At the start of April, we wrote a lengthy report discussing why the AI trade may or may not end up being an paradigm jump for human productivity (as the market has already largely priced in when it comes to various companies such as Nvidia and Microsoft), but that it will certainly end up in the scrap heap of innovation if there is no electricity to power it. Which is why we said that the next AI trade is that, which will make widespread AI, with its insatiable electricity demand...
... possible in the first place, namely infrastructure, electrification, power grid, and energy, and highlighted a basket of companies...
