BusinessCompute Demand Mirrors Oil's Historical Commodity Cycle
The demand for computing power is following a trajectory similar to oil's historical commodity cycle, moving from scarcity to futures markets and institutional allocation. Major tech companies plan massive capital expenditures, with Goldman Sachs projecting $1.6 trillion annual AI CapEx by 2031. This shift represents a strategic resource transition with geopolitical and economic implications, akin to past oil and rare earths markets.
The Nation·


