, while Google found ways to mitigate peak energy use at data centers. Innovative cooling technologies and a shift toward nuclear power are underway among major tech firms. The AI landscape is evolving with Citi’s rollout of a pilot for 5,000 AI agents, addressing productivity gaps. HBM memory advancements are directly being pursued by Samsung, SK hynix, and Micron, enhancing AI capabilities. Additionally, the introduction of multi-model approaches in software and on-device intelligence highlights key adaptations in the market. As capital expenditures grow, market scrutiny around AI valuations intensifies, raising questions about the sustainability of growth.
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Transformative Forces Ahead: How Data Center Power, AI Agents, and Edge Devices Could Redefine Markets and Investment Portfolios
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