In 2026, site readiness is a spectrum defined by power certainty, entitlement risk, delivery sequencing, and political exposure — all at once. This is now a board-level risk, not a site-selection footnote.

Announced fab investment isn't available supply. The gap between capital committed and capacity delivered — 36 to 60 months, plus a single-supplier bottleneck above the fab layer — is where the real planning risk sits.

Only 13% of interconnection requests filed 2000-2019 reached commercial operation by 2024. Withdrawal, not connection, is the modal outcome — and utility relationship management is now a core commercial capability.

Both the bulls and the bears in the AI ROI debate are answering the wrong question. The real fault line is organizational discipline, not which technology camp you're in.

The US isn't early in the EV transition — it's specifically stalled, on a policy trigger that's already fired. The relevant perimeter is North American, not American, and it's already open at the point of least resistance.

A 92% adoption rate sounds like the sector has arrived. The 7% impact number says it hasn't even started — and the barrier is governance, not access.

The formula that built the first billion is still fully intact in most stalled companies — it's just no longer the right formula, and most organizations have no mechanism for recognizing that in time.

61% of PE-backed companies have no formal AI strategy at acquisition. The swing factor isn't the technology or the budget — it's whether the thesis is sequenced before close, or improvised after.