October by D’Ornano + Co.: A deep dive into OpenAI’s economics, the looming infrastructure crisis, and AI’s emerging role in geopolitics.

This is our monthly newsletter dedicated to Tech x Investments.

Dear readers, 

As I send this newsletter, the question of the US election outcome is, of course, top of mind. After months of suspense, we will know today if we get our first woman president or a second Donald Trump term.  

Of course, the election will have a defining impact on the global AI race, with contrasting views on Biden’s executive order: will regulation be reinforced or loosened? On the other hand, AI has already had a significant impact on the U.S. elections, with AI deepfakes and scams being a top concern for election officials. As always, the actual impact will take weeks to unveil, but this election may be remembered not just for its outcome but as the moment when AI's influence on democracy - and democracy's influence on AI - became undeniable.  

In the meantime, recent earnings reports from Meta, Amazon, and Alphabet reveal an uncomfortable truth: The genAI revolution collides with physical reality, creating ever-increasing infrastructure needs (and asset-heavy balance sh…