The Hidden Supply Podcast explores the constraints shaping AI infrastructure: compute, energy, capital, data centers, and the production systems needed to make AI work in production.
In our first episode, Why AI Factories Are Bleeding Money, NeuReality CEO Moshe Tanach sits down with Varana Capital CIO Ezra Gardner to unpack the economic reality behind the AI infrastructure boom. Demand is growing fast, but GPUs, power, space, and capital are finite. The result is a market where buying more capacity is no longer enough.
They discuss why installed GPUs do not automatically translate into usable AI supply, why GPU utilization has become a business issue, and why AI changes the software economics that defined the SaaS era. The conversation moves from energy scarcity and data center buildouts to heterogeneous compute, open models, inference as a service, and the operating layer needed to turn expensive infrastructure into efficient production inference.
