a16z: of every $100 in the AI buildout, about $50 goes to chips

Andreessen Horowitz’s State of Markets II breaks down AI infrastructure spend: roughly $50 of every $100 to chips, $20 to power, $15 to networking, and $15 to cooling, buildings, and land. The firm argues the datacenter buildout has passed railroads as a share of GDP while end-demand diffusion is still early.