Electricity, not chips, may decide how fast AI grows.

What matters most is not the headline number, but how steady it stays over time.

The numbers are still small next to the size of the whole industry, but they are growing fast.

What to watch

• How fast others follow.
• What it does to prices.
• Who gains and who loses ground.

The next few months will show whether this holds up outside of test conditions.

The change did not happen overnight. It built up over several quarters, one small step at a time.

Not everyone agrees. Some point out that early results often look better than what comes later.