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Chris Harvey's avatar

Great post! Key part of the article for me:

Takeaway #3: The Real Leverage Lies in Data Infrastructure, Not AI Applications

Rather than chasing frothy startup narratives, institutional LPs should target control over infrastructure bottlenecks—power, compute, data centers, H100s, and national model infrastructure. These are the sovereign choke points upon which all AI applications rely. Investments in industrial substrates (e.g., CoreWeave, grid adjacent data centers) offer more durable, asymmetric leverage than most application layer bets, which are prone to volatility, competition, and regulatory risk.

That’s the key difference between chasing the narrative and **owning the constraint.**

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