Tech giants and startups alike are trying new approaches to what has been a vexing problem

By commoditizing AI hardware, and allowing Nvidia’s customers to switch to more-efficient systems, the forces of competition might bend the curve of future AI power demand. “There is so much FOMO right now, but eventually, I think reason will catch up with reality,” Andrew Wee says, who has been a Silicon Valley data-center and hardware guy for 30 years.