Sizemore Investment Letter

Sizemore Investment Letter

From Infrastructure to Adopters: The Next Phase of the AI Boom

Charles Sizemore's avatar
Charles Sizemore
Feb 04, 2026
∙ Paid

Back in October, I shared research from Kai Wu, founder of Sparkline Capital, that pointed out the Achilles heel of the AI Boom. The builders of AI infrastructure — everything from the data centers to the core large language models themselves — were deviating from their capital-light, high-margin software and services businesses and pivoting to what is …

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