Electricity is becoming more important than chips because without power, compute cannot operate—making energy the true limiting factor.
| Resource | Role | Limitation |
|---|---|---|
| Chips | Compute capacity | Scalable (manufacturing) |
| Electricity | Enables operation | Location-dependent, constrained |
| Cooling (water) | Supports uptime | Increasing constraint |
Chips can be purchased.
Electricity must be secured—and often cannot be scaled quickly.