The Physical Layer

AI and energy infrastructure, explained plainly.

Companies

Microsoft

On the map: Power on site · Who runs the capacity · Cooling

Named in 3 pieces. Each entry below is that piece's own description of what the company makes, from its exposure map.

  1. The buyers

    Microsoft, Google and Meta run AI data centres on long nuclear contracts.

    Nuclear power for AI comes from old reactors first. The new ones wait on fuel. · 29 September 2026

  2. The tenants

    Oracle runs Abilene's cloud and OpenAI uses it. Microsoft, Meta and Jane Street rent capacity; Jane Street also runs its own.

    Contracted, energised, running: how Abilene, Nebius and Jane Street's AI capacity really arrives · 25 September 2026

  3. The halls that choose

    Microsoft, Google, Meta, Amazon and Jane Street run data centres, filled with chips Nvidia and AMD design.

    Heat and water decide where AI goes: liquid to the chip, a choice on the roof · 21 August 2026

This maps who operates in each layer. It is not a recommendation, and naming a company is not a view on its shares. Personal research, not investment advice.