Resource ledgers
Ten markets. Four grades. No vibes.
Each ledger states the common mechanism, who could pay, the binding supply constraint, the strongest caveat and the evidence that would change the grade.
Memory (DRAM & HBM)
AI memory is directly tightening the broader DRAM supply envelope.
Open evidence →Storage (NAND & SSDs)
Storage prices have turned sharply, but AI is not the only buyer in the queue.
Open evidence →Transformers & Switchgear
Data centers add demand to a transformer shortage they did not create.
Open evidence →Gas Turbines
AI is reserving generation equipment inside a much broader power-build cycle.
Open evidence →Electricians & Skilled Trades
A real labor constraint, without a clean national AI wage effect yet.
Open evidence →Construction Inputs
Local competition is credible; a national materials story is not established.
Open evidence →Electricity
Data centers are a major new load. Your bill is still a local rate-design question.
Open evidence →Water
Water use is real and intensely site-specific; prompt-level slogans are not measurements.
Open evidence →Interconnection Queue
AI did not create the five-year generation queue, but it is forcing a separate large-load reckoning.
Open evidence →Capital Markets
The crowding-out story is plausible—and especially vulnerable to motivated reasoning.
Open evidence →