What worries me more now is not the AI bubble itself, but the fact that wars are starting to shape the physical boundary conditions around it.

What worries me more now is not the AI bubble itself, but the fact that wars are starting to shape the physical boundary conditions around it.

At some point, society may simply not be “in the mood” for massive data-center expansion. Not because computation stops mattering, but because energy, debt, grid access, and political attention become more urgent than another glossy promise about scale. Reuters has recently reported both energy-supply disruption risks tied to the Iran conflict and European grid-connection delays already constraining data-center expansion.

That is the real limit: not model quality, but reality’s patience.

A data center is not an idea. It is power, cooling, permits, financing, cables, and time.

And history has a bad habit of walking straight into server rooms.