Tom Giles

Let's break down, though, what this so-called Gemini leap means.

Mandeep Singh is with us, Bloomberg Intelligence Senior Tech Analyst, joining us.

Is it a big leap?

Well, first of all, Ed, thank you for having me on your show.

And look, from our perspective as infrastructure investors, we have a pieces driven approach to investing in infrastructure assets and a longer term time horizon.

And we do believe that AI infrastructure is a significant investment opportunity for us.

Now, here at Carlyle, we are developing over 20 gigawatts of data center capacity, primarily hyperscale data center capacity.

But we aren't just developing these assets in isolation.

We have taken a much more comprehensive view where we are looking across the value chain for AI infrastructure, and we are making sure that we're developing these assets with that comprehensive lens.

So that means absolutely developing data centers, but also addressing one of the most significant bottlenecks when it comes to data center development, which is access to power.

Look, you had a little bit of a snapshot where you were watching Elon talk about AI, and he was talking about access to energy being the one most significant bottleneck.

The way we are developing AI infrastructure is that we are building these large-scale energy campuses where we have power generation capacity that's co-located next to this data center capacity.

That's copier power, am I right?

This is actually something that you formed.

I was reading about the release back in 2021.

It was a new portfolio company that's just building out, in terms of a platform nature, these campuses.

The scale is extraordinary.

What was interesting was back in 2021, it was all about sustainable infrastructure.

It was all about renewable power sources.

Is that realistic now when we think about the energy necessity?