The trillion-dollar AI buildout

AI stopped being only a software story and became one of the largest construction efforts in history: warehouses of specialized chips, new power plants, and hundreds of billions in yearly spending. This cursus explains it from the ground up, why compute became the bottleneck, what an AI data center really is, why electricity is now the binding constraint, and how to judge whether the whole thing is a rational bet or a bubble. Mechanisms, not predictions.