Tech Flash Report

TECH FLASH - February 11, 2026

Big Tech Secures Tariff Exemptions While Bitcoin Miners Pivot to AI Infrastructure

TOP 3 STORIES:

1. Big Tech Poised for Tariff Carve-Out on AI Chips[1] — The US is weighing exemptions for AI chip imports as major technology companies lobby for favorable trade treatment. This development signals government recognition of AI infrastructure as critical national priority, potentially reshaping supply chain economics for semiconductor-dependent tech firms.

2. Bitcoin Miners Rebrand as AI Infrastructure Players[2] — Morgan Stanley initiated coverage of Bitcoin mining companies with a new valuation framework, viewing them as energy infrastructure assets rather than crypto plays. The pivot reflects industry reality: revenue per terahash has plummeted to $35 from $70 at Bitcoin's peak, driving companies like Bitfarms (rebranding to Keel Infrastructure) and Hut 8 to convert operations into AI data centers, with Morgan Stanley predicting a 74-gigawatt power demand surge by 2028.

3. Pharma Giants Accelerate AI Deployment Across Operations[5] — Eli Lilly committed up to $1 billion with NVIDIA for drug discovery AI, while Pfizer plans to add 1,200+ GPUs across data centers. The shift reveals AI's real near-term value lies in operational efficiency—from manufacturing to legal—rather than headline-grabbing drug discovery breakthroughs.

Flash Insight: The convergence of tariff protection, infrastructure repurposing, and enterprise AI adoption signals a maturing AI economy moving beyond hype into structural integration. Bitcoin miners pivoting to data center operators represents the market's ruthless capital reallocation toward genuine power infrastructure needs. For tech professionals and investors, this moment marks the transition from AI experimentation to mission-critical infrastructure—those positioned in energy, semiconductors, and enterprise deployment will capture disproportionate value.