Is the AI hype
cooling down?
A composite reading of physical build-out and platform economics. Higher means the expansion is still intensifying; lower means the momentum is fading. Here's what goes into it.
What the answer is built from
Five independent signals, each weighted by how directly it reflects real, committed demand. Each is scored from 0 (contracting) to 100 (surging).
The trajectory
Where the money and the megawatts are actually going.
Combined infrastructure spend, per quarter
Billions of dollarsSpend by operator
$B / quarterNew data-center power queued
Gigawatts / yearTotal new power capacity queued
Gigawatts / yearWhere data-center load is landing
GW in queue, top regionsWhere it could actually jam
Demand is only half the story. Even with the money flowing, the build-out runs into hard physical limits — and four of them govern how fast AI compute can be poured. Here's how binding each becomes year by year through 2030, and the companies with the most leverage over each chokepoint.
Company names indicate supply-chain exposure to each bottleneck — illustrative, not investment advice. Trajectory synthesized from IEA, McKinsey, SemiAnalysis, SK Group and industry commentary (2024–2026).