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If you hold $NET, this one changes an input. Gavin Baker Gavin Baker of Atreides Management told Jordi Hays on TBPN: CDNs like Cloudflare and Akamai deliver under 1% of global tokens today. Possibly under 10 basis points. The bulk of token generation happens inside hyperscaler and neocloud data...

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Podcast Alpha

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44,033 views • 2 months ago •via X (Twitter)

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Bottleneck trade: buy whatever AI can't get enough of. That trade is ending. Gavin Baker Gavin Baker of Atreides Management told Jordi Hays on TBPN: the tell was Ajinomoto - maker of ABF substrate, critical for semiconductor packaging - declining to raise prices at peak demand. Constrained suppliers who don't extract rent are signaling the squeeze is over. The next game is harder: finding companies with enduring franchise value once supply normalizes. That's a different analysis than "find the constraint and buy the input." Baker's framework for the post-bottleneck era, and where SpaceX sits in it: Source: TBPN -
0:58

Bottleneck trade: buy whatever AI can't get enough of. That trade is ending. Gavin Baker Gavin Baker of Atreides Management told Jordi Hays on TBPN: the tell was Ajinomoto - maker of ABF substrate, critical for semiconductor packaging - declining to raise prices at peak demand. Constrained suppliers who don't extract rent are signaling the squeeze is over. The next game is harder: finding companies with enduring franchise value once supply normalizes. That's a different analysis than "find the constraint and buy the input." Baker's framework for the post-bottleneck era, and where SpaceX sits in it: Source: TBPN -

Podcast Alpha

16,343 views • 2 months ago

Why is OpenAI cutting codex pricing right now? Gavin Baker Gavin Baker of Atreides Management thinks every major player knows the answer - and is acting on it privately. Baker told John Coogan on TBPN: OpenAI's codex price cuts are not a margin decision. They're a strategic move to stay in the recursive self-improvement loop - the cycle where AI improves its own code. Companies that lose coding token share now may find themselves outside that loop when it matters most. Baker's read on $META: Zuckerberg has no articulated product anchor for "personal superintelligence." But the mechanism that forced his hand in 2022 - the stock - is likely to activate again. What the end game looks like and who survives it: Source: TBPN -
0:43

Why is OpenAI cutting codex pricing right now? Gavin Baker Gavin Baker of Atreides Management thinks every major player knows the answer - and is acting on it privately. Baker told John Coogan on TBPN: OpenAI's codex price cuts are not a margin decision. They're a strategic move to stay in the recursive self-improvement loop - the cycle where AI improves its own code. Companies that lose coding token share now may find themselves outside that loop when it matters most. Baker's read on $META: Zuckerberg has no articulated product anchor for "personal superintelligence." But the mechanism that forced his hand in 2022 - the stock - is likely to activate again. What the end game looks like and who survives it: Source: TBPN -

Podcast Alpha

41,051 views • 2 months ago

xAI charges $50B per gigawatt. Neoclouds charge $17-25B. Gavin Baker Gavin Baker of Atreides Management told John Coogan and Jordi Hays on TBPN that Mars is not the SpaceX bull case. Altimeter's research shows xAI monetizes compute at $50B per gigawatt on the Google deal - 2-3x what any neocloud competitor charges. Baker stayed long through the IPO. His 12-month model doesn't track rocket launches. It tracks gigawatt additions. xAI also ordered roughly 20% of NVIDIA's Ruben production. Ruben is easier to deploy than Blackwell. Each new gigawatt at that pricing premium is a significant revenue event. Model gigawatts, not launch cadence. That's the trade. Full breakdown of Baker's near-term SpaceX case: Source: TBPN -
1:14

xAI charges $50B per gigawatt. Neoclouds charge $17-25B. Gavin Baker Gavin Baker of Atreides Management told John Coogan and Jordi Hays on TBPN that Mars is not the SpaceX bull case. Altimeter's research shows xAI monetizes compute at $50B per gigawatt on the Google deal - 2-3x what any neocloud competitor charges. Baker stayed long through the IPO. His 12-month model doesn't track rocket launches. It tracks gigawatt additions. xAI also ordered roughly 20% of NVIDIA's Ruben production. Ruben is easier to deploy than Blackwell. Each new gigawatt at that pricing premium is a significant revenue event. Model gigawatts, not launch cadence. That's the trade. Full breakdown of Baker's near-term SpaceX case: Source: TBPN -

Podcast Alpha

54,609 views • 2 months ago

Gavin Baker: "Anthropic is roughly four times more capital efficient than OpenAI - they're growing really fast and they're not burning that much cash" this is him explaining why he thinks token efficiency decides who wins, why xAI has the lowest cost per token of anyone, and what a Tesla board member says is actually the most advanced AI in the world right now "an Anthropic model can give you a comparable quality answer to a Google model using half as many tokens - and each token is literally cost" "xAI has the lowest cost per token because they build data centers faster and at a lower cost than everyone, and they run GPUs at a higher utilization" Tesla board member Antonio Gracias: "Tesla actually is today the most advanced AI in the world - it does the most complex thing a human does, drive a car" bookmark & watch the full conversation ↓
15:52

Gavin Baker: "Anthropic is roughly four times more capital efficient than OpenAI - they're growing really fast and they're not burning that much cash" this is him explaining why he thinks token efficiency decides who wins, why xAI has the lowest cost per token of anyone, and what a Tesla board member says is actually the most advanced AI in the world right now "an Anthropic model can give you a comparable quality answer to a Google model using half as many tokens - and each token is literally cost" "xAI has the lowest cost per token because they build data centers faster and at a lower cost than everyone, and they run GPUs at a higher utilization" Tesla board member Antonio Gracias: "Tesla actually is today the most advanced AI in the world - it does the most complex thing a human does, drive a car" bookmark & watch the full conversation ↓

