CIPHER
CIPHER

AI & EM capital flows — October 2025

Date: 01-10-2025

Filter-bubble risk: 9% (≤10%)

Summary

  • PPA pricing dispersion widens; sovereign support schemes diverge.
  • Cooling tech pivots in humid APAC sites; transport interfaces constrain buildout.
  • Tier-2 supplier consolidation introduces counterparty risk.

Actions

  1. Run PPA vs merchant sensitivity; hedge policy risk.
  2. Audit cooling options vs climate and water availability.
  3. Screen Tier-2/Tier-3 suppliers for financial resilience.

Sources & Evidence