AI Is Priced in Dollars and Constrained by Megawatts. Four Percent of Deals Publish the Megawatts.

Across the 606 AI deals we track, 23 say how much electricity they need. Those 23 alone commit 56.9 gigawatts. The gap between those two numbers is why every forecast of AI power demand is guesswork.

Nvidia Is Now on Four Sides of Its Own Demand

Across two days in late July, Nvidia showed up in four separate deals we track: as investor, as guarantor, as factory partner, and as standards convener. In none of them was it simply selling chips. Here is what that pattern changes about reading AI demand numbers.

Washington Is About to Back Open Weights. China Already Set That Price.

Twenty-five US tech firms lobbied against open-model restrictions the same week US developers started reaching for a Chinese model by default. That is defense, not principle, and it tells you where model margins go next.