US Thematics | North America One of our predictions for the year was the convergence of power and AI, and this direction is becoming clearer in the AI Infrastructure innovation economy. As AI capex supports technologies from clean energy to semiconductors, new business models are emerging around the coordination of increasingly complex infrastructure. AI neoclouds offer an early example: many gained rapid market validation by pairing access to constrained resources such as power and compute with the ability ...

While startups from clean tech to semiconductors are benefitting from AI capex, we see interesting business models emerging that increasingly view data centers as integrated AI factory systems that require coordination of everything from power to data movement orchestration. M US Thematics | North America October 9, 2026 04:01 AM GMT M Foundation Venture Vision: Data Center to AI Factory Key Takeaways We see a broadening opportunity set for startups that address various bottlenecks and/or attempt to future- ...