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Why China is Hedging Against America's Trillion Dollar AI Buildout
(dialecticaldispatches.substack.com)
Honestly, even if you believe transformer-based LLMs running on GPUs are the end-all, datacenters are still such a rapidly depreciating asset just with incremental improvements in processing technology. Add in the possibility of ASICs or a different computing substrate entirely, as you mentioned, and you're looking at these multi-billion dollar investments becoming obsolete in a few years.