The AI gold rush: infrastructure, chips and the race to scale

Talking Research - Walter Scott • December 12, 2025 • Solo Episode

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What does AI look like on the ground in California? Fresh from a week on the US West Coast, Investment Manager Tom Miedema shares what he heard in boardrooms and labs – from data centre build‑outs and custom chips to the realities of software adoption and monetisation. This episode cuts through the hype to explore who is likely to win, where supply chains are straining, and why some AI milestones may be further away than headlines suggest. Higher margin, lower risk – why we like/there’s...

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