Nvidia Bets on Power, Not Chips, as AI's Bottleneck Shifts

Nvidia invested several hundred million dollars in Cloverleaf Infrastructure and $1.5 billion in SB Energy's Ohio project this August — targeting electricity and site development, not GPUs. With Blackwell-class chips shipping in volume, Nvidia's biggest customers now say grid capacity and multi-year wait times for grid connection, not silicon supply, are what's holding them back.