Issue 24 of Works in Progress has now arrived with subscribers. Sign up here to receive this issue, plus another every two months – straight to your door. One of the most expensive projects in history is under construction in Abilene, Texas. This joint venture, Stargate, is the flagship of a bigger project by the same name led by OpenAI and Softbank, and is expected to cost well over $40 billion for a high-performance computing campus that will train new generations of AI models. Stargate is just one major project in one of the biggest investment booms in history, driven by the belief that increasingly powerful AI models can deliver explosive economic growth . But it will require enormous amounts of electricity to work: Stargate is expected to draw 1.2 gigawatts , as much as 313,000 median American family homes, at peak load. A report by EpochAI and an energy research institute projected that total AI computing power would reach 100 gigawatts worldwide in 2030 if the 2025 growth rate stays steady.…