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The defining differentiator in AI right now isn't model performance, it's cost per token. Because in this market, efficiency is what turns demand into actual growth. Roman Chernin of Nebius outlines why inference economics are becoming the central challenge, as companies operating on thin margins need infrastructure that can... show more

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Interview with Nebius Co-Founder Roman Chernin Please like & share this video so that all $NBIS investors on X will see it! :) If you prefer watching on YouTube: Timestamps: 00:00 - Why AI Infrastructure Is So Hard to Understand 00:24 - Market Fragmentation and What Actually Differentiates Providers 01:30 - Consolidation, Segmentation, and the Future AI Cloud Landscape 02:56 - What Analysts and VCs Still Get Wrong About AI Infrastructure 05:34 - Nebius Cloud: Product Readiness and Customer Proof Points 07:42 - Why Inference Workloads Are Exploding 09:11 - Training vs. Inference: How AI Models Actually Reach Production 10:10 - Why Inference Market Share May Concentrate Around a Few Winners 12:36 - Customer Use Cases: Coding, Enterprise AI, and Real-World Adoption 14:01 - Why Integrated Training and Inference Matter Strategically 16:01 - Building Scalable AI Infrastructure With High Utilization 18:24 - Token Factory: Inference as a Managed Service 20:24 - Revolut Case Study: AI-Driven Product Enhancements 22:56 - Token Factory Performance Optimization and Competitive Advantage 25:07 - Scale, Capacity, and Efficiency as Growth Drivers 28:36 - Why Inference Capacity Could Become the Next Major Bottleneck 30:10 - How Nebius Benchmarks Performance Across Providers 33:14 - The Future Size and Shape of the Inference Market 36:38 - Value-Based Pricing: Moving Beyond Cost per GPU Hour 40:55 - How Nebius Wins Deals: Quality, Performance, and Customer Experience 44:53 - Autonomous AI Platforms and the Rise of Agent-Based Models 47:28 - Tavily, Agentic Applications, and the Next Layer of the AI Stack 50:45 - Strategic Trade-Offs: Scaling, Product Roadmap, and Customer Relevance 55:40 - Final Thoughts: Adapting to the Next Shift in AI Workloads Nebius Roman Chernin

Interview with Nebius Co-Founder Roman Chernin Please like & share this video so that all $NBIS investors on X will see it! :) If you prefer watching on YouTube: Timestamps: 00:00 - Why AI Infrastructure Is So Hard to Understand 00:24 - Market Fragmentation and What Actually Differentiates Providers 01:30 - Consolidation, Segmentation, and the Future AI Cloud Landscape 02:56 - What Analysts and VCs Still Get Wrong About AI Infrastructure 05:34 - Nebius Cloud: Product Readiness and Customer Proof Points 07:42 - Why Inference Workloads Are Exploding 09:11 - Training vs. Inference: How AI Models Actually Reach Production 10:10 - Why Inference Market Share May Concentrate Around a Few Winners 12:36 - Customer Use Cases: Coding, Enterprise AI, and Real-World Adoption 14:01 - Why Integrated Training and Inference Matter Strategically 16:01 - Building Scalable AI Infrastructure With High Utilization 18:24 - Token Factory: Inference as a Managed Service 20:24 - Revolut Case Study: AI-Driven Product Enhancements 22:56 - Token Factory Performance Optimization and Competitive Advantage 25:07 - Scale, Capacity, and Efficiency as Growth Drivers 28:36 - Why Inference Capacity Could Become the Next Major Bottleneck 30:10 - How Nebius Benchmarks Performance Across Providers 33:14 - The Future Size and Shape of the Inference Market 36:38 - Value-Based Pricing: Moving Beyond Cost per GPU Hour 40:55 - How Nebius Wins Deals: Quality, Performance, and Customer Experience 44:53 - Autonomous AI Platforms and the Rise of Agent-Based Models 47:28 - Tavily, Agentic Applications, and the Next Layer of the AI Stack 50:45 - Strategic Trade-Offs: Scaling, Product Roadmap, and Customer Relevance 55:40 - Final Thoughts: Adapting to the Next Shift in AI Workloads Nebius Roman Chernin

