India, Nov. 6 -- Opening thoughts. Microsoft CEO Satya Nadella says that the AI industry's problem isn't lack of compute or excess of compute, but the fact that there isn't enough power available to plug in all the hardware they have. He mentioned this in a podcast recently, of which OpenAI's Sam Altman was also part (and in an uncharacteristically defensive mood when asked about revenue versus spend commitments). Here are a few takeaways from this. First, if Microsoft has racks of Nvidia's H100 GPU sitting idle because the power infrastructure simply doesn't exist, they've clearly enthusiastically ordered too many chips. Secondly, these aren't exactly "investments" when they're sitting around gathering dust; so much for the over-enthusia...