Сarm1ne

128,114 views • 26 days ago

Gavin Baker Gavin Baker: HBM DRAM will be 30-40% of all hyperscaler capex in 2027. Baker manages Atreides - his 2025 Micron call is now 14x. This is his next call. HBM requires stacking 12-16 DRAM dies in a single package. Only three companies can do it: Micron, SK Hynix, Samsung. No fourth supplier arrives in 2027. Hundreds of billions annually to three firms. Micron's new supply chain agreements lock in floor pricing above prior cycle gross margin peaks. If you still hold $MU at a commodity discount to $ASML and $LRCX, Baker says that discount is no longer earned. Baker's full case at The All-In Podcast: Source: All-In Podcast -
5:47

Gavin Baker Gavin Baker: HBM DRAM will be 30-40% of all hyperscaler capex in 2027. Baker manages Atreides - his 2025 Micron call is now 14x. This is his next call. HBM requires stacking 12-16 DRAM dies in a single package. Only three companies can do it: Micron, SK Hynix, Samsung. No fourth supplier arrives in 2027. Hundreds of billions annually to three firms. Micron's new supply chain agreements lock in floor pricing above prior cycle gross margin peaks. If you still hold $MU at a commodity discount to $ASML and $LRCX, Baker says that discount is no longer earned. Baker's full case at The All-In Podcast: Source: All-In Podcast -

Podcast Alpha

503,026 views • 1 month ago

Day 10 of why you need to use Jupiter Mobile: THE MOST POWERFUL MOBILE TRADING EXPERIENCE Throw your desktop away, Token Pro now gives all the trenching tools natively on mobile. No more switching apps or opening tabs in your browser. Everything you need, deep token data, your position, and instant execution is now in one place: - Real-time deep terminal data for every token: momentum, holder trends ,volume shifts, candlestick charts with smooth interval switching - Validated token data and insights powered by VRFD, our trusted token data layer - Live transaction feed: real-time buys and sells so you can see flow as it happens - Your detailed token positions: real live PnL, average entry, and every buy and sell plotted on the chart - Your unified trading history with a real-time view of every tx you’ve ever made - Quick actions built right into the token page so you can execute instantly, powered by Ultra V3 the fastest execution engine ever built And with AlphaScan, Watchlist, and Pro Filters you can discover early opportunities across the market, filter them with precision, and track all your favorite tokens. Discover, analyze & execute natively on mobile. Trench like a pro. Just Use Jupiter (Mobile).
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Day 10 of why you need to use Jupiter Mobile: THE MOST POWERFUL MOBILE TRADING EXPERIENCE Throw your desktop away, Token Pro now gives all the trenching tools natively on mobile. No more switching apps or opening tabs in your browser. Everything you need, deep token data, your position, and instant execution is now in one place: - Real-time deep terminal data for every token: momentum, holder trends ,volume shifts, candlestick charts with smooth interval switching - Validated token data and insights powered by VRFD, our trusted token data layer - Live transaction feed: real-time buys and sells so you can see flow as it happens - Your detailed token positions: real live PnL, average entry, and every buy and sell plotted on the chart - Your unified trading history with a real-time view of every tx you’ve ever made - Quick actions built right into the token page so you can execute instantly, powered by Ultra V3 the fastest execution engine ever built And with AlphaScan, Watchlist, and Pro Filters you can discover early opportunities across the market, filter them with precision, and track all your favorite tokens. Discover, analyze & execute natively on mobile. Trench like a pro. Just Use Jupiter (Mobile).

Jupiter

180,740 views • 7 months ago

BREAKING: Dylan Patel (Dylan Patel) of SemiAnalysis says "chips in Europe have less seasoning than chips in America & Mexico." Plus: › Data centers & France’s nuclear power › AI infrastructure over-optimization › Flexibility vs. specialized infrastructure › Software-hardware co-design › Open vs. closed models › Memory costs & token pricing › Tokenmaxxing vs. token budgeting › Haiku scandal › Favorite chip: 👀 “I think most people don't know what they're doing. They're just buying NVIDIA stuff.” “It feels like a lot of people are trying to optimize on the current rather than think about where the workload is heading... and that's gonna lead to a lot of wasted infra spend.” “I think anyone who doesn't token max is gonna get left behind. I think all this token budgeting stuff is loser mentality.” “Open is dying quickly, unfortunately.”
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BREAKING: Dylan Patel (Dylan Patel) of SemiAnalysis says "chips in Europe have less seasoning than chips in America & Mexico." Plus: › Data centers & France’s nuclear power › AI infrastructure over-optimization › Flexibility vs. specialized infrastructure › Software-hardware co-design › Open vs. closed models › Memory costs & token pricing › Tokenmaxxing vs. token budgeting › Haiku scandal › Favorite chip: 👀 “I think most people don't know what they're doing. They're just buying NVIDIA stuff.” “It feels like a lot of people are trying to optimize on the current rather than think about where the workload is heading... and that's gonna lead to a lot of wasted infra spend.” “I think anyone who doesn't token max is gonna get left behind. I think all this token budgeting stuff is loser mentality.” “Open is dying quickly, unfortunately.”

