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Feb 13
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LONG
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David Sacks
Craft Ventures / General Partner
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"You're seeing a lot of jobs being created in construction, especially non-residential construction. Has to do with the data centers, the AI boom that's going on." The $600B capex spend requires physical infrastructure. This directly benefits engineering, construction, and industrial firms that build the shells and power systems for AI data centers. Long Industrial and Construction sectors exposed to data center build-outs. Regulatory halts on power consumption or a slowdown in AI scaling laws. |
All-In Podcast
Debt Spiral or NEW Golden Age? Super Bowl Ins...
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Feb 13
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LONG
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The speaker notes that companies with "high human kind of work hours, labour intensive" models are under pressure ("paranoia is category five"). Conversely, those "installing datacentres" will be "minted for the next few years." The market is bifurcating based on labor efficiency. Capital is fleeing labor-heavy legacy businesses and flowing into AI scalability and the physical infrastructure (data centers) required to run it. LONG Data Center Infrastructure and AI scalability plays; SHORT/AVOID labor-intensive service sectors. Overbuilding of data center capacity or regulatory crackdowns on AI job displacement. |
Bloomberg Markets
S&P 500 Erases Year’s Gains, Asia Prospers: 3...
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Feb 12
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LONG
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Roland Busch
President and CEO, Siemens
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Siemens doubled US manufacturing capacity for data centers. "There might be shortages on power supply." The AI trade is moving from software to hardware/physics. As AI models hit the real world (factories, grid), the bottleneck shifts to power and cooling. Companies that provide the "pipes and infrastructure" (Physical AI) will outperform generic software. Long Industrial Infrastructure and Grid Equipment providers. CapEx cuts by Hyperscalers. |
Bloomberg Markets
Nuveen to Buy Schroders in £10B Deal | The Pu...
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Feb 11
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LONG
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Doug Ostrover
Co-CEO, Blue Owl
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Blue Owl's Co-CEO is "super bullish" on digital infrastructure and views it as a hedge against software volatility. Even if AI disrupts software companies (the application layer), it increases demand for the physical layer (compute/power/data centers). Asset managers are financing this build-out. Long the "picks and shovels" of the AI trade via data center infrastructure. Overbuilding or regulatory hurdles in energy consumption. |
CNBC
How alternative asset managers are easing sof...
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Feb 10
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LONG
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Mark Rayfield
CEO, Saint-Gobain North America
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Data centers are a growing component of the commercial segment (approx. 35% of commercial business). Beyond just chips and servers, data centers require massive physical infrastructure: fast-curing foundations, advanced waterproofing to protect assets, and thermal insulation for cooling. Local manufacturing is critical here because these projects demand speed—they cannot wait for imports. Saint-Gobain has 140 manufacturing sites to supply these centers quickly. The sector tends to follow a "sine wave" pattern where builders overshoot demand (similar to multi-family recently), leading to a correction, though the CEO is not currently worried. |
CNBC
Property Play: Saint-Gobain North America's c...
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