The world is witnessing a technological revolution, driven by the rapid growth of artificial intelligence (AI) and other emerging technologies. As these technologies continue to advance, the demand for computing power is surging, leading to a global shortage of compute, gigawatts, and power infrastructure. This shortage is causing prices to remain incredibly robust, as the race for capital continues unabated.

While some may view the increasing concentration of data centers as a concern, the reality is that the demand for compute is real and cannot be ignored. The economics of compute infrastructure incentivize capacity expansion in more complicated jurisdictions or raise the internal rate of return (IRR) enough to make having it in your backyard worthwhile.

Politics are also playing a role in the supply of compute, as constrained supply lines can lead to higher prices and longer lead times. However, the demand for compute is not going away, and the race for capital continues unabated. The question is not whether the demand for compute will continue to grow, but rather how companies will adapt to meet this demand in a sustainable and responsible manner.

In conclusion, the compute crunch is a real and pressing issue that will continue to shape the technology industry in the coming years. Companies must be prepared to invest in compute infrastructure to meet the growing demand, while also ensuring that they are doing so in a responsible and sustainable manner. The race for capital will continue, but the winners will be those who can adapt and innovate in the face of this challenge.