Molly O’Shea

267,483 views • 1 month ago

Gavin Baker Gavin Baker: the Anthropic S1 is going to break a lot of people's brains. The entire AI bear case rests on one assumption, that tokens are sold below cost. What the filing settles, and who has to cover: Baker says that assumption is wrong. Open-source tokens are profitable. Anthropic is profitable and generating cash. OpenAI is close. Most tokens in the chain make money today. The S1 is the first audited document that settles it either way. Jim Chanos James Chanos has spent the year on the other side, calling the AI buildout a circular financing story. Plain version for a position holder: a lot of macro and value money is bearish on AI because it believes tokens are subsidized. If the filing shows real margins, that money covers into a re-rating and $NVDA, $TSM, $MU and the hyperscalers all move on it. If the filing shows subsidized tokens, every valuation downstream of it is sitting on sand. One document, one binary, a date on the calendar. David Sacks David Sacks and Jason Calacanis @jason worked him over on it for a full segment. Source: All-In Podcast -
2:40

Gavin Baker Gavin Baker: the Anthropic S1 is going to break a lot of people's brains. The entire AI bear case rests on one assumption, that tokens are sold below cost. What the filing settles, and who has to cover: Baker says that assumption is wrong. Open-source tokens are profitable. Anthropic is profitable and generating cash. OpenAI is close. Most tokens in the chain make money today. The S1 is the first audited document that settles it either way. Jim Chanos James Chanos has spent the year on the other side, calling the AI buildout a circular financing story. Plain version for a position holder: a lot of macro and value money is bearish on AI because it believes tokens are subsidized. If the filing shows real margins, that money covers into a re-rating and $NVDA, $TSM, $MU and the hyperscalers all move on it. If the filing shows subsidized tokens, every valuation downstream of it is sitting on sand. One document, one binary, a date on the calendar. David Sacks David Sacks and Jason Calacanis @jason worked him over on it for a full segment. Source: All-In Podcast -

Podcast Alpha

29,375 views • 8 days ago

This is my sixth conversation with Gavin Baker. As always with Gavin, the conversation covers a lot of ground, but we spend the most time on watts and wafers. We discuss: - Why the wafer shortage may prevent an AI bubble - Data centers in space (reframed) - Elon's Terafab and the new chip companies challenging Nvidia - Usage-based pricing - The disaggregation of GPUs - DRAM, frontier tokens, and open source Enjoy! Timestamps: 0:00 Intro 7:55 Anthropic and OpenAI Valuations 12:58 Watts, Wafers, and Infrastructure 14:39 Orbital Compute and Data Centers in Space 22:49 Avoiding the AI Bubble 28:26 Terafab and the Future of US Manufacturing 32:16 Returns to the Frontier 37:23 Continual Learning 42:03 New Chip Companies 48:52 Extending GPU Lifespans and Private Credit 51:22 The Application Layer 57:32 The Token Path and Open-Source Dynamics 1:01:37 Cybersecurity 1:05:46 Diversity Breakdown 1:11:59 Assessing the Big Tech Players in AI 1:19:02 Geopolitics, Personal Safety, and the AI Horizon
1:22:10

This is my sixth conversation with Gavin Baker. As always with Gavin, the conversation covers a lot of ground, but we spend the most time on watts and wafers. We discuss: - Why the wafer shortage may prevent an AI bubble - Data centers in space (reframed) - Elon's Terafab and the new chip companies challenging Nvidia - Usage-based pricing - The disaggregation of GPUs - DRAM, frontier tokens, and open source Enjoy! Timestamps: 0:00 Intro 7:55 Anthropic and OpenAI Valuations 12:58 Watts, Wafers, and Infrastructure 14:39 Orbital Compute and Data Centers in Space 22:49 Avoiding the AI Bubble 28:26 Terafab and the Future of US Manufacturing 32:16 Returns to the Frontier 37:23 Continual Learning 42:03 New Chip Companies 48:52 Extending GPU Lifespans and Private Credit 51:22 The Application Layer 57:32 The Token Path and Open-Source Dynamics 1:01:37 Cybersecurity 1:05:46 Diversity Breakdown 1:11:59 Assessing the Big Tech Players in AI 1:19:02 Geopolitics, Personal Safety, and the AI Horizon

Patrick OShaughnessy

1,676,580 views • 3 months ago

This is the best way to understand $STONKBROKER. The features Ansem 🐂🀄️ mentions like stock distributions are cool, but it's easy to lose sight of the bigger picture. Let's dive in. 1. WTF is $STONKBROKER? Most people see it as just an NFT collection. It is not. It is the next generation's infrastructure for financial assets onchain. Think $VIRTUAL but with far better distribution and far more variety in assets and technology. $STONKBROKER's ecosystem already includes fundamental tech like: on-chain stocks with dividends, a new Automated Market Maker, interchangeable NFTs and tokens, a stock token gachapon, and a community-mining RNG protocol. Coming next: their Launchpad, DEX, options trading, and RWA expansion from Pokemon cards to real estate. All under one token. Normally all of these components would be separate projects with separate tokens. Their launchpad is releasing any minute now with their first curated launch $MANCER, which aims to be the Jupiter ($JUP) of RH. This and their VRNG generator $DERP are the first of many special launches that will grow the ecosystem. Just like how every AI agent did that for $VIRTUAL. 2. How does it work? The $STONKBROKER token is the native ERC-20 token that ties it all together. The token and the NFTs are interchangeable. Simply put, $STONKBROKER tokens can be seen as individual dollar coins, while the NFTs are dollar bills worth 666,666 coins. You can exchange coins for bills (666,666 coins) and vice versa at their Vault. Owning the NFT (the bill) gives you additional privileges. Every product in the ecosystem drives value back to both. The NFTs can clock in and choose which assets they receive distributions from, including stocks like Tesla, Apple, and Nvidia. They also receive revenue share for all current and future products. $STONKBROKER is used across every product and is continuously burned through multiple mechanics, including NFT activation to receive its benefits. Their launchpad will also pair tokens to $STONKBROKER, creating constant demand for it. Now imagine when all the other features release that burn tokens and provide revenue. This is one of the most intricate token mechanics to date. 3. Who is behind it? SimpleFarmer built $STONKBROKER. He is the former Head of DeFi at Ape Chain from Yuga Labs. He won grants from Polymarket and Arbitrum and has spent years building the underlying DeFi infrastructure. At ApeCo he saw the gap that defined this project. Most DeFi projects have substance but struggle with distribution. While most NFTs have distribution but have no real substance. $STONKBROKER brings the two together. The approach is infrastructure-first. He spent years building the technology but needed distribution before launching. Now he has both. His community has been with him since Bored Apes and his former project Clutch Puppies. He genuinely cares about the community and advancing crypto. 4. What's the edge? The architecture is built so the tokens can trade on centralized exchanges. Centralized exchanges will not touch mineable tokens because of the security and accounting risks. SimpleFarmer learned this at ApeCo trying to get $APE listed on more exchanges. The infrastructure was there. The demand was there. The CEX listing was blocked by the token standard. No other hybrid token/NFT project has solved this. Only $STONKBROKER has. Every project that launches through their infrastructure will also be CEX-ready for potential future listings on Robinhood, Binance, Coinbase, and the other exchanges. This is your next 100x
2:09

