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Micron's Sanjay Mehrotra on memory: "Memory is no longer a component in a system, memory is the strategic infrastructure for AI. It is no longer a commodity, it is a high value. Without memory, you cannot make AI smarter, cannot make it faster, you cannot scale up AI...AI is driving a whole hierarchy of memory requirements from HBM to DRAM to SSDs." Via CNBC $MU $DRAM $EWY $SNDK
P Equity Research 📰48,157 views • 7 days ago
Chamath Palihapitiya Chamath Palihapitiya is more bullish on Google's $GOOGL CapEx spending: "Do you know what Google's 25 year average ROIC has been since going public? 32%. When you are a machine that compounds money at 32% over a 20 year average, you give these guys benefit of a doubt. These are not guys flying fast and loose, they are methodically investing in their edge. They are going to get massively rewarded...the best thing that can happen to them is 500 different models proliferate and they support all of them. They will make so much money at the silicon layer and as the cloud provider." Via The All-In Podcast
P Equity Research 📰206,573 views • 1 month ago
Nvidia $NVDA CEO, Jensen Huang, on if the semiconductor industry is due for a bust: "No, not for a while. This time is different because this is not demand driven, it is not seasonal...meaning seasonal demand driven. This is industrially driven, meaning the fundamental technology of computers is changing. We need a whole new layer of infrastructure in the world. We have energy, internet, roads, railroads, we now need the intelligence layer built on top of all of that and this layer needs chips. I believe we need our semiconductor industry to be somewhere between 5-10x larger than it is over the course of the next 10 years. It is way too small today, which is the reason why memory is in such shortage, storage is in such shortage, optical interconnects are short, packaging is short, and TSMC foundry chips are short. Everything is in such short supply because it is not a cyclical nature. It is fundamental infrastructure related. The whole industry is short." According to the WSTS, the semiconductor industry is projected to be $1.5 trillion in 2026. 5-10x larger puts it at $7.5 trillion to $15 trillion. Via Axios
P Equity Research 📰81,088 views • 1 month ago
AWS CEO, Matt Garman, on CapEx and demand: "The potential business for us is just massive. We see this as a huge opportunity for us to really invest and help customers take advantage of of the AI opportunity, so we will keep investing. As Andy kind of called out last week, we have really great insight into what the demand is going to be from customers. So when we invest, and we will keep investing in CapEx next year as well, we have great insight into when that revenue is going to land. Much of our capacity is already spoken through the end of 27 and even through much of 28, so as we're investing, we're getting five year commitments from customers...I expect us to keep investing as we see opportunities and and some of that we'll see how the the market continues to grow, but right now we're excited about our investments and and we'll continue to invest." $AMZN Via Bloomberg
P Equity Research 📰51,365 views • 24 days ago
Jason Calacanis @jason on compute cost: "Yeah, people are running Kimi on the last generation of hardware, and that's plentiful. I think—and I'll make this prediction here—that you're going to see some of the major customers of Anthropic and major customers of OpenAI (I'm talking about the 8- and 9-figure customers, people spending $50 million, $100 million a year) leaving. They're going to be leaving because they don't trust those companies to not steal the application layer and to compete with them. ElevenLabs, Figma, Lovable—they're all gonna leave, and they're all gonna take Kimi, or they're gonna fork it or DeepSeek. They're all... I know for a fact they're all working on their own models currently. I know from my team; my team has installed Kimi. It is 90% cheaper already. Not sure where you get your data from, but go on OpenRouter. And what OpenRouter does is you pick Kimi stacks, and then you get all the providers there, and then you pick which provider—hold on, let me finish—and you pick them based on their data retention and other issues, and you can dynamically pick the lowest one. That's going to be a massive headwind against these companies. Massive. And I'm seeing it: 9 out of 10 startups I talked to in our portfolio—and found a university when I was just in Japan last week—run the next one, they're all working on open-source, they're all embracing it, and those big companies are embracing it." Via The All-In Podcast
P Equity Research 📰45,064 views • 27 days ago
Gene Munster on AI CapEx spend for 2027: "Street is looking for 23% CapEx growth for next year, few weeks ago it was 17%. If we take what CNBC is reporting this year on the $25B raise from Amazon and the recent comments from Google on their capital raise, that probably suggests the numbers are going to be up 37%." $AMZN $GOOGL $MSFT $META
