AI Infrastructure State Monitor | Nov 2 2026 | Permitting Bottleneck, Divergent Orders and Cash

English overview — the complete original report is in Chinese, not fully translated here. Report date: November 2, 2026 (Asia/Shanghai). State STRESSED (86% confidence), unchanged. A new Reuters report dated Nov 1 UTC/Nov 2 Australia confirms Energy North's proposed 1GW Project Ares has dropped its indicative June 28, 2028 first-power date because the environmental regulator suspended its normal assessment-setting deadline. This is a permitting/deployment milestone deterioration, not evidence of cancelled hardware orders or lost operating revenue. Prior official results still show AWS revenue growth of 39% (Amazon, Oct 29), Alphabet Cloud growth of 103% and commercial TPU systems sales (Oct 28), and Vertiv organic orders growth above 100% alongside positive operating cash flow (Oct 28). The core discrepancy remains between announced capacity and credible, energized, billable capacity. Falsification requires sustained, independent deterioration across deployment/demand and supplier orders/financial quality. Full Chinese original: https://argusx.fun/research/ai-infrastructure/2026-11-02/daily/ . Public references are supplied in the sources array and the original Chinese report.