Uncharted Territories

Uncharted Territories

Compute—the Oil of the 21st Century

Why Are AI Hyperscalers Betting Trillions?

Tomas Pueyo's avatar
Tomas Pueyo
Nov 18, 2025
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In the last two articles we’ve covered the massive scale-up of AI investments:

  • First, whether we’re in an AI Bubble

  • Second, how hyperscalers believe they’re close to making God: They’re scaling investments to automate AI research, and from there reach superintelligence.

But what investment are we talking about? It’s hard to figure out whether we’re overbui…

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