Who owns the AI grid: hyperscalers, listed infrastructure and the 49-gigawatt gap

Hyperscalers are committing $700 billion to AI infrastructure in 2026. Every dollar demands power the grid cannot yet supply. Antoine Tigneres maps the 49-gigawatt gap and asks whether listed infrastructure at 2009 valuations is a mispricing or a liquidity discount worth holding.

Who owns the AI grid: hyperscalers, listed infrastructure and the 49-gigawatt gap

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