This is the best way to understand $STONKBROKER. The features Ansem 🐂🀄️ mentions like stock distributions are cool, but it's easy to lose sight of the bigger picture. Let's dive in. 1. WTF is $STONKBROKER? Most people see it as just an NFT collection. It is not. It is the next generation's infrastructure for financial assets onchain. Think $VIRTUAL but with far better distribution and far more variety in assets and technology. $STONKBROKER's ecosystem already includes fundamental tech like: on-chain stocks with dividends, a new Automated Market Maker, interchangeable NFTs and tokens, a stock token gachapon, and a community-mining RNG protocol. Coming next: their Launchpad, DEX, options trading, and RWA expansion from Pokemon cards to real estate. All under one token. Normally all of these components would be separate projects with separate tokens. Their launchpad is releasing any minute now with their first curated launch $MANCER, which aims to be the Jupiter ($JUP) of RH. This and their VRNG generator $DERP are the first of many special launches that will grow the ecosystem. Just like how every AI agent did that for $VIRTUAL. 2. How does it work? The $STONKBROKER token is the native ERC-20 token that ties it all together. The token and the NFTs are interchangeable. Simply put, $STONKBROKER tokens can be seen as individual dollar coins, while the NFTs are dollar bills worth 666,666 coins. You can exchange coins for bills (666,666 coins) and vice versa at their Vault. Owning the NFT (the bill) gives you additional privileges. Every product in the ecosystem drives value back to both. The NFTs can clock in and choose which assets they receive distributions from, including stocks like Tesla, Apple, and Nvidia. They also receive revenue share for all current and future products. $STONKBROKER is used across every product and is continuously burned through multiple mechanics, including NFT activation to receive its benefits. Their launchpad will also pair tokens to $STONKBROKER, creating constant demand for it. Now imagine when all the other features release that burn tokens and provide revenue. This is one of the most intricate token mechanics to date. 3. Who is behind it? SimpleFarmer built $STONKBROKER. He is the former Head of DeFi at Ape Chain from Yuga Labs. He won grants from Polymarket and Arbitrum and has spent years building the underlying DeFi infrastructure. At ApeCo he saw the gap that defined this project. Most DeFi projects have substance but struggle with distribution. While most NFTs have distribution but have no real substance. $STONKBROKER brings the two together. The approach is infrastructure-first. He spent years building the technology but needed distribution before launching. Now he has both. His community has been with him since Bored Apes and his former project Clutch Puppies. He genuinely cares about the community and advancing crypto. 4. What's the edge? The architecture is built so the tokens can trade on centralized exchanges. Centralized exchanges will not touch mineable tokens because of the security and accounting risks. SimpleFarmer learned this at ApeCo trying to get $APE listed on more exchanges. The infrastructure was there. The demand was there. The CEX listing was blocked by the token standard. No other hybrid token/NFT project has solved this. Only $STONKBROKER has. Every project that launches through their infrastructure will also be CEX-ready for potential future listings on Robinhood, Binance, Coinbase, and the other exchanges. This is your next 100x

Tony Doerga

25,630 views • 18 days ago

💡 Whats the upgrade that our game-changing Trading 🐦 is going to get: Our upgraded trading tools will be built on a foundation of advanced AI technologies and blockchain integrations to deliver a seamless, smarter trading experience. Here’s a glimpse of the tech behind this upgraded trading agent: 1️⃣ Multi-Layer Attention (MLA) - This is the backbone of our AI system, enabling multiple AI agents to work in sync. - It allows the agents to collaborate on tasks like analyzing market trends, identifying token opportunities, and optimizing strategies in real time. - MLA ensures parallel processing of data for better decision-making and faster 2️⃣ Learning and Evolution System - Our AI agents are powered by a self-learning framework that constantly evolves based on market conditions and user behavior. - With every interaction, the system adapts and gets smarter, improving the accuracy of its predictions and strategies. 3️⃣ On-Chain Data Analysis - The AI bots pull data directly from Ethereum and other blockchain networks, giving them real-time access to liquidity pools, token prices, and market activity. - This deep integration ensures precise and timely execution of tasks like token purchases, profit analysis, and cross-chain swaps. 4️⃣ Natural Language Processing (NLP) - NLP models power the bot’s ability to understand your tweets and translate them into complex trading actions. - This ensures an easy-to-use, human-friendly interface that connects your social interactions to advanced trading strategies. 5️⃣ Cloud-Hosted Infrastructure - The AI operates on scalable cloud infrastructure, ensuring 24/7 uptime, fast processing, and the ability to handle large volumes of trades simultaneously.
0:51