Daniel Koss

203,706 görüntüleme • 3 ay önce

My full interview with Roman Chernin, Co-founder & Chief Business Officer of Nebius Nebius just signed a $17 billion deal with Microsoft and a $3 billion deal with Meta. These are two of the biggest tech companies on Earth - and they're coming to Nebius for AI infrastructure. But the company does so much more than that: - Full-stack AI cloud (data centers → software → managed services) - Nebius Token Factory Nebius Token Factory for managed inference & post-training - Partners include Shopify, Higgsfield, Jetbrains My 5 takeaways with Roman Chernin below - thanks for the conversation! Full interview also available on YT ⬇️ Timestamps: 00:00 - Introduction 01:47 - Overview of Nebius $NBIS 03:23 - Roman's background and role at Nebius 04:10 - The $17B Microsoft & $3B Meta deals 05:29 - Why hyperscalers trust Nebius over building in-house 07:06 - Nebius's full-stack approach: Data centers to managed services 08:39 - Customer segmentation: Hyperscalers & Frontier AI Labs vs AI Startups vs Enterprises 14:41 - Token Factory explained: Managed inference & post-training 17:41 - When to switch from closed-source to open-source models 20:59 - Real results: Process achieves 26% cost reduction 25:05 - Why developers love building on Nebius 28:40 - AI agents and the future of infrastructure interaction 32:22 - NVIDIA's Groq acquisition: What it means for inference 35:38 - Why AI adoption will surprise us

My full interview with Roman Chernin, Co-founder & Chief Business Officer of Nebius Nebius just signed a $17 billion deal with Microsoft and a $3 billion deal with Meta. These are two of the biggest tech companies on Earth - and they're coming to Nebius for AI infrastructure. But the company does so much more than that: - Full-stack AI cloud (data centers → software → managed services) - Nebius Token Factory Nebius Token Factory for managed inference & post-training - Partners include Shopify, Higgsfield, Jetbrains My 5 takeaways with Roman Chernin below - thanks for the conversation! Full interview also available on YT ⬇️ Timestamps: 00:00 - Introduction 01:47 - Overview of Nebius $NBIS 03:23 - Roman's background and role at Nebius 04:10 - The $17B Microsoft & $3B Meta deals 05:29 - Why hyperscalers trust Nebius over building in-house 07:06 - Nebius's full-stack approach: Data centers to managed services 08:39 - Customer segmentation: Hyperscalers & Frontier AI Labs vs AI Startups vs Enterprises 14:41 - Token Factory explained: Managed inference & post-training 17:41 - When to switch from closed-source to open-source models 20:59 - Real results: Process achieves 26% cost reduction 25:05 - Why developers love building on Nebius 28:40 - AI agents and the future of infrastructure interaction 32:22 - NVIDIA's Groq acquisition: What it means for inference 35:38 - Why AI adoption will surprise us

Elliot Garreffa

29,660 görüntüleme • 6 ay önce

🎙️ Want a full breakdown on why cost per token is a key metric for AI infrastructure TCO? We’re operating in a power-constrained world. Demand for intelligence is scaling faster than infrastructure can keep up—so metrics like cost per GPU hour or FLOPs per dollar don’t tell the full story. When it comes to TCO, Cost per Token is the metric that captures end-to-end performance across GPUs, CPUs, networking, software, and ecosystem making it the key driver of real profitability and scalability in AI. If you’re not measuring efficiency at the token level, you’re missing what actually drives cost. Watch the deep-dive conversation with Dr. Gerro Prinsloo , Nader Khalil and Carter Abdallah, live on the NVIDIA YouTube channel.

