In the AI Gold Rush, What Are the Shovels?

Everyone is chasing the models. The better question is who sells the shovels. The AI gold rush is loud. The shovel sellers are quiet. They do not need the models to become conscious, replace humanity, or cure cancer. They just need them to keep needing more power, more memory, more cooling, more networking, more concrete, and more pipes to move the tokens. That is what Jensen Huang keeps mapping out every time he takes the stage. The obvious trade is NVIDIA. The more interesting trade may be the stack of co