Memory bandwidth is the physical ceiling on AI inference throughput, which places the companies supplying it at the front of any rotation tied to AI capital spending
The structural problem for AI platforms trying to build ad businesses is advertiser demand: the pools of retail budget that accumulate inside closed marketplace ecosystems and rarely reach outside them.
The gap between AI capability and the methods used to constrain model behavior is the live concern behind a push, now growing louder, for slower AI development.
Tech investors are rediscovering the kind of long-shot, science-fiction-adjacent wagers that helped build Silicon Valley. That appetite for far-edge speculative positioning is returning.