P Equity Research 📰72,575 views • 1 month ago
Dylan Patel on Anthropic: "I think by Q3 they may even be profitable including SBC. Their margins on Opus 4.8 token is north of 80% for API price. They have a lot of deals where their total corporate gross margin gets clawed down a little bit because of how they do deals. They have the capability to pay, buying GPUs at above market rate. It is something other companies can't necessarily do. Every GPU I rent because I am out of compute capacity, I can immediately turn around and sell tokens on it or every TPU or Trainium at a positive margin. If I am running at 75% gross margins and I double the cost of compute, its fine I am still running at 50% gross margins. My NOI still goes up, so I will rent GPUs at almost whatever price I want to pay." Via Sequoia Capital
P Equity Research 📰73,740 views • 1 month ago
GlobalFoundries' Thomas Barber on CPO: "When you go to co-packaged optics, you are talking about something that is permanently attached inside the package of the GPU, so the reliability has to be extremely high. Companies like Meta, in particular, are going through the effort to validate the reliability of those solutions right now. Meta has released couple versions of a study they have been running for a long time with 50,000 GPUs in a network using CPO and what they found is the reliability is higher than it is with pluggables, and they found no link flaps which is the primary cause of concern in optical communications...they are doing the work and becoming more comfortable with the reliability, but they are not going to deploy at scale until they are absolutely certain that it is a reliable solution." Via Semi Doped
P Equity Research 📰23,600 views • 20 days ago
Nvidia $NVDA CEO, Jensen Huang, on the AI bubble danger: "The bubble will come someday, just not today. This is in the very beginning of the buildout. It is very unlikely in the next 5 years, and we will see with the 5-10 years. It depends on how fast we can build. The rate at which we can build the infrastructure is limited by physical things. Today, the industry could build faster and run faster but we don't have enough chips, memory, land, power, construction workers to build data centers...we are constrained in every single way and direction. That constraint is what holds the system back so it gives us plenty of time to go build out these infrastructures." Via Axios
P Equity Research 📰36,655 views • 1 month ago
CNBC: How GE Vernova builds the massive gas turbines powering the AI data center boom > GE Vernova’s $GEV order book is full until 2029, with orders going as far out as 2031. > Hyperscalers like Amazon, Google, Microsoft and Oracle are lining up to buy the company’s gas turbines to help power AI data centers. > Executives from nearly every major hyperscaler have walked the floor of the factory, according to a person familiar with the visits, who asked not to be named because the details are not public. > The turbines are massive, at 31 feet tall and weighing 280 tons. One turbine can power roughly half a million homes. > Microsoft just bought seven of them to power its data center in Texas. At 2.7 gigawatts, it’s enough electricity to power about 3 million homes. > "About 20% of our gas power order book is going to a data center, artificial intelligence-type of application." - Koziner, Chief Commercial and Operations Officer of GE Vernova. > One turbine can cost more than $250 million, according to industry estimates. The price has soared, up 300% in the last 3 years, according to analysts at Melius.
P Equity Research 📰54,678 views • 2 months ago
Dylan Patel Dylan Patel on memory costs and tokenmaxxing: "I think the costs will trickle down a lot. We have already seen server pricing go up, like V200s, V300s that you're buying now versus last year. The prices are significantly higher. We've seen next generation hardware receive price increases before they have even started production. It is definitely going to get passed down." "I love tokenmaxxing. I think anyone who doesn't tokenmaxx is going to be left behind. I think all of this token budgeting stuff is loser mentality. If you are token budgeting hardcore then your people are not going to learn the new workflows, and then they are not going to reshape your company and make it more eficient and drive a lot more work with fewer people. Ultimately, token budgeting is a fallacy. ROI is important, but ultimately the only way to get people to change their behavior is you measure them and force them to do things differently. Token budgeting is pulling back on them. Don't just waste money on tokens for the lols. Don't give bonuses to people based on how many tokens they use. But at the same time, don't just clamp down on people wholesale." Via Molly O’Shea
P Equity Research 📰22,119 views • 1 month ago
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