METV - Big Energy
2024-05-11 13:45:00 ET
Summary
- The narrative in the equity markets is that Big Oil has passed the reins to Big Tech. In a knowledge economy, compute is energy.
- Tech does not match global energy investment yet, but individually, Alphabet, Amazon, Meta, and Microsoft will spend more in CapEx this year than Exxon Mobil, Chevron, or Saudi Aramco.
- Big Tech’s profits are also historic, and growing.
- BigTech isn’t just similar to the energy business, it is the new energy business.AI’s growing power requirements make this concrete.
Einstein defined the 20th century with the revelation that mass is a form of energy. Today’s theoretical physics posits something more fundamental: Mass and energy are all information . The 21st century will be defined by the recognition that the most powerful form of energy is the manipulation of information: compute. The companies that control compute will be the most dominant businesses in history....
Big Energy