AGI Industrial ChainThe 9-layer industrial stack behind AGI: 134 GW of power, $20B chip fabs, $650B+ annual capex. A layer-by-layer breakdown of who wins and what breaks.AI IPO Race 2026OpenAI at $300B, Anthropic at $61.5B, xAI at $80B - current valuations, revenue, funding rounds, and IPO timelines compared. Updated March 2026.AI Valuation GapA technical analysis of the $2.9 trillion capex wall and the structural rotation from hardware 'Enablers' to software 'Industrializers', and why the market is mispricing the terminal value of AGI.