Daleep Singh
speaker
371 appearances
3 recordings
1 series
first heard Jun 2026
last heard 11 Aug
Daleep Singh’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Aug 2026 with 1.
Appearances
It's not exaggeration to say the AI CapEx cycle is the biggest investment story of the past century.
The five largest hyperscalers, they're on track to spend almost $800 billion on AI infrastructure this year.
Most analysts say that number will exceed a trillion next year.
And as a share of USGDP, AI-related CapEx already exceeds the peak of the late 90s internet boom.
It dwarfs
The CapEx spend on the Eisenhower Interstate Highway System, the Apollo space program, and the Shale Revolution.
Only the railroad build-out rivals the AI binge.
And even that may not be true for long, since today's AI CapEx depreciates in years, not decades.
And at the center of the AI CapEx boom are chips.
They represent anywhere from 25 to 50 percent of the cost of an AI training cluster.
The same chips that power frontier AI models also guide precision munitions, power satellite comms, and determine whether a military can see and act faster than its adversary.
So this goes well beyond the economic exposure.
Which is itself staggering, the national security stakes are potentially existential.
And whoever controls the leading edge of chip production therefore doesn't just have an economic edge, they have an overwhelming strategic advantage.
And it's why governments have been in a race to shore up their supply chains.
Of course, the US passed the CHIPS Act in 2022.
Europe followed suit with its own CHIPS Act.
Japan legislated around
Of subsidies.
China has made a $150 billion push.
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