want to become wealthy.

MARKET & MACRO · AI CYCLE & POWER INFRA PART 1 📘 Part 1. The First Signs of an AI Investment Slowdown — From Three Years of Explosive Growth to a New “Speed Adjustment” ■ “AI investment growth is expected to slow from 2026” From 2023 to 2025, we’ve lived through what can only be called an AI infrastructure gold rush. Large language models (LLMs) like ChatGPT, image and video generators, recommendation engines, search and ad algorithms — you could argue it was harder to find a service not using AI. Every major Big Tech name and a growing number of global enterprises went “all-in” on AI. What supported this gold rush was not just the algorithms themselves, but the massive amount of physical infrastructure — CAPEX — required to make them run. NVIDIA’s GPU shipments hit fresh record highs quarter after quarter, with AI and data-center GPUs taking an ever-larger share of the mix. According to TrendForce estimates...