The next AI chokepoint: power, memory, storage, or cooling?
As artificial intelligence scales, the next constraint may not be chips, but the infrastructure around them. Power, memory, storage and cooling are emerging as the new battlegrounds of the AI economy.
Aako Ugbabe · 24 July 2026
The first wave of AI investing was relatively simple: buy the companies supplying the compute. Nvidia became the clearest winner, while memory and storage names such as Micron and SanDisk benefited as investors realised AI workloads require far more than just GPUs. The question now is where the next bottleneck appears.
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