Most of the commentary on the data center buildout is still written as if the binding constraint were silicon. It isn't. For anyone actually sourcing to these projects, the constraint moved to the electrical room some time ago, and it has stayed there. Three numbers frame the problem. The power math GE Vernova closed its second quarter of 2026 with a gas turbine backlog of 116 GW, up from 100 GW a quarter earlier, and is now taking reservations for 2031 delivery slots. Like S

The United States is restructuring its energy infrastructure, its manufacturing geography, and its workforce composition at the same time, against a backdrop of demographic aging. Three forces are arriving together, and the next decade will determine whether we get broad industrial expansion or something narrower and more concentrated. I wrote a full paper on this earlier in the year. What follows is the argument in short form, with the practitioner's version of what it means

Here is a practical overview of how the messy tariffs are actually impacting the supply chain