Research · Max Fraunhofer

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Research & analysis

Data-driven deep dives on AI infrastructure, product management, and building software companies. No marketing, no bullshit forecasts.

All articles 2 articles
2026-05-26
Deep Dive

The AI boom hangs on three companies. One of them sits in Oberkochen.

TSMC makes 92% of all leading-edge chips, ASML has a 100% EUV monopoly, ZEISS delivers the mirrors exclusively. If TSMC drops out, year one costs the world economy $5 to $10.6 trillion — twice the weight of COVID. Why the system holds anyway, and what to take from that for your own decisions.

18 min read Semiconductors · Geopolitics · Risk
2026-05-18
Deep Dive

AI datacenters: the most expensive bet in history — and why you still win

I pay $20 a month for Claude. What does it actually cost Anthropic? A data-driven deep dive into AI infrastructure, investment bubbles, and why the end user wins anyway — with verified research from earnings calls, Stanford HAI, and the IEA.

15 min read AI · Infrastructure · Economics