Reconciling the case for GPU futures with the centrifugal pull of edge inference| Buy the Rumor; Sell the News
How cheaper inference expands demand and drives both local and hyperscale growth| Buy the Rumor; Sell the News
Simple math highlights the risks, but utilization, margins, and financing wil decide who compounds and who gets stranded| Buy the Rumor; Sell the News
Why Apple must learn to run on two speeds| Buy the Rumor; Sell the News
The future of inference is bifurcation: cheap edge hustle at one pole, sovereign-scale sanctuaries at the other| Buy the Rumor; Sell the News
It's a second brain| Buy the Rumor; Sell the News
Why AI isn't staying locked in hyperscale temples| Buy the Rumor; Sell the News
Does intelligence stay in the cloud, or migrate to the edge? The answer decides the fate of Nvidia, data centers, and GPU futures| Buy the Rumor; Sell the News
Stop conflating a product kerfuffle with infrastructure cycles and scaling dynamics| Buy the Rumor; Sell the News
Why 2026 probably brings digestion and remix, not collapse, and what that means for data center buildouts| davefriedman.substack.com
Equinix's network effects only work when it can reliably access the electrical grid| Buy the Rumor; Sell the News
Speculating about how OpenAI would finance trillions in infra capex| Buy the Rumor; Sell the News
Annual rent esclators eat whatever excess cash its operations generate| Buy the Rumor; Sell the News
U.S. policy and derivatives trading expertise are converging to financialize GPU compute| Buy the Rumor; Sell the News
Why the fastest industrial buildout in a generation will test the limits of capital, contracts, and execution| Buy the Rumor; Sell the News
How frontier energy markets are underwriting the world's fastest compute buildout| Buy the Rumor; Sell the News
Inside the convergence of abundant energy, cheap land, and a grid built for speed-to-market| Buy the Rumor; Sell the News
Why power will decide who wins the hyperscaler data center race| Buy the Rumor; Sell the News
Building closed-loop synthetic + sensor systems to outrun diminshing returns| Buy the Rumor; Sell the News
AI will create a barbell effect in professional services firms: commoditization of low-skill services, while revenue and income will accrue to higher-value services| Buy the Rumor; Sell the News
A lot of people don't understand what elite management consultancies actually do| davefriedman.substack.com
Jevons paradox meets Sand Hill Road| davefriedman.substack.com
AI is a capital-hungry industrial revolution that eats margins| davefriedman.substack.com
ERCOT’s latest risk models show power no longer follows weather or gas. It follows GPUs. Until the grid starts pushing back.| davefriedman.substack.com
AI is about infrastructure more than it is about software| davefriedman.substack.com
Owning proprietary data isn’t a moat. It’s a mirage| davefriedman.substack.com
We're spending tens of billions of capex dollars on vast datacenters but what if the AI future is more efficient and runs cooler?| davefriedman.substack.com
Why Abilene, TX, and not Silicon Valley, is the future of AI| davefriedman.substack.com
The models eat (almost) everything that touches them| davefriedman.substack.com