Power, Not Chips, Is the Constraint

Power, Not Chips, Is the Constraint

From Digital Currents by Morgan Creek Capital Management, LLC

February 27, 2026 · 60 min

About this episode

This episode discusses quarterly results from major tech companies and explores the implications of AI infrastructure on global data-center demand.

In this week's Roundup, we start with a discussion on Figure's and Nvidia's quarterly results, choppy digital asset markets, Circle's 45% post-earnings move, and cost reductions at Block. From there, we zoom out to the AI and compute stack , i ncluding Anthropic's stance on AI safeguards and a potentially landmark 6-gigawatt AI infrastructure deal between AMD and Meta. We close with our Chart of the Week, Why Inference Workloads Could Account for as Much as 40% of Global Data-Center Demand by 2030 , and what this may mean for investors. Remember to Stay Current! To learn more, visit us on the web at https://www.morgancreekcap.com/morgan-creek-digital/ . To speak to a team member or sign up for additional content, please email mcdigital@morgancreekcap.com Legal Disclaimer This podcast is for informational purposes only and should not be construed as investment advice or a solicitation for the sale of any security, advisory, or other service. Investments related to the themes and ideas discussed may be owned by funds managed by the host and podcast guests. Any conflicts mentioned by the host are subject to change. Listeners should consult their personal financial advisors before…

People in this episode

Host: Morgan Creek Capital Management, LLC

Topics covered

  • AI infrastructure
  • digital asset markets
  • quarterly results
  • data-center demand
  • cost reductions
  • AI safeguards

Keywords

  • AI
  • infrastructure
  • digital assets
  • data centers
  • investing
  • Nvidia
  • AMD
  • Meta
  • Circle
  • Block

Mentioned in this episode

Organizations: Figure, Nvidia, Circle, Block, Anthropic, AMD, Meta

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