AI investment boom continues with record rounds and infrastructure buildout

July 2026 saw 14 billion-dollar rounds, AI taking 53% of global VC. Big Tech capex $1.1T annually. Tesla/SpaceX $16.8B chip factory, Sequoia $10bn behind AI reindustrialization. Signs of strain: rising borrowing costs, AI product margin challenges. UK VC concentration raises ecosystem fragility concerns. Infrastructure build-out compared to historical booms, with scaling laws debate.