AI Infrastructure Is the New Oil. Portugal Is the New... Texas?

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Big Tech’s AI binge is starting to look like a manic addiction. Meta, Microsoft, Alphabet, and Amazon are pouring more than $400 billion into AI infrastructure this year, yet executives say it still isn’t enough. Nvidia’s Jensen Huang warned that China could “win the AI race,” while Bain Capital is steering clear of US data center investments altogether, calling the sector overheated.

Then the US government made it clear that there won’t be any AI bailouts after OpenAI’s CFO hinted at government stopgaps for huge AI infrastructure deals. Sam Altman (OpenAI CEO) made a Twitter post “clarifying” some things.

Portugal, meanwhile, is quietly cashing in. The country is transforming its sleepy port of Sines into a $10 billion data hub for Nvidia and Microsoft, positioning itself as Europe’s AI gateway. Investors chasing the next infrastructure boom might want to look beyond Silicon Valley and toward Lisbon’s coast.

AI infrastructure is the new oil field, and AI CEOs are the new kings. But when private equity starts walking away and global rivals are subsidizing power, investors may want to tread carefully before assuming the next trillion-dollar opportunity is still cheap.

After his time in politics, Elon returned to his companies in full force, and he just got approved for an almost $1T payment package from Tesla… which is the largest for any CEO EVER. There’s been a ton of drama about it. A lot of people criticized him (because of the sheer amount of money), but even more people supported the payday (because of what Musk has to achieve in order to receive it).

If Elon Musk wants to receive his payday of almost $1T in Tesla shares, he has to:

Obviously, if he achieves this, Tesla shareholders will be ROLLING in the dough. In fact, when it was put to a vote this week, 75% of TSLA holders said “yes” to the dress (the dress is “paying Elon lots of money”).

Next on Elon’s mind? Chips. He threw around some seriously interesting language regarding semiconductors at Tesla’s shareholder meeting yesterday, saying that building Tesla’s own “gigantic chip fab” might be the only answer to the question of “how do we make enough chips?” Nvidia, beware.

This episode of The Best One Yet unwraps Coca-Cola’s bold bet on AI Christmas ads (considering last year’s sentiment), a taser company that’s somehow uniting both sides of the political aisle, and the new electric airplane soaring over Wall Street.

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That’s all for today. Write us and let us know your thoughts on the market, the newsletter, or the weather—we’d just love to hear from you.

Till next time,
— Brandon and Blake