Episode Details

The extreme physical gridlock of the AI boom is forcing hardware buyers to prioritize delivery speed over price, while software platforms finally proved they can successfully force users to pay an AI premium.

- Applied Materials (AMAT) is draining $1.75 billion in working capital to fund physical manufacturing.

- Forgent Power (FPS) is winning massive contracts purely by delivering grid hardware six months faster.

- Figma (FIG) eliminated free tools and found 75% of power users will buy AI credits.

Building the physical infrastructure for artificial intelligence continues to demand immense near-term cash burn.