So what is, what is driving this unprecedented demand?

Sure.

So, you know, obviously there have been data centers for decades, um, but what we're seeing today really began with the launch of ChatGPT almost on the dot in November of, of 2022.

Um, before that, for, for basically three or four years, we were building around $8 billion to $10 billion worth of U.S. data center capacity per year.

Um, but after ChatGPT came out, uh, you can look at the graph of data center construction values, it, it just turns into a hockey stick, uh, and it surges well above $30 billion.

So, uh, you know, that, that GPT moment, uh, really kicked off a global arms race to advance these, these AI models, um, you know, definitely for commercial use, but also increasingly for national security purposes.

Uh, and we've seen all these big tech companies, the hyperscalers pledge hundreds of billions of dollars of annual spending on, on data centers to train AI models, but also to respond to user inquiries.

But who, who is making m- the most money in the data center ecosystem?