The AI Stack Is Inverted: Why the Real Money Is in Infrastructure
As AI apps vanish into the model layer, and models commoditize, money and profits flow into infrastructure and real estate, not software
Traverse the AI Stack
There are three fundamental layers in the AI stack:
Infrastructure: the physical substrate: power generation, transmission lines, substations, transformers, cooling systems, data centers, networking equipment, and permitting regimes.
Models: the weights and architectures: LLMs, diffusion models, multimodal models, and the teams that t…