Investor Shares Sankey Diagram of AI Capex Flows

Shanu Mathew posted on X about a Sankey diagram prepared by BNP Paribas Equity Research. The diagram tracks allocation of $100 in AI capital expenditure toward chips and power infrastructure. Mathew noted the source after correcting an earlier reference to Bernstein in a prior version of the post. The diagram is presented as a visual breakdown useful to those focused on power systems and data centers. No further details on the specific allocations appear in the post. The tweet stands as a share of the research graphic with a short commentary on its appeal to power specialists.