Interconnect

The Interconnect Stack: Technical Companion

Where the market essay named the vendors and quantified the lead times, this piece explains the physics. Why voltage steps up, how a 400-tonne transformer moves 300 MW at 99% efficiency, why SF6 became standard and why it is being phased out.

1 August 2026 · 34 min read

Essay

The Interconnect Stack: Transformers, Switchgear and the Grid Equipment That Gates the AI Buildout

Grid interconnect is now the binding constraint on AI. Large power transformer lead times have doubled since 2023. Hyperscalers are building their own generation to escape 4-7 year utility queues. A layer-by-layer analysis from grain-oriented electrical steel to grid queue reform.

1 August 2026 · 44 min read