Power delivery determines when compute earns revenue

Anomaly's scenario midpoint rises from a 30 GW estimate in 2025 to 75 GW in 2028 to 2029. We assess power delivery alongside paying workloads, delivery schedules and the price of capacity.

Thesis chapters

• Buildout: The bottlenecks behind AI capacity
• Capital: AI capacity must earn its cost
• Economics: Who earns more when intelligence costs less?
• Physical: Power delivery determines when compute earns revenue
• America: US AI spending raises the return hurdle