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JENSEN HUANG UNVEILED A BOARD THAT RUNS 1 TRILLION PARAMETER AI MODELS. THE $249 NVIDIA BOX UNDER YOUR DESK KILLS A $200/MONTH AI BILL FOR $5 IN ELECTRICITY jensen held it up on stage with one hand and called it the architecture that runs the future of ai. that...

54,448 görüntüleme • 2 ay önce •via X (Twitter)

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The world just paid $2 trillion for a rocket company that lost $4.9 billion last year. And the rockets are not why it lost the money. They are the only part making any. SpaceX went public Friday, the largest IPO in history. Up 19%, a $2 trillion valuation, Elon Musk the first trillionaire. Then you open the filing. Three businesses sit inside it. Starlink, the satellites, brought in $11.4 billion, 61% of all revenue, and $4.4 billion in profit. It is the only piece that earns a dollar. The rockets that land themselves run a small loss reinvesting in Starship. And the AI arm, Grok plus the app once called Twitter, folded in this February, lost $6.4 billion in a single year on $12.7 billion of spending. Read that again. The satellites pay for everything. The AI loses more than the satellites make. And the AI is the part the market fell in love with. It gets bolder. The prospectus claims a total market of $28.5 trillion, the largest any company has ever put in a filing. Larger than the GDP of the United States. That is the number underwriting a $2 trillion price tag built on a division bleeding $6 billion a year. Now the structure. About 4% of the company trades. That sliver sets the price for all of it. Musk is locked up for 366 days and holds roughly 80% of the votes. The public bought a company they cannot steer, priced on the one segment losing the most. This is the whole year in one ticker. The profit is satellites. The story is AI. The market bought the story. The rockets were never the risk. The risk is a $2 trillion price resting on the one bet that has yet to make a cent.

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The next iPhone will cost more, and the reason has almost nothing to do with Apple. The chip that stores your photos cost Apple about 13 dollars last year. This year it runs around 51. Multiply that across every phone, laptop, and console on earth, and you are looking at the first consumer bill for the AI boom, arriving in the pocket of someone who never asked for it. Tim Cook, who has run Apple's supply chain for forty years, called it a hundred-year flood, something he has never seen. Memory prices have quadrupled in places. The cause is brutally simple. AI data centers are now expected to swallow roughly 70 percent of the world's memory production this year. Seven chips in ten go to server farms. Phones, cars, and laptops fight over the three that are left. This is one force wearing two faces. The same AI demand making the device in your hand more expensive is minting record fortunes for the handful of companies that feed it. Memory makers in Seoul just hit all-time highs in the same week Apple warned you to brace for higher prices. The shortage and the windfall are the identical event, seen from opposite ends. Then comes the part almost no one traces all the way down. Beneath the chips sit rare earth minerals, and one country controls them. China processes around 90 percent of the world's rare earths and makes roughly 94 percent of the high-performance magnets that spin inside every fab and cooling system. The polishing compound that finishes a wafer, the magnets in the machines that build it, run through Beijing. And through 2025, China has been turning that grip into leverage, licensing what leaves. So the chain is complete. AI wants memory, memory needs minerals, and the minerals answer to one government. The price of your phone is now a foreign policy.

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