Google’s Gemini 3 Means AI’s “Resource Grab” Phase Is On | Idea Farm

Google’s Gemini 3 Means AI’s “Resource Grab” Phase Is On

Bridgewater

Greg Jensen, Jas Sekhon

Research

9 Pages

December 2025

Bridgewater Associates uses Google Gemini 3 as evidence that artificial intelligence has entered a resource grab phase driven by compute, chips and power. Greg Jensen and Jas Sekhon argue that renewed success in scaling models has important consequences for capital spending, energy demand and macro volatility.

Date published: November 26, 2025

Key Takeaways

Resource grab framing: Defines the current phase as intense competition for data centers, specialized chips and electricity capacity.

Scaling signal: Interprets Gemini 3 as proof that larger models still deliver meaningful capability gains when compute is expanded.

Macro market link: Connects ongoing model scaling to investment cycles in infrastructure, potential inflation pressure and shifting equity leadership.

AI Global Macroeconomics

Join our newsletter to have all of this content + Exclusive Newsletter Bonus Content delivered to your inbox every week

Related Content

Global Macroeconomics

The Macro Implications of the AI Capex Boom

Feb 2026

Global Macroeconomics

Demand Shocks as Technology Shocks

Jan 2026

Currency

2026 Global FX Outlook: Different Dollar Downside

Jan 2026

The information contained in this communication is of a general nature for informational purposes only, and does not constitute financial, investment, tax or legal advice. The information contained within this communication reflects the opinions of those referenced herein, and do not reflect the opinions of The Idea Farm, L.P. and its affiliates. Such opinions expressed herein are as of the date of production and are subject to change at any time without notice due to various factors, including changing market conditions or tax laws. Where data or information prepared by third parties is presented, no representation, warranty, or undertaking, expressed or implied, is given to the accuracy or completeness of such information by The Idea Farm, L.P. or any other person. While such sources are believed to be reliable, The Idea Farm, L.P. does not assume any responsibility for the accuracy or completeness of such information and does not undertake any obligation to update the information contained herein as of any future date. Any links to third party websites are offered only for use at your own discretion. The Idea Farm L.P., and its affiliates, are separate and unaffiliated from any third parties listed herein and are not responsible for their products, services, policies or the content of their website. All investments are subject to varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy or product referenced directly or indirectly in this communication will be profitable, perform equally to any corresponding indicated historical performance level(s), or be suitable for your portfolio. Past performance is not an indicator of future results.