The investment flows now visible in Japan are not a hedge against Middle East disruption — they are a replacement. The Chiba expansion and the broader pivot toward chip-heavy Asian markets [3] reflect a judgment that the Middle East AI infrastructure pipeline carries political risk that cannot be priced away. A commenter captured the structural consequence plainly: the arms-race logic of AI spending means costs get passed through, to consumers and to the planet . The reallocation is not a reaction to a single escalation event — it is the…