In November 2023, OpenAI CEO Sam Altman temporarily suspended new customer signups for ChatGPT after the platform reached 100 million weekly active users within its first year. This surge in demand outpaced the company’s GPU capacity, leading to the first significant bottleneck in the AI boom, as hardware supply, particularly GPUs, was insufficient to meet the growing need.
Nvidia and Broadcom emerged as key players in addressing this compute and networking bottleneck, respectively. Nvidia’s GPUs became essential for AI training, with their high-demand H100 cards peaking at around $40,000, contributing to a nearly 1,000% rise in the company’s stock price. Similarly, Broadcom’s networking semiconductors supported data transfer in expansive data centers, driving its stock up approximately 600%.
As the industry evolves, new bottlenecks related to materials and infrastructure are anticipated to arise, with key earnings reports expected on April 24, 2026, potentially highlighting these constraints. An online presentation titled “FutureProof 2026” on March 18, 2026, will explore these emerging challenges and investment opportunities.