💡 Whats the upgrade that our game-changing Trading 🐦 is going to get: Our upgraded trading tools will be built on a foundation of advanced AI technologies and blockchain integrations to deliver a seamless, smarter trading experience. Here’s a glimpse of the tech behind this upgraded trading agent: 1️⃣ Multi-Layer Attention (MLA) - This is the backbone of our AI system, enabling multiple AI agents to work in sync. - It allows the agents to collaborate on tasks like analyzing market trends, identifying token opportunities, and optimizing strategies in real time. - MLA ensures parallel processing of data for better decision-making and faster 2️⃣ Learning and Evolution System - Our AI agents are powered by a self-learning framework that constantly evolves based on market conditions and user behavior. - With every interaction, the system adapts and gets smarter, improving the accuracy of its predictions and strategies. 3️⃣ On-Chain Data Analysis - The AI bots pull data directly from Ethereum and other blockchain networks, giving them real-time access to liquidity pools, token prices, and market activity. - This deep integration ensures precise and timely execution of tasks like token purchases, profit analysis, and cross-chain swaps. 4️⃣ Natural Language Processing (NLP) - NLP models power the bot’s ability to understand your tweets and translate them into complex trading actions. - This ensures an easy-to-use, human-friendly interface that connects your social interactions to advanced trading strategies. 5️⃣ Cloud-Hosted Infrastructure - The AI operates on scalable cloud infrastructure, ensuring 24/7 uptime, fast processing, and the ability to handle large volumes of trades simultaneously.

𝕋𝕎𝔼𝔼𝕋

20,357 views • 1 year ago

Participants in the GPU rental market had grown accustomed to a familiar regime: relentless cost declines, falling $/token, and the assumption that each new chip generation would compress pricing further. Many onlookers extrapolated this into outright bearishness on older hardware, calling for a wave of impairments across AI clouds as Hopper-era GPUs were rendered economically obsolete. As Dylan noted, the logic seemed straightforward - newer chips dramatically outperform Hopper, so prices should fall. The rise of agentic AI have shifted the paradigm. Pricing is now repricing violently to real-time economic value under constraint. As highlighted in the transcript, even though models like GPT-5.4 are cheaper and more efficient - producing more tokens per GPU at higher quality - this does not reduce demand. Instead, it expands it, in-line with Jevons' Paradox. SemiAnalysis data shows the same dynamic: token usage is accelerating rapidly because the ROI is obvious, making compute demand increasingly price insensitive. In this new regime, supply constraints and token value dominate pricing we think this paradigm is only here to stay if not intensify.
0:24

Participants in the GPU rental market had grown accustomed to a familiar regime: relentless cost declines, falling $/token, and the assumption that each new chip generation would compress pricing further. Many onlookers extrapolated this into outright bearishness on older hardware, calling for a wave of impairments across AI clouds as Hopper-era GPUs were rendered economically obsolete. As Dylan noted, the logic seemed straightforward - newer chips dramatically outperform Hopper, so prices should fall. The rise of agentic AI have shifted the paradigm. Pricing is now repricing violently to real-time economic value under constraint. As highlighted in the transcript, even though models like GPT-5.4 are cheaper and more efficient - producing more tokens per GPU at higher quality - this does not reduce demand. Instead, it expands it, in-line with Jevons' Paradox. SemiAnalysis data shows the same dynamic: token usage is accelerating rapidly because the ROI is obvious, making compute demand increasingly price insensitive. In this new regime, supply constraints and token value dominate pricing we think this paradigm is only here to stay if not intensify.

SemiAnalysis

55,206 views • 5 months ago

We are excited to announce a powerful step for the future of FOMO! Taking a page out of Virtuals book on BASE, FOMO will be releasing the ability for future projects to be paired in $FOMO in the coming weeks. This is the biggest release we have ever announced. Launch your AI Agent Token + $FOMO trading pair Every individual agent token is paired with the $FOMO token in its liquidity pool. When launching an agent on you will need $FOMO tokens, which are used to create the liquidity pool. This process creates deflationary pressure for FOMO and the entire agent ecosystem. When creating your agent and token, you will have the option to pair your launch with FOMO or SOL, as our goal is not to alienate any project, but rather invite the best communities, CTO’s and builders to launch with us. If you decide to pair your project with FOMO you in turn get full marketing and dev support, once your project graduates the bonding curve and reaches Raydium. Further, as an added incentive, as our revenue grows we will be using part of the funds to support projects that have paired in FOMO. And Devs who launch tokens paired in FOMO will earn fees from their AI Agent token launch. Building the most robust agents using our framework will catapult us as one of the most prominent standards of the Solana ecosystem. Not only have we developed our own core infrastructure, but we also pull from some of the best repo’s and developer talent in all of AI, not just blockchain. Our team is comprised of 9 world class artificial intelligence engineers, PHDs in mathematics and engineering from the top companies on the cutting edge of AI. The future of AI Agents will be on Solana and we will help lead the way.
0:39

We are excited to announce a powerful step for the future of FOMO! Taking a page out of Virtuals book on BASE, FOMO will be releasing the ability for future projects to be paired in $FOMO in the coming weeks. This is the biggest release we have ever announced. Launch your AI Agent Token + $FOMO trading pair Every individual agent token is paired with the $FOMO token in its liquidity pool. When launching an agent on you will need $FOMO tokens, which are used to create the liquidity pool. This process creates deflationary pressure for FOMO and the entire agent ecosystem. When creating your agent and token, you will have the option to pair your launch with FOMO or SOL, as our goal is not to alienate any project, but rather invite the best communities, CTO’s and builders to launch with us. If you decide to pair your project with FOMO you in turn get full marketing and dev support, once your project graduates the bonding curve and reaches Raydium. Further, as an added incentive, as our revenue grows we will be using part of the funds to support projects that have paired in FOMO. And Devs who launch tokens paired in FOMO will earn fees from their AI Agent token launch. Building the most robust agents using our framework will catapult us as one of the most prominent standards of the Solana ecosystem. Not only have we developed our own core infrastructure, but we also pull from some of the best repo’s and developer talent in all of AI, not just blockchain. Our team is comprised of 9 world class artificial intelligence engineers, PHDs in mathematics and engineering from the top companies on the cutting edge of AI. The future of AI Agents will be on Solana and we will help lead the way.

