Kyle WisniewskiAI, Power, and Strategic Infrastructure
Analysis of AI electricity demand, U.S. grid constraints, U.S.–China competition, and the investment risks across power infrastructure.
Read report →Kyle Wisniewski · Independent research
AI Equity Research
Analysis of AI’s impact on company revenue, costs, capital spending, valuation, and the economy.
Latest research
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Research sectors
Power & Infrastructure
AI electricity demand, grid capacity, data-center construction, and spending on power equipment.
Research questions
How does AI electricity demand affect utility and equipment-company earnings?
- Which orders are funded, and which remain contingent on permits or connections?
- Who carries the cost of delays, cancellations, and capacity expansion?
- How much demand is attributable to AI rather than the wider electricity market?
Financial variables
Backlog conversion, capital spending, working capital, and returns on invested capital.
Sources
- Utility filings and capital plans
- Supplier backlog definitions and delivery schedules
- Project milestones and interconnection records
Announced capacity is not delivered capacity. Grid investment is not automatically AI revenue.
Semiconductors & Computing
AI processors, memory, networking, cloud capacity, and the cost of running AI models.
Research questions
How do AI spending and chip demand affect supplier revenue, margins, and returns?
- Do customer capital plans reconcile with supplier shipments and capacity?
- How do utilization, useful asset life, and inference pricing affect returns?
- Does improved efficiency expand demand or weaken pricing power?
Financial variables
Unit economics, utilization, product mix, depreciation, and free cash flow.
Sources
- Segment disclosures and capital expenditure
- Customer and supplier financial statements
- Documented benchmarks with comparable workloads
A technical benchmark does not establish a durable commercial advantage.
Medicine & Healthcare
AI in drug development, diagnostics, clinical workflows, and healthcare delivery.
Research questions
How does AI affect drug-development costs, healthcare revenue, and clinical workflows?
- What evidence separates a promising demonstration from validated clinical use?
- Who pays for adoption, and who retains the resulting savings?
- How do procurement, reimbursement, and development timelines change the economics?
Financial variables
Adoption, revenue per deployment, implementation cost, development expense, and financing needs.
Sources
- Trial registries and original study results
- Regulatory decisions and payment policies
- Company filings and disclosed commercial contracts
Clinical performance, regulatory clearance, and commercial viability are separate questions.
Aerospace & Industrials
AI in aerospace, manufacturing, robotics, autonomous systems, and maintenance.
Research questions
How does AI affect aerospace production, automation costs, and service revenue?
- Which capabilities have moved from pilots into contracted deployment?
- How do qualification, safety requirements, and procurement shape the timeline?
- Do installation and maintenance costs offset the promised productivity gains?
Financial variables
Order conversion, production yield, deployment cost, recurring service revenue, and margins.
Sources
- Contract awards and procurement records
- Certification and deployment milestones
- Segment margins, service revenue, and capital requirements
A prototype, contract ceiling, or announced partnership does not establish recognized revenue.
Software & Employment
Enterprise AI adoption, software pricing, workflow automation, productivity, and employment.
Research questions
How does AI change software pricing, business costs, and demand for labor?
- Are customers expanding paid usage or substituting existing spending?
- Does pricing reflect seats, usage, outcomes, or a mix of the three?
- Do productivity gains accrue to suppliers, customers, workers, or competitors?
Financial variables
Retention, revenue per customer, inference costs, sales efficiency, and operating leverage.
Sources
- Pricing disclosures and product terms
- Retention, usage, and segment results
- Measured workflow studies and labor statistics
Time saved in an experiment does not automatically become realized earnings growth.
Methodology
The research examines how AI affects company earnings, industry investment, and the economy. Reports cite original sources, distinguish reported facts from forecasts, and state the assumptions and risks behind the conclusions. Company valuations explain the method and inputs used. Updates and corrections are dated and explain what changed. Kyle publishes this research independently; it does not represent his employer or university and is not personalized investment advice.
Independent research by Kyle Wisniewski. For information and education; not personalized investment advice.