Great overview - Missing many many firms that do facility and infrastructure design before the GC gets the project started. But all good information otherwise!
This value chain graphic is one of the best maps of the AI infrastructure stack I’ve seen. The bottom row — Energy and Industrial Equipment — is where the alpha is hiding. Vertiv just posted a $15B record backlog with +60% organic order growth. The cooling and power distribution layer is getting pulled forward by 3.6M Blackwell GPU orders. Most investors are still staring at NVDA while the real compounders are below the chip layer.
Having visited several data centers in Santa Clara recently and witness Pods of DGX H100s in action, with more racks being buildout to hold larger super-Pods, it’s evident that we are still on the early part of this AI Data Center growth trajectory with more to come. The biggest bottleneck locally in South Bay is the Moratorium on power. These energy challenges are mentioned in the article https://www.datacenterfrontier.com/energy/article/55089067/silicon-valley-utilities-gird-for-surging-us-energy-demand-fed-by-new-data-centers.
Great overview - Missing many many firms that do facility and infrastructure design before the GC gets the project started. But all good information otherwise!
Could you share examples of firms doing this?
My goat is back
Excellent
This value chain graphic is one of the best maps of the AI infrastructure stack I’ve seen. The bottom row — Energy and Industrial Equipment — is where the alpha is hiding. Vertiv just posted a $15B record backlog with +60% organic order growth. The cooling and power distribution layer is getting pulled forward by 3.6M Blackwell GPU orders. Most investors are still staring at NVDA while the real compounders are below the chip layer.