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 Capital Structure Maps #5 ：AI Data Center Infrastructure Map

  • Writer: Jenny LEE
    Jenny LEE
  • Mar 25
  • 1 min read

AI doesn’t scale in the cloud.

It scales in data centers.


Compute, networking, and storage only become usable when they are integrated into physical infrastructure.

Land → Power → Cooling → Servers → Connectivity

The real bottleneck is not just chips or bandwidth, but the ability to deploy and operate at scale.

Key layers:

Data Center REITs：$EQIX $DLR

Power & Electrical Systems ：$VRT $ETN $EIX

Cooling & Thermal ：$VRT $TT $JCI

Construction & Infrastructure： $PWR $EME $FIX

Connectivity & Integration ：$ANET $CSCO

Capital Structure Maps #5 AI Data Center Infrastructure Map
A structural map showing how data centers integrate power, cooling, compute, and connectivity to enable large-scale AI systems.

About This Series Capital Structure Maps is an ongoing research series examining the structural foundations behind major technology and industrial cycles. Each map outlines the constraint chains and capital pathways that connect infrastructure, semiconductors, energy systems, automation, and end-market applications. The goal is to provide a structural view of where capital must flow as new technologies scale into the real economy. A new map will be published weekly as part of the Equity Regime research framework.

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