AI needs customers more than chips

The current narrative surrounding artificial intelligence emphasizes a provider arms race, with Nvidia's performance becoming a macroeconomic indicator and data centers evolving into strategic assets. Control over compute, capital, and foundational models has been framed as the key to future dominance. However, the underlying reality suggests that the AI sector's ultimate success hinges not just on technological advancements and infrastructure, but critically on acquiring a substantial customer base to drive demand and adoption.