private capital is building the next layer

msft, goog, meta, & amazon are on track to spend ~$700b on ai infrastructure in 2026.

this kinda spending usually happens via govts or wars whereas this time, it’s four companies racing to build the foundational mechanics of agi.

kinda insane that the next layer of civilization is being ~entirely privately financed before most govts even understand what’s being built. has this ever happened before?!