I've read that the build out of this current wave of AI infra is going to be about $700 billion [0]

I don't have the math behind that number, but it sounds somewhat in-line with what we know the market to be. You have a few companies seeking trillion+-dollar valuations at IPO, and the spends from established players make that number sound plausible.

Given that the infra costs are going to remain stubbornly high for the coming 3-5 year period you specified, I don't know that even $200 billion is really that much in the grand scheme of things. If things keep going at more-or-less the same pace they have been with advances, and SV pulls their heads out of their asses about getting data centers built out, maybe.

[0] https://fortune.com/2026/10/10/big-tech-bill-miller-wellsky-...