AI Infrastructure Shifts Toward Sovereign Compute, Resilience, Networking, Custom Silicon, Storage, Power, and Edge

Infrastructure bets span network readiness and Google’s reported first orbital TPU-and-Gemma workload, an early prototype rather than usable capacity. Rising hyperscaler capex and reported negative free cash flow at Alphabet, Amazon, and Meta sharpen the returns test; utilization, delivered capacity, power constraints, and independently measured performance remain decisive.