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Hardware and infrastructure quietly stole a lot of attention. Data center design, interconnect speeds, energy efficiency, and packaging techniques came up again and again, often framed as the real bottleneck to the AI era rather than software itself. You could feel a shift toward physical constraints shaping digital ambition. Startups pitching “lightweight” solutions emphasized watts and heat almost as much as algorithms, while incumbents leaned into reliability, supply chains, and the ability to deliver at volume. Somewhere between a rack diagram and a slide about geopolitical risk, the room usually went silent in that way that means people are recalculating assumptions.