What Is the Next Bottleneck for AI?

Rene Haas says the next bottleneck for AI is building out the data centers. Not many projects being built today are ahead of schedule and also in need of less labor than they thought. Pressure in parts of the United States to slow data center development, or to put restrictions on it, adds a further constraint.

He calls the infrastructure headwind possibly acceptable, because wafer capacity and memory capacity would be the limit if construction were not. Several constraints throttle growth at the same time. Questions on panels keep asking when the AI bubble stops. Setting aside valuation bubbles in the stock market, supply versus demand is not even close to an oversupply. Demand is insatiable given how the models work, while infrastructure build-out, access to wafers, and access to memory all combine to hold supply back.