Spent time with the inference numbers and one stat keeps coming back.

70% of AI inference in 2026 runs at the edge. Not in a hyperscale data center. Not on AWS. On industrial systems, autonomous equipment, and connected devices where the round trip to a cloud server is not a latency problem, it is a failure mode.
The $106 billion inference market is not growing because people are sending more "chat" queries to their AI. It is growing because AI is being embedded into physical infrastructure that runs continuously, operates in environments with no reliable network, and cannot afford to wait.
The hyperscaler buildout is real. The $725 billion in capex commitments is real. It is just aimed at the 30%.