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Chapter One · Infrastructure

The largest infrastructure bet
in human history.

In 2026, five American companies will spend more money building AI infrastructure than the United States spent, in today's dollars, putting men on the Moon — twice over. They will do this in one year.

Comparison · Inflation-adjusted to 2025 USD

One year of AI capex vs. every megaproject in American history.

Dot-com / Telecom Fiber1996–2001
$850B
Interstate Highways1956–1992
$640B
Apollo Program1961–1972
$309B
Marshall Plan1948–1952
$180B
Manhattan Project1942–1946
$33B
Panama Canal1904–1914
$12B
Transcontinental RR1863–1869
$2.5B
Hoover Dam1931–1936
$1B
Erie Canal1817–1825
$0.23B
Primary sources: SEC filings on EDGAR (10-Ks and earnings releases), Apollo Academy (Feb 22 2026), Goldman Sachs Research (Dec 18 2025), Morgan Stanley (Mar 11 2026), Planetary Society (Apollo Program total), Wilson Center (Panama Canal), Brookings Institution (Manhattan Project), CRS/FHWA (Interstate Highway System), LA Times / Richmond Fed (dot-com fiber).