Datacenters & Digital Infrastructure
Where inference runs, and what stops it running.
Electricity used by data centres, AI and cryptocurrency worldwide in 2022 — about 2% of global demand
In scope: capex and buildout timing, capacity and utilisation, cooling and PUE, site selection, the hyperscaler payer side — and power in full: generation (nuclear, gas, renewables), PPAs, grid interconnect queues, power arbitrage and energy ownership. Power is not a footnote on this rung. Out of scope: the silicon inside the building (hardware), what the compute costs to rent (inference-economics), and energy-transition subjects with no datacenter link, including grid storage, EVs and solid-state batteries.
What Actually Binds the Buildout
Power, packaging and memory bind simultaneously — $162B of projects stalled, CoWoS sold out, and a 135 kW rack that forces liquid cooling
Auditing Industry Backlog
Four real contracted-demand figures, one provable double count, and the discipline to refuse a correction the disclosures cannot support