Everyone talks about AI models.
Almost nobody talks about the pipes.
That's strange because history says the pipes always matter more.
The biggest fortunes weren't built on websites. They were built on railroads, electricity grids, telecom networks, and cloud infrastructure. The layer underneath quietly captures everything above it.
AI is repeating the pattern.
While people debate which model is smartest, a much bigger question is forming:
Who owns the machines that intelligence depends on...