The AI infrastructure race is ON. CapEx spend has never been greater. At the centre of it: Nebius. $66BN market cap. Going head-to-head with the largest hyperscalers on the planet. Leopold Aschenbrenner just made them one of his largest positions. I sat down with @nebiusai Co-Founder, @romanchernin and I’ve condensed my notes below: 1. How Reducing the Cost of Intelligence Increases Consumption Reducing the unit cost of intelligence triggers Jevons Paradox: total compute consumption rises…