Morning Briefing

- AI’s biggest bottleneck is shifting from chips to power, data centers and manufacturing; buyers are signing power contracts for 10–20 years. - Enterprise spending on generative-AI infrastructure hit $18 billion in 2025, double 2024, with most going to model APIs rather than training or data orchestration. - Funding is concentrating: rounds of $100 million or more accounted for 79% of AI investment in 2025, favoring companies with proven revenue. - No clearly verified overnight infrastructure product launch appears in the supplied results; the freshest evidence points to constrained expansion rather than a major new release.