The more AI infrastructure plans I read, the less this looks like a chip race and the more it looks like a construction race.
Models improve in months. Power plants, transformers, transmission lines and grid connections take years. A region with spare power and fast permitting may get to the next gigawatt before a famous AI hub does.
I think the next phase of the buildout will follow whoever can get electrons to the rack, not whoever can make the biggest capacity announcement.