FOMO

129,867 views • 1 year ago

Bloomberg's Joe Weisenthal observes the scary double bind that compute prices 10xing puts hyperscalers in: "One of the stylized facts in recent years has been the extraordinary drop in token prices." "If you go back to GPT-3, token prices are down like 99.9%." "We think there's some iron law that token prices will get cheaper over time." "But maybe not. We thought there was an iron law that memory prices would drop over time. Or that any sort of hardware would drop over time." "But the story of the last two years is that that law can reverse." "It's not impossible to imagine that compute prices get significantly more expensive." "But that doesn't mean you can stop spending on it. Because you have to worry about hardening yourself for cybersecurity." "There's no, 'This is not economical for me anymore. I want to tap out of the whole AI race.'" "Well then, your competitor develops a stronger model. And then you're done. You're really done." "This is the scary thing. What if the situation is, you're bleeding free cash flow, but you also don't have the option to opt out of the game?"
2:00

Bloomberg's Joe Weisenthal observes the scary double bind that compute prices 10xing puts hyperscalers in: "One of the stylized facts in recent years has been the extraordinary drop in token prices." "If you go back to GPT-3, token prices are down like 99.9%." "We think there's some iron law that token prices will get cheaper over time." "But maybe not. We thought there was an iron law that memory prices would drop over time. Or that any sort of hardware would drop over time." "But the story of the last two years is that that law can reverse." "It's not impossible to imagine that compute prices get significantly more expensive." "But that doesn't mean you can stop spending on it. Because you have to worry about hardening yourself for cybersecurity." "There's no, 'This is not economical for me anymore. I want to tap out of the whole AI race.'" "Well then, your competitor develops a stronger model. And then you're done. You're really done." "This is the scary thing. What if the situation is, you're bleeding free cash flow, but you also don't have the option to opt out of the game?"

TBPN

92,708 views • 26 days ago

[Presale Token Distribution Update] Hello everyone. I am YoungHoon Kim, Founder of LAMB276. First of all, I would like to sincerely thank everyone who participated in the LAMB presale. Today, I would like to share an important update regarding token distribution. As many of you are aware, due to my lack of preparation, the presale website experienced traffic issues and was unable to properly handle demand. As a result, allocations were not displayed on time. Because of this, many participants became concerned about whether tokens would be distributed properly. In order to maintain trust, we initially planned to proceed with token distribution today. However, upon further review, we identified several serious issues that could arise if tokens were distributed at this time: 1) Once tokens are distributed, anyone can list them on a DEX. This could have a highly negative impact on future rounds and planned tier 1 CEX listings. 2) If LAMB is listed and traded on DEXs by various individuals rather than officially by the LAMB foundation, it could lead to multiple scam-related issues. This would ultimately harm all presale token holders. 3) The Public Round is planned to be conducted through an official launchpad. If unofficial DEX trading occurs beforehand, launchpads may reject the LAMB sale altogether, which would again disadvantage all presale participants. For these reasons, we concluded that distributing LAMB tokens today as originally planned could actually cause harm to our token holders. Therefore, we have decided to distribute presale tokens immediately before the first TGE instead. I sincerely apologize for the inconvenience caused by the traffic issues that delayed allocation visibility, as well as for the need to revise our original token distribution announcement. Please be assured that the amount displayed under “My Allocation” represents your reserved allocation. This amount will be fully distributed to you before the TGE, so there is absolutely no need for concern. Once all sales are completed, a modal page will open where you will enter the wallet address to receive your tokens. Tokens will then be automatically distributed just before the TGE. As the Founder of LAMB, I will continue to think further ahead and make decisions that best serve all token holders in the long term. I am committed to not repeating the same mistakes and to earning your trust through responsible execution. Thank you, as always, for believing in me and in LAMB276. — YoungHoon Kim Founder of LAMB276
4:22

[Presale Token Distribution Update] Hello everyone. I am YoungHoon Kim, Founder of LAMB276. First of all, I would like to sincerely thank everyone who participated in the LAMB presale. Today, I would like to share an important update regarding token distribution. As many of you are aware, due to my lack of preparation, the presale website experienced traffic issues and was unable to properly handle demand. As a result, allocations were not displayed on time. Because of this, many participants became concerned about whether tokens would be distributed properly. In order to maintain trust, we initially planned to proceed with token distribution today. However, upon further review, we identified several serious issues that could arise if tokens were distributed at this time: 1) Once tokens are distributed, anyone can list them on a DEX. This could have a highly negative impact on future rounds and planned tier 1 CEX listings. 2) If LAMB is listed and traded on DEXs by various individuals rather than officially by the LAMB foundation, it could lead to multiple scam-related issues. This would ultimately harm all presale token holders. 3) The Public Round is planned to be conducted through an official launchpad. If unofficial DEX trading occurs beforehand, launchpads may reject the LAMB sale altogether, which would again disadvantage all presale participants. For these reasons, we concluded that distributing LAMB tokens today as originally planned could actually cause harm to our token holders. Therefore, we have decided to distribute presale tokens immediately before the first TGE instead. I sincerely apologize for the inconvenience caused by the traffic issues that delayed allocation visibility, as well as for the need to revise our original token distribution announcement. Please be assured that the amount displayed under “My Allocation” represents your reserved allocation. This amount will be fully distributed to you before the TGE, so there is absolutely no need for concern. Once all sales are completed, a modal page will open where you will enter the wallet address to receive your tokens. Tokens will then be automatically distributed just before the TGE. As the Founder of LAMB, I will continue to think further ahead and make decisions that best serve all token holders in the long term. I am committed to not repeating the same mistakes and to earning your trust through responsible execution. Thank you, as always, for believing in me and in LAMB276. — YoungHoon Kim Founder of LAMB276

