Peter Smith
⬤ A new class of billionaires is emerging from the AI infrastructure buildout, with 16 individuals reaching ten-figure wealth through companies like CoreWeave, QTS, and Groq. These aren't software developers or chatbot makers—they're the people supplying data centers, chips, power systems, and cooling technology that keep AI running at scale.
⬤ The wealth surge reflects where capital is actually flowing in the AI race: into compute capacity. These companies design and operate high-density data centers, deliver performance chips, lock down massive power allocations, and build specialized cooling for AI workloads. Hardware and infrastructure builders are now generating more value than their software counterparts—a significant shift in the tech wealth landscape.
⬤ Demand for compute has become the biggest bottleneck in AI development, and that's driving the money. CoreWeave scaled fast as cloud providers scrambled for GPU capacity. QTS expanded its data center footprint to meet surging leasing demand from AI training operations. Groq capitalized on the push for specialized processing chips. The economic center of gravity in AI has moved decisively toward infrastructure—toward those controlling megawatts, chips, racks, and industrial-scale facilities that power every major AI model.
Peter Smith
