Eric Flaningam

Generative Value ↗

AI Infrastructure · AI (Horizontal) · Semiconductors

• What has to go right to justify the trillions being spent on AI CapEx?↗ 19 Oct 2026
  With $1.4T in AI CapEx expected by 2027–28, cloud vendors need $600B+ in annual revenue by late 2027 and $1T+ by 2028 to become self-sustaining; the article maps supply-chain constraints and identifies what must go right—frontier performance, adoption speed, and high-value workloads—for the buildout to pay off.
• The Hyperscalers & The Compute Crunch (Quarterly Update) 4 May 2026
• Q4 ‘25 Cloud Update (What’s going on with software?) 9 Feb 2026
• 2025 Annual Letter 4 Jan 2026
• Thoughts on the Hyperscalers (Q3 '25 Update) 6 Nov 2025
• Open Source Business Models: Notes on Profiting from Free Software 26 Aug 2025
• Free Software & The Future of Software Business Models 10 Aug 2025
• Q2 ‘25 Cloud Update: CapEx Keeps Rising! 4 Aug 2025
• The AI & Healthcare Opportunity 20 Jul 2025
• Where do Tech Returns Come From? 8 Jul 2025
• Meta's AI Strategy 24 Jun 2025
• Toast: A Recipe for Building a System of Record 16 Jun 2025
• A Primer on US Healthcare 2 Jun 2025
• TSMC: The Index on Technology 19 May 2025
• The Siren Song of Advertising 11 May 2025
• The Hyperscalers & Risk-Adjusted AI 4 May 2025
• A Primer on Digital Advertising 27 Apr 2025
• The Evolution of Digital Advertising 20 Apr 2025
• Salesforce & AI Strategy 6 Apr 2025
• The Evolution of Marketplaces 30 Mar 2025
• Databricks and the Future of Data 23 Mar 2025
• On the Lifecycle of Industries 15 Mar 2025
• The Current State of AI Markets 9 Mar 2025
• The Future of Foundation Model Business Models 2 Mar 2025
• OpenAI, Part 3: The (Probabilistic) Future of OpenAI 23 Feb 2025
• OpenAI, Part 2 16 Feb 2025
• Q4' 24 Hyperscaler Report: AI Supply & AI Demand 9 Feb 2025
• OpenAI, Part 1 2 Feb 2025
• AI as Electricity 26 Jan 2025
• A Deep Dive on Inference Semiconductors 19 Jan 2025

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