[latchkey]

> Though do keep in mind that power is also fungible with money, especially in a data centre.

Untrue. I have filled 3 very large data centers where there was no more power to be had. Data centers are constrained by power. At some limit, you can't just spend more money to get more power.

It also becomes a cooling issue, the more power your GPUs consume, the more heat they generate, the more cooling that is required, the more power that is required for cooling. Often measured in PUE.

[eru]

You are right about any given data centre in the short run.

But you can use money to rent more data centres.

[latchkey]

Hate to break it to you. That is getting harder and harder. Certainly you can get a couple mw, but if you want 50, you are going to find that to be extremely challenging, if not impossible.

[eru]

Are you saying people stopped building data centres?

You can also pay to get more data centres built.

[latchkey]

The large ones being built today are spoken for already. That is how crazy the demand is right now. People aren't talking about it in the general news. They can't build them fast enough cause things like transformers, generators and cooling are all having supply issues.

Even still, power is limited. You can build DC's but if you can't power them... what are you going to do? This isn't just throw more money at the problem.

Have you noticed that data center stock, like EQIX, are at all time highs?

[eru]

> Have you noticed that data center stock, like EQIX, are at all time highs?

Though the FTSE All-World index (or the S&P 500) is also at all time highs, so I would expect most stocks to be at all time highs, too.

> Even still, power is limited. You can build DC's but if you can't power them... what are you going to do? This isn't just throw more money at the problem.

I guess you can try to outbid other people? But thanks: I didn't know the data-centre-building industry was so supply constrained at the moment.

[latchkey]

I knew you'd say that. SMCI though. It isn't just the macro. It is this AI stuff and has been going on quietly behind the scenes for the last 1.5-2 years now. Unless you're deep in the business, it just doesn't make the news headlines because it is all so intrinsically hush hush.

> I didn't know the data-centre-building industry was so supply constrained at the moment.

The whole supply chain is borked. Try to buy 800G mellanox networking gear. 52 week lead time. I've got a fairly special $250 cable I need that I can't get until April. I could go on and on...