LAMB276

11,433 views • 7 months ago

The time has arrived! The Spectre AI Second AI Platform is ready. AI Screener Beta Test is NOW LIVE! After months of work, our first iteration of our Second AI Platform is here. All our beta testers can now access the platform and experience its functionality in action. There are 2 versions available in Night and Day mode: 1. AI Screener LITE A fast, simplified research setup for investors: • Chart View: Analyze token charts, switch timeframes, and check market cap and price. • Token Info: Instantly view token data, audits, social medias, volume, and price changes. • Dexscan Orders: Track live trades, including maker/taker IDs, position entries and exits. • Screener: Discover trending tokens and new pairs across all major chains. • Watchlist: Create, import, or share custom token lists in seconds. 2. AI Screener PRO Unlock deeper, more dynamic tools for both investors and traders: • Market Widgets: Customize views of on-chain volume, trending, and X Bubbles Mini. • Watchlist Analytics: Visualise all your favourite tokens as bubble charts and compare their performance. • Tweets Preview: Follow live project tweets in a streamlined format. • Chart Compare: Overlay multi-token, multi-chain charts. • Sector Token Bubbles: Analyse market sectors in a visual format. • Bubblemap: Visually track wallet connections and their token movements. Coming soon: Mobile Edition, Swaps, own Trading solutions, KOL Analytics, Holder Analysis, X Bubbles, X Charts, Monarch AI Agent, and much more! You can join the AI Screener Beta Test now by joining our Telegram group at and requesting White List Access. #aidex #SPECT
1:37

The time has arrived! The Spectre AI Second AI Platform is ready. AI Screener Beta Test is NOW LIVE! After months of work, our first iteration of our Second AI Platform is here. All our beta testers can now access the platform and experience its functionality in action. There are 2 versions available in Night and Day mode: 1. AI Screener LITE A fast, simplified research setup for investors: • Chart View: Analyze token charts, switch timeframes, and check market cap and price. • Token Info: Instantly view token data, audits, social medias, volume, and price changes. • Dexscan Orders: Track live trades, including maker/taker IDs, position entries and exits. • Screener: Discover trending tokens and new pairs across all major chains. • Watchlist: Create, import, or share custom token lists in seconds. 2. AI Screener PRO Unlock deeper, more dynamic tools for both investors and traders: • Market Widgets: Customize views of on-chain volume, trending, and X Bubbles Mini. • Watchlist Analytics: Visualise all your favourite tokens as bubble charts and compare their performance. • Tweets Preview: Follow live project tweets in a streamlined format. • Chart Compare: Overlay multi-token, multi-chain charts. • Sector Token Bubbles: Analyse market sectors in a visual format. • Bubblemap: Visually track wallet connections and their token movements. Coming soon: Mobile Edition, Swaps, own Trading solutions, KOL Analytics, Holder Analysis, X Bubbles, X Charts, Monarch AI Agent, and much more! You can join the AI Screener Beta Test now by joining our Telegram group at and requesting White List Access. #aidex #SPECT

SPECTRE AI

234,997 views • 1 year ago

The $ONDO DAO has 190,000 token holders. Only 3,040 have ever touched governance. The vote that decides everything about this investment has not even been filed yet. Most people bought $ONDO because of the narrative. BlackRock. Clearstream. Deutsche Börse. Tokenised Treasuries. The story is real, and the protocol is legitimate. $3.57 billion in TVL. $66 million in annual management fees from real assets. But here is what nobody told you when you bought: None of that revenue touches the $ONDO token right now. The Ondo DAO has had 9 proposals in its entire history. The last one was executed in January 2024. It was not a fee switch. Zero active proposals today. 190,000 token holders. 3,040 delegates. 1.6% of holders are participating in the governance that controls the future of your investment. The other 98.4% are holding a vote they have never cast. Protocol fees flow into Ondo Finance Inc., USDY LLC, and the Ondo Foundation. Operations. Audits. Legal. Compliance. Whatever remains stays with the corporate entities. Not with you. The fee switch changes this entirely. If it passes, protocol revenue begins flowing directly to token holders. That single vote is the difference between $ONDO being a speculation instrument and a cash flow asset. This structure was not an accident. Tokenised securities live inside regulated wrappers. Ondo deliberately kept the token outside the revenue loop during the build phase. You do not flip a switch before the rails are in place. SEC no-action letter received. Clearstream integration announced. DTCC partnership confirmed. 500 million regulated investors now have onchain access to US markets. The rails are now in place. Before you size your position, answer this honestly: Are you investing in Ondo Finance (the protocol) or $ONDO (the token)? Right now, those are two completely different bets. The protocol is already winning. The token is still waiting for permission to participate in that win. The window between now and that vote is the only time you can position before the crowd understands what they are actually buying. Most people will find out what $ONDO really is the day the fee switch passes, and the price has already moved. The people who understood the governance structure before the vote will not need to explain themselves later. Track the DAO. The most important moment in $ONDO history has not happened yet. You just understood it now.
26:37