🎙️ Want a full breakdown on why cost per token is a key metric for AI infrastructure TCO? We’re operating in a power-constrained world. Demand for intelligence is scaling faster than infrastructure can keep up—so metrics like cost per GPU hour or FLOPs per dollar don’t tell the full story. When it comes to TCO, Cost per Token is the metric that captures end-to-end performance across GPUs, CPUs, networking, software, and ecosystem making it the key driver of real profitability and scalability in AI. If you’re not measuring efficiency at the token level, you’re missing what actually drives cost. Watch the deep-dive conversation with Dr. Gerro Prinsloo , Nader Khalil and Carter Abdallah, live on the NVIDIA YouTube channel.

NVIDIA

21,970 görüntüleme • 4 ay önce

10x more tokens/second per megawatt as measured by CoreWeave on NVIDIA Vera Rubin platform. That performance reflects a bigger shift in AI infrastructure economics: building AI factories that efficiently turn compute into tokens, and tokens into revenue. It takes extreme co-design across the full stack, combined with an open ecosystem built to innovate and scale. Dion Harris connects the economics to the technology with 5 critical questions every AI infrastructure leader should be asking across compute, networking, storage, software and security. ➡️

10x more tokens/second per megawatt as measured by CoreWeave on NVIDIA Vera Rubin platform. That performance reflects a bigger shift in AI infrastructure economics: building AI factories that efficiently turn compute into tokens, and tokens into revenue. It takes extreme co-design across the full stack, combined with an open ecosystem built to innovate and scale. Dion Harris connects the economics to the technology with 5 critical questions every AI infrastructure leader should be asking across compute, networking, storage, software and security. ➡️

NVIDIA AI Infrastructure

21,718 görüntüleme • 3 gün önce

the IBM earnings reinforced something I think Wall Street is still underestimating: IBM is becoming an operating system for enterprise AI. The initial earnings reaction focused on the familiar metrics—revenue growth, infrastructure, margins and quarterly expectations. But that misses the bigger transformation underway. The AI market is bifurcating. On one side are companies building frontier models. On the other are companies helping enterprises operationalize AI—integrating it with existing systems and data, governing it, securing it, and turning AI into measurable business outcomes. IBM is increasingly positioning itself for that second market. And that's important because the enterprise AI conversation is moving from models to tools, from experimentation to outcomes, and ultimately toward autonomy and agents. IBM has decades of enterprise infrastructure, software, data and consulting relationships sitting underneath that transition. The mainframe isn't necessarily legacy in this world—it can become part of the context and transaction infrastructure AI acts upon. Wall Street initially looked at the quarter. I think the more important question is what IBM is becoming. My commentary below. #IBM #AI #EnterpriseAI #AgenticAI #HybridCloud

the IBM earnings reinforced something I think Wall Street is still underestimating: IBM is becoming an operating system for enterprise AI. The initial earnings reaction focused on the familiar metrics—revenue growth, infrastructure, margins and quarterly expectations. But that misses the bigger transformation underway. The AI market is bifurcating. On one side are companies building frontier models. On the other are companies helping enterprises operationalize AI—integrating it with existing systems and data, governing it, securing it, and turning AI into measurable business outcomes. IBM is increasingly positioning itself for that second market. And that's important because the enterprise AI conversation is moving from models to tools, from experimentation to outcomes, and ultimately toward autonomy and agents. IBM has decades of enterprise infrastructure, software, data and consulting relationships sitting underneath that transition. The mainframe isn't necessarily legacy in this world—it can become part of the context and transaction infrastructure AI acts upon. Wall Street initially looked at the quarter. I think the more important question is what IBM is becoming. My commentary below. #IBM #AI #EnterpriseAI #AgenticAI #HybridCloud

John Furrier

47,663 görüntüleme • 28 gün önce

AI in the network is shifting the conversation beyond GPUs. At MWC 2026, Intel's Kevork Kechichian, EVP & GM of the Data Center Group, explains why inference workloads are bringing CPUs back into focus, especially in telco environments where power, space, and efficiency matter. With platforms like Intel Xeon and Clearwater Forest, operators are seeing up to 30% performance gains and 60% better power efficiency, helping scale AI workloads without overhauling infrastructure. As networks evolve toward AI-driven operations and 6G, one principle is becoming clear: The future of AI infrastructure is about using the right compute for the right workload.

