Thoughts on AI compute supply for year-end

Been watching the AI space closely, particularly the bottlenecks in compute supply. Everyone's talking about the demand for GPUs, but the broader infrastructure – power, cooling, real estate – is becoming a significant factor. I'm looking at $BRN, which is trading around 1.07 today, and thinking about the longer-term infrastructure play.

My take is that we're heading into a period where the constraint shifts from just chip availability to actual data center capacity. I'd give it a 60% probability that by Q4 2024, the narrative around AI will be less about 'who has the best model' and more about 'who has the capacity to run their models at scale'. This will disproportionately benefit companies involved in data center build-out and specialized power solutions. It's a longer-term trade, but the trend seems clear.