AI Infrastructure Arms Race

Massive capital flowing into chips (SambaNova, Etched, Olix), inference clouds (Together AI, Fireworks AI, Applied Compute), hyperscaler capex (OpenAI $750B), and energy (Antora, Valar Atomics). Open-weight inference shift accelerating. Risk signals: circular financing, WeWork 2.0 concerns. New: Lovable $400M at $13.3B (no-code AI platform), CodeRabbit $143M at $1.5B (AI code review), Skan AI $63M (enterprise AI platform).