MORaine RESEARCH / 03

FIELD NOTE 03 / ARTIFICIAL INTELLIGENCE

Markets move before consensus catches up.

Moraine maps the quiet inflection points shaping the next decade of venture. This curve tracks the infrastructure layer beneath the AI economy.

UPDATED 18 JUN 2025 8 QUARTERS / 1 SIGNAL
AI infrastructure market value curve A single rising market-value curve from early 2024 through late 2025, with a highlighted AI infrastructure sector marker. Q1 ’24 Q2 ’24 Q3 ’24 Q4 ’24 Q1 ’25 Q2 ’25 Q3 ’25 Q4 ’25 MARKET VALUE / USD $18.4B AI infrastructure · 2031