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Actually, there's a huge risk right now. Don't be fooled by the strong semiconductor earnings reports—many AI data centers have been built, but the problem is there's no electricity. Power supply can't keep up, and grid construction takes over four years. So it's kind of like the real estate market in China a few years ago: a lot of buildings were constructed, but no one moved in.
The pick-and-shovel AI companies are frantically stockpiling for an "arms race"—if they can't make money, how can the sellers of picks and shovels keep profiting? That's a question worth pondering!