@AnjneyMidha: Compute isn’t venture. It’s infra with venture demand curves and utility contract structures The right comp is 90s era …
Summary
An argument that compute should be viewed as infrastructure with venture-like demand curves and utility contract structures, drawing a parallel to 1990s independent power producers.
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Cached at: 05/19/26, 06:47 AM
Compute isn’t venture. It’s infra with venture demand curves and utility contract structures
The right comp is 90s era independent power producers, except the offtakers have stronger balance sheets and steeper demand than anything in energy history
Most investors will miss it
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