Venture capital sent a clear signal over the past 12 hours: investors are no longer paying simply for AI exposure. They’re paying for control of the bottlenecks AI cannot scale without. Compute capacity, electricity, enterprise data security, industry-specific workflows, autonomous machines, and proprietary data are drawing the strongest checks. Crusoe’s $3.9 billion Series F dominates the numbers, but beneath it is a more revealing group of Series A and B financings in geothermal power, cybersecurity, construction finance, lending automation, robotics, and personal AI. Across the ten rounds selected here, companies announced at least $4.372 billion in new capital. Crusoe alone accounts for…