I sometimes wonder if this is the real reason for the AI bubble. Major cloud providers are trying to front-load their computing purchases in case geopolitical trouble makes it impossible to get computers. At cloud scale, that's billions of dollars in new investment. So they kick off a new computing paradigm, hype it up, and now their cost of capital for this new investment is significantly lower because they can sell it as getting a piece of future revenues. Basically just a way to make shareholders pay for geopolitical hedging.