AI, Batteries, China, Energy Transition, geopolitics, infrastructure, Manufacturing, technology
Wind and solar have grown from under 2% to 17% of global power generation in fifteen years. Electric vehicles are approaching 25% of new car sales globally. The cost curves are working and the physics is on our side, but the transition is being won in manufacturing terms by China. AI capabilities are real and consequential, with models now reasoning through complex problems. However, AI operates under constraints and cannot transcend the physical systems in which it must be embedded to create value. The true value lies in System Orchestration rather than generating text. China controls approximately 75% of global lithium-ion battery production, manufactures 90% of the world's neodymium magnets, and dominates solar panels, wind turbines, and grid equipment. China has become the first electrostate while the US remains the world's largest petrostate. China controls the Electric Stack including batteries, magnets, power electronics, and embedded compute. These four technologies show a composite 99% cost decline since 1990. The West's strategic advantage may lie in mastering molecular re-manufacturing and recycling. Power electronics and silicon carbide represent contestable leadership opportunities. Wolfspeed leads globally in silicon carbide substrates with 33.7% market share. The shift to SiC is early enough that leadership remains contestable despite Chinese dominance in other areas.
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name, total assets under management (AUM), invested value,
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of shares bought or sold and the percentage of outstanding shares
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helps investors and analysts monitor the stock positions of major
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large investors on individual stocks.
