Token computeInterstice Advisory
Constraint Builder
Norway Narvik 230 MW — Stargate (Nscale/Aker)
stableRegime I
Reference scenario — Clone to save changes
Why it bindsThe machine

Global AI demand backlog (SemiAnalysis Oct 2024: 3–5× current supply) fills site to 93% utilization. PPA at $22/MWh is below $30/MWh threshold — cost advantage sustains global customer acquisition. 12% pricing premium reflects GPU-scarce market clearing (CoreWeave H1 2025).

Balanced
Norway Narvik 230 MW — Stargate (Nscale/Aker)NO-1
Hardware

Balanced: hardware supply is binding — build-out trails demand, pricing window compressed.

Supply exceeds demand by 14.1×29% premium on binding hardware

Binding constraint

GPU availability limits total deployable compute

Capacity build-out trails demand growth, widening the supply-demand gap and compressing the pricing window.

Financial models assume 90–95% utilization. Real compound yield is 61–75%. That gap is the difference between 15% IRR and 8% IRR.

Near-binding risks

Timeline

18 percentage points below the binding threshold

Regime 1 — Balanced: Supply and demand are in structural balance. The facility can serve demand at target utilisation with positive margin across the planning horizon.

Regime 1 — Balanced. Binding: Hardware. Near-binding: Timeline.
0.0
PowerElectrical power availability and grid capacity.
0.0
ThermalHeat rejection capacity of the cooling system.
0.0
NetworkExternal bandwidth and path-diversity constraint.
0.7
HardwareGPU and accelerator supply constraint.
0.5
TimelineConstruction and commissioning schedule constraint.
0.0
LaborSkilled workforce availability for operations.
0.2
PermitsRegulatory and permitting approval constraint.
0.0
CapitalCommitted funding availability for the next expansion.
derivedgap metric & fill per node — engine-derived from registry assumptions