Everyone talks about models. Far less attention is paid to where AI actually runs. And while the first generation of cloud computing centralized technology, AI may be pushing in the opposite direction. As governments, industries, and enterprises seek greater control and transparency over their data and digital infrastructure, new questions are emerging about where AI should be built, deployed, and governed. What will the geography of intelligence look like over the next decade? Who will build the systems it depends on? And how will companies ensure AI delivers value to businesses and governments ?