AI as Infrastructure: Why the Next Unicorns Will Be Built on Invisible Intelligence
#27: Who will control and benefit most from the invisible infrastructure of AI — and what are the systemic risks of concentrating that power? (4 minutes)
Andrew Ng famously likened AI to electricity—a general‑purpose technology that transforms every industry it touches. Just as electricity became a foundational layer for modern society, AI is now embedding itself into the core infrastructure of our digital world. This shift means AI is no longer just a product feature; it’s becoming the unseen engine driving innovation across sectors. In the context of digital transformation, that engine shapes how companies reimagine their processes, products and decision‑making. Crafting an intentional AI strategy is therefore critical for any firm seeking to build durable advantage in this new landscape.
Startup models: building on top vs. building underneath
Founders are reimagining their models to align with AI’s infrastructural role:
Infrastructure providers. Companies like CoreWeave have rapidly scaled to meet the demand for AI computing power. With a valuation of $19 billion and 32 data centers housing 250,000 GPUs, CoreWeave exemplifies how providing the “pipes” for AI can be a lucrative business. Their entire AI strategy is to make themselves indispensable to others’ digital transformation efforts.
Platform builders. Startups such as Windsurf (formerly Codeium) are creating platforms that enable developers to integrate AI seamlessly into their products. Windsurf’s strategy of regularly reinventing its platform has attracted over $200 million in funding and a valuation of $1.25 billion. They’re not selling code; they’re selling acceleration, allowing other builders to fast‑track their own digital transformation.
Application innovators. Companies like Duolingo are embedding AI into their applications, automating content creation and enhancing user experiences. This approach allows for rapid scaling with minimal human intervention. It demonstrates how a clear AI strategy—focusing on infrastructure as much as features—can amplify an app’s impact.
Value capture: where’s the leverage?
The AI infrastructure market is experiencing exponential growth:
Market size. Valued at $60.23 billion in 2025, it’s projected to reach approximately $499.33 billion by 2034.
Venture capital investment. In 2024, AI startups attracted $131.5 billion in global VC funding, marking a 52 % increase from the previous year.
The leverage lies in owning the layers that others build upon—be it data centers, APIs or foundational models. Companies that establish themselves as indispensable components of the AI ecosystem are poised to capture significant value. For leaders, that means aligning their digital transformation agenda with an AI strategy that focuses less on flashy demos and more on building or controlling critical infrastructure.
Systems thinking: AI as a systemic force
Integrating AI into infrastructure brings systemic considerations:
Energy consumption. AI data centers are energy‑intensive. For instance, a single ChatGPT query consumes approximately 2.9 watt‑hours, ten times more than a typical Google search. As firms pursue digital transformation, the sustainability implications of their AI strategy become impossible to ignore.
Operational risks. Dependence on AI systems introduces risks of cascading failures, especially if these systems are not transparent or well‑understood. Systems thinking requires leaders to view AI not as an isolated tool but as part of a complex socio‑technical system.
Ethical considerations. As AI becomes more embedded, questions around accountability, bias and decision‑making transparency become increasingly critical. A responsible AI strategy must grapple with these issues even as it drives digital transformation.
SaaS evolution: from tools to autonomous systems
Software‑as‑a‑Service is evolving:
AI‑enhanced tools. Traditional SaaS applications are integrating AI to enhance functionalities, such as predictive analytics and personalised recommendations. This is often the first step in an organisation’s digital transformation journey.
AI‑native platforms. Emerging platforms are built with AI at their core, offering autonomous decision‑making capabilities and adapting in real time to user needs. This evolution signifies a shift from software that assists to software that acts, leading to increased efficiency and entirely new business models. The winners will be those whose AI strategy goes beyond bolt‑ons to true, infrastructural integration.
Venture capital: betting on the invisible
Investors are increasingly putting their money into AI infrastructure:
Mega investments. The “Stargate” initiative, a $500 billion investment by OpenAI, Oracle and SoftBank, aims to build extensive AI infrastructure in the U.S.
European ambitions. France has unveiled plans for €109 billion in AI investments, focusing on infrastructure to bolster Europe’s position in the AI race.
These investments highlight a strategic focus on the foundational elements of AI, recognising that the next wave of digital transformation will be built upon these invisible layers.
Perspective: navigating the invisible future
As AI becomes the backbone of technological advancement, the focus shifts from visible applications to the invisible infrastructure that powers them. Startups and investors aiming to lead in this space must prioritise building robust, scalable and ethical AI foundations.
The true unicorns of the AI era will be those who master the art of making intelligence an unseen yet indispensable part of our daily lives—an art that requires a deliberate AI strategy aligned with broader digital transformation goals.
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About: Alex Michael Pawlowski is an advisor, investor and author who writes about topics around technology and international business.
For contact, collaboration or business inquiries please get in touch via lxpwsk1@gmail.com.
Source:
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[3] Precedence Research. (2024). Artificial Intelligence Infrastructure Market (2024 to 2034). https://www.precedenceresearch.com/artificial-intelligence-infrastructure-market
[4] Business Insider. (2025, April). AI startups like Windsurf are rebuilding themselves to stay ahead. https://www.businessinsider.com/ai-startups-rebuild-products-windsurf-ceo-varun-mohan-2025-4
[5] The Times. (2024, March 20). When will AI bring us a billion-dollar start-up with a single worker? https://www.thetimes.co.uk/article/when-will-ai-bring-us-a-billion-dollar-start-up-with-a-single-worker-qm90tf5m5
[6] Wikipedia contributors. (2024). CoreWeave. Wikipedia. https://en.wikipedia.org/wiki/CoreWeave
[7] Associated Press. (2024, April 2). SoftBank, OpenAI, Oracle eye $500 billion Stargate AI infrastructure project. https://apnews.com/article/be261f8a8ee07a0623d4170397348c41
[8] Financial Times. (2024, March 28). France leads €109bn AI push in bid to catch up with US and China. https://www.ft.com/content/fc6a2d7a-5ed6-436e-84a5-dda86fc258d3