The $ONDO DAO has 190,000 token holders. Only 3,040 have ever touched governance. The vote that decides everything about this investment has not even been filed yet. Most people bought $ONDO because of the narrative. BlackRock. Clearstream. Deutsche Börse. Tokenised Treasuries. The story is real, and the protocol is legitimate. $3.57 billion in TVL. $66 million in annual management fees from real assets. But here is what nobody told you when you bought: None of that revenue touches the $ONDO token right now. The Ondo DAO has had 9 proposals in its entire history. The last one was executed in January 2024. It was not a fee switch. Zero active proposals today. 190,000 token holders. 3,040 delegates. 1.6% of holders are participating in the governance that controls the future of your investment. The other 98.4% are holding a vote they have never cast. Protocol fees flow into Ondo Finance Inc., USDY LLC, and the Ondo Foundation. Operations. Audits. Legal. Compliance. Whatever remains stays with the corporate entities. Not with you. The fee switch changes this entirely. If it passes, protocol revenue begins flowing directly to token holders. That single vote is the difference between $ONDO being a speculation instrument and a cash flow asset. This structure was not an accident. Tokenised securities live inside regulated wrappers. Ondo deliberately kept the token outside the revenue loop during the build phase. You do not flip a switch before the rails are in place. SEC no-action letter received. Clearstream integration announced. DTCC partnership confirmed. 500 million regulated investors now have onchain access to US markets. The rails are now in place. Before you size your position, answer this honestly: Are you investing in Ondo Finance (the protocol) or $ONDO (the token)? Right now, those are two completely different bets. The protocol is already winning. The token is still waiting for permission to participate in that win. The window between now and that vote is the only time you can position before the crowd understands what they are actually buying. Most people will find out what $ONDO really is the day the fee switch passes, and the price has already moved. The people who understood the governance structure before the vote will not need to explain themselves later. Track the DAO. The most important moment in $ONDO history has not happened yet. You just understood it now.

2xnmore

61,388 views • 3 months ago

Arvind Krishna on Masters of Scale: the AI data center math doesn't work. IBM's CEO runs the numbers. 125 GW of committed AI data centers implies $8-12T in capex. That requires roughly $1T in annual profit. Which requires $4T in incremental AI revenue. His words: "I don't see the economics of that at all." Krishna is talking his book - IBM sells the on-premise alternative. But he is an enterprise infrastructure CEO who has deployed AI at scale across 250K+ employees. When he says the hyperscaler capex cycle has no revenue path, that is worth weighing. The bull and bear case on IBM are the same argument: excess capex validates on-premise. IBM's full enterprise ROI breakdown, the $4T revenue gap, and the quantum bet: Source: Masters of Scale -
1:25

Arvind Krishna on Masters of Scale: the AI data center math doesn't work. IBM's CEO runs the numbers. 125 GW of committed AI data centers implies $8-12T in capex. That requires roughly $1T in annual profit. Which requires $4T in incremental AI revenue. His words: "I don't see the economics of that at all." Krishna is talking his book - IBM sells the on-premise alternative. But he is an enterprise infrastructure CEO who has deployed AI at scale across 250K+ employees. When he says the hyperscaler capex cycle has no revenue path, that is worth weighing. The bull and bear case on IBM are the same argument: excess capex validates on-premise. IBM's full enterprise ROI breakdown, the $4T revenue gap, and the quantum bet: Source: Masters of Scale -

Podcast Alpha

11,102 views • 1 month ago

Nvidia CEO Jensen Huang on why engineers will soon be paid in tokens, not just salary: Jensen lays out a future where compute access becomes part of an engineer's compensation package. "I could totally imagine in the future every single engineer in our company will need an annual token budget," he says. He explains how the math would work: "They're going to make a few hundred thousand a year their base pay. I'm going to give them probably half of that on top of it as tokens so that they could be amplified 10x. Of course, we would." According to Huang, this is already changing how companies compete for talent: "It is now one of the recruiting tools in Silicon Valley. How many tokens comes along with my job?" His reasoning is simple: tokens make engineers more productive. As he puts it, "every engineer that has access to tokens will be more productive and those tokens as you know will be produced by AI factories that all of you and us we partner to build." Huang then zooms out to describe how this reshapes the nature of companies themselves: "Every single enterprise company in today sit on top of file systems and data centers. Every single software company of the future will be agentic and they will be token manufacturers. They be token users for their engineers and they'll be token manufacturers for all of their customers."
1:04

Nvidia CEO Jensen Huang on why engineers will soon be paid in tokens, not just salary: Jensen lays out a future where compute access becomes part of an engineer's compensation package. "I could totally imagine in the future every single engineer in our company will need an annual token budget," he says. He explains how the math would work: "They're going to make a few hundred thousand a year their base pay. I'm going to give them probably half of that on top of it as tokens so that they could be amplified 10x. Of course, we would." According to Huang, this is already changing how companies compete for talent: "It is now one of the recruiting tools in Silicon Valley. How many tokens comes along with my job?" His reasoning is simple: tokens make engineers more productive. As he puts it, "every engineer that has access to tokens will be more productive and those tokens as you know will be produced by AI factories that all of you and us we partner to build." Huang then zooms out to describe how this reshapes the nature of companies themselves: "Every single enterprise company in today sit on top of file systems and data centers. Every single software company of the future will be agentic and they will be token manufacturers. They be token users for their engineers and they'll be token manufacturers for all of their customers."

Big Brain AI

90,171 views • 3 months ago

Factory CEO Matan Grinberg says all companies go through three phases of AI adoption: "Phase Zero is reluctance to adopt because developers have had the same workflows for the last 20 years and they might not want to change it." "Phase One is throw the kitchen sink and use as much AI as possible. Whatever you do, just change your workflows." "Phase Two is that people are now adopting the tech, they're proving that they can change their behavior, and use these tools. But now we need to make sure we're actually doing it efficiently and effectively. Uber and Meta are examples of this." "Yes, you'll overspend in Phase One, but the point is to get to Phase Two where then you're actually really efficient on a per-token basis, moving the needle for the business and delivering software faster."
0:56

Factory CEO Matan Grinberg says all companies go through three phases of AI adoption: "Phase Zero is reluctance to adopt because developers have had the same workflows for the last 20 years and they might not want to change it." "Phase One is throw the kitchen sink and use as much AI as possible. Whatever you do, just change your workflows." "Phase Two is that people are now adopting the tech, they're proving that they can change their behavior, and use these tools. But now we need to make sure we're actually doing it efficiently and effectively. Uber and Meta are examples of this." "Yes, you'll overspend in Phase One, but the point is to get to Phase Two where then you're actually really efficient on a per-token basis, moving the needle for the business and delivering software faster."

TBPN

25,747 views • 4 months ago