GenAI: The Path Forward, Part 2 – AI ROI (“ROAI”)

Executive Summary The emergence of generative artificial intelligence (GenAI) has catalyzed a surge of capital expenditures (capex) directed at building out AI infrastructure. The “Big Four” hyperscalers (Meta, Amazon, Microsoft and Alphabet) are expected to spend over $300 billion on capex in 2025, up from $225 billion in 2024. A significant portion of this will…

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GenAI: The Path Forward, Part 1 – Scaling Laws

PDF Version Executive Summary The emergence of generative artificial intelligence (GenAI) has catalyzed a surge of capital expenditures (capex) directed at building out AI infrastructure. Big tech companies are on pace to spend over $200 billion on capex this year and even more in 2025. A significant portion of this will be directed to AI-related…

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Electrifying Innovation

PDF Version Executive Summary The power industry is on the precipice of a tectonic shift. After decades of muted growth, electricity demand surged over the last year, a trend that is expected to continue driven by data centers, industrial reshoring and electric vehicles, amongst other electrification trends. Meeting this resurgent electricity demand will require significant…

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Semiconductors: Industry in Transition

PDF Version Executive Summary Semiconductors are the foundation for all modern-day technology. Despite the pervasiveness of semiconductors in society, the industry remains esoteric. The sector’s products, complex manufacturing methods and intricate global supply chain are out of sight for most consumers. As a result, semiconductors have historically operated in the shadows of the technology world.…

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