.@nvidia is putting 170,000 GPUs on an island in Indonesia. The campus was announced 2 weeks ago and goes live Q1 2027, a timeline thats practically impossible in US right now.

GPUs aren't the holdup, Nvidia is handing out 170,000 of them on a revenue share. What's scarce is somewhere to plug them in on a timeline that matters.
US interconnection queues run 5+ years in many regions. A behind-the-meter gas turbine takes 18 months. That gap is now the whole site-selection game.
And more friction keeps getting added on US side. Roughly $130B of capacity blocked or delayed in Q1 alone. Virginia, the biggest data center market on earth, just added a $0.011/kWh power tax, call it $100M a year on a 1 GW site.
Site selection used to be a real estate decision. It's a power procurement decision now, and the fastest answers are moving offshore.