If you thought the Iran conflict was just about oil prices, think again. This week, a spokesman from Iran's Khatam al-Anbiya Headquarters issued what can only be described as a direct threat to the biggest infrastructure bet in American tech history.

"Nothing is hidden from our sight. All ICT companies in the region will be considered legitimate targets for us," the spokesman said.

Translation: Stargate - the $100 billion AI data center project backed by Donald Trump, OpenAI, SoftBank, and Oracle - is now in Iran's crosshairs. And if you're wondering whether this is just bluster, consider this: the facilities are being built in the Middle East, well within range of Iranian missile systems that have already proven their accuracy in recent strikes.

Here's what Wall Street isn't telling you: The entire AI infrastructure boom is built on a premise that data centers can be safely distributed across the globe. Saudi Arabia, the UAE, and other Gulf states have been competing to host these facilities with tax breaks and cheap energy. But cheap energy doesn't mean much when your $50 billion data center can be reduced to rubble in a single night.

The Stargate project isn't just a vanity project - it's supposed to be the backbone of America's AI dominance. Microsoft, NVIDIA, and virtually every major tech company has invested billions into the assumption that these facilities will operate without interruption. But as one Reddit user who flagged this threat pointed out, "if the strait stays closed, the supply chain for chips is toast."

And they're right. It's not just about one data center. The entire semiconductor supply chain - the chips that power AI, the cooling systems, the networking equipment - flows through the Strait of Hormuz. Iran has effectively put a gun to the head of the entire AI boom.

If you're long on AI infrastructure plays like , which is down 50% from its peak despite going all-in on Stargate, this is your wake-up call. The narrative ignores one inconvenient truth: these data centers need physical security, stable supply chains, and geopolitical calm. Right now, we have none of those things.