As distributed model training scales to span hundreds of thousands of GPUs, scale-out networks face unprecedented performance and efficiency demands. NVIDIA Spectrum-X Ethernet has been designed from the ground up to achieve predictable and stable network performance with high utilization and low latency. This paper presents the Spectrum-X multiplane architecture, which replaces hierarchical depth with topological parallelism, and introduces hardware-accelerated load balancing in NICs and switches as the key architectural approach to provide fast reaction to highly dynamic network conditions at the microsecond timescales that AI training workloads demand. We describe the motivation, design principles, evaluation methodology and performance on state-of-the-art benchmarks, as well as the lessons we learned from deploying and debugging Spectrum-X networks in large-scale systems. Our evaluation highlights production-grade AI infrastructure performance across three core dimensions: 98% of the theoretical line rate with low jitter-free latency; strong cross-tenant isolation for concurrent workloads; robust, capacity-proportional bisection bandwidth and 7% latency increase for 10% fabric link failures; and rapid reaction to host and fabric link flaps during LLM training workloads.