Today's episode examines the intensifying collision between unbounded AI expansion and the physical limits of the global energy grid, from the rise of space-based data centers to the inflationary pressures of massive hardware CapEx. We analyze how the shift toward agentic AI and orbital infrastructure is reshaping global trade, energy security, and the fundamental calculus of central bank policy.

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0:00 - Introduction
0:35 - The AI Arms Race and Infrastructure Boom
9:49 - Macro Shifts and the Inflation Ghost
14:44 - The Energy Nexus and Geopolitical Friction
17:40 - Global Market Divergence and Structural Shifts
21:06 - Conclusion

Referenced sources:
AI Market Worth $26.5 Trillion According to SpaceX (AI Insights: AI News, Eyewitness Accounts)
SpaceX's $2T Case, Nvidia's Shock Selloff, America Turns on AI, Trump Pulls AI Order, Bond Crisis (All-In with Chamath, Jason, Sacks & Friedberg)
Global FX Broader impacts from the dollar bid (At Any Rate)
Daybreak Weekend US PCE, Iceland Eco Conference, Australia CPI (Bloomberg Daybreak: Asia Edition)
A $50 Trillion Problem, Poland Troops U-Turn, Ebola Aid Cuts Impact (Bloomberg Daybreak: Europe Edition)
Estée Lauder and Puig End Merger Talks (Bloomberg Intelligence)
Single Best Idea with Tom Keene Brian Levitt & Dan Ives (Bloomberg Surveillance)
Equities Face Best Rally since 2023 (Bloomberg Surveillance)
Reiner Pope - Chip design from the bottom up (Dwarkesh Podcast)
The Single Biggest Barrier to AI Adoption Isn't the Technology - It's This Errol Gardner of EY (Eye On A.I.)
State of Distressed Mudrick on the Post-LME Maturity Wall (FICC Focus)
Global Data Pod Weekender Wobble, wobble (Global Data Pod)
Our Field Trip to Google IO + A Sit-Down With Sundar Pichai + System Update (Hard Fork)
Ep. 359 Dylan Smith on the Hormuz Supply Shock, US Macro Regimes, and Private Market Evolution (Macro Hive Conversations With Bilal Hafeez)
Markets Happy Hour Podcast - May 22, 2026 - Ships Passing in the Night (Markets Happy Hour Podcast with Aoifinn Devitt)
The Future of Automation and AI with Honeywell CEO Vimal Kapur (Masters in Business)
'The Assassin' Fahmi Quadir on How to Survive as a Short-Seller (Odd Lots)
James Murdoch & Vox Media, SpaceX IPO Predictions, and Bezos Gets Defensive (Pivot)
AI's New Acceleration Phase (The AI Daily Brief: Artificial Intelligence News and Analysis)
SpaceX Pitches $26.5T AI Market, OpenAI Hires Crisis Vet (The AI Podcast)
The Inflation Ghost, Gold and Options (The Macro Trading Floor)
Meb Faber Warren Buffett Didn't Follow His Own Advice #631 (The Meb Faber Show - Better Investing)
Hugging Face's Clem Delangue on Open Source AI and the LLM Bubble MTS Live (The a16z Show)
The New Japan Trade (Thoughts on the Market)
UBS On-Air Paul Donovan Daily Audio 'Sense or sentimentality' (UBS On-Air: Market Moves)

This episode is independent commentary and is not affiliated with, sponsored by, or endorsed by the sources listed above.