AI in the network is shifting the conversation beyond GPUs. At MWC 2026, Intel's Kevork Kechichian, EVP & GM of the Data Center Group, explains why inference workloads are bringing CPUs back into focus, especially in telco environments where power, space, and efficiency matter. With platforms like Intel Xeon and Clearwater Forest, operators are seeing up to 30% performance gains and 60% better power efficiency, helping scale AI workloads without overhauling infrastructure. As networks evolve toward AI-driven operations and 6G, one principle is becoming clear: The future of AI infrastructure is about using the right compute for the right workload.

Six Five Media

131,501 görüntüleme • 5 ay önce

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 ↓

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 görüntüleme • 24 gün önce

Mark my words, Nebius will be the first Trillion dollar Neo-cloud company and here is why (Save this). Roman Chernin, CEO of Nebius just said on 20VC that Nebius raised prices and demand didn't move. When a company can raise prices and still have more demand than supply, that's the opportunity. Chernin also explained why he is deliberately not charging the maximum. As AI shifts from training, a one time cost to inference, which is the ongoing cost of serving every user and every query, compute pricing becomes the cost structure of the entire AI economy. If Nebius prices customers out, those customers cannot grow, and Nebius cannot grow with them. That is the compounding flywheel built directly into the revenue model. The numbers are already confirming it. Q1 2026 revenue came in at $399 million, up 684% year over year. The AI cloud segment grew 840% and represented 98% of total revenue. Adjusted EBITDA flipped positive to $129.5 million. And Nebius signed a long-term agreement with Meta worth up to $27 billion over five years, a hyperscaler outsourcing its own AI compute stack to a neocloud, which tells you that even companies with $50 billion capex budgets cannot build fast enough. Goldman Sachs says the consensus is underestimating 2027 hyperscaler capex by $500 billion. Every dollar hyperscalers cannot provision themselves flows to neoclouds like Nebius. As that gap widens, Nebius captures the overflow with 3 gigawatts of contracted power already secured and a CEO who just told you raising prices did not dent demand. Our subscribers are already up massively on Nebius and come join Milk Road Pro for our full breakdown, how to size Nebius against the broader neocloud opportunity, and our full AI thesis. Link below!

Mark my words, Nebius will be the first Trillion dollar Neo-cloud company and here is why (Save this). Roman Chernin, CEO of Nebius just said on 20VC that Nebius raised prices and demand didn't move. When a company can raise prices and still have more demand than supply, that's the opportunity. Chernin also explained why he is deliberately not charging the maximum. As AI shifts from training, a one time cost to inference, which is the ongoing cost of serving every user and every query, compute pricing becomes the cost structure of the entire AI economy. If Nebius prices customers out, those customers cannot grow, and Nebius cannot grow with them. That is the compounding flywheel built directly into the revenue model. The numbers are already confirming it. Q1 2026 revenue came in at $399 million, up 684% year over year. The AI cloud segment grew 840% and represented 98% of total revenue. Adjusted EBITDA flipped positive to $129.5 million. And Nebius signed a long-term agreement with Meta worth up to $27 billion over five years, a hyperscaler outsourcing its own AI compute stack to a neocloud, which tells you that even companies with $50 billion capex budgets cannot build fast enough. Goldman Sachs says the consensus is underestimating 2027 hyperscaler capex by $500 billion. Every dollar hyperscalers cannot provision themselves flows to neoclouds like Nebius. As that gap widens, Nebius captures the overflow with 3 gigawatts of contracted power already secured and a CEO who just told you raising prices did not dent demand. Our subscribers are already up massively on Nebius and come join Milk Road Pro for our full breakdown, how to size Nebius against the broader neocloud opportunity, and our full AI thesis. Link below!

Milk Road AI

15,677 görüntüleme • 2 ay önce

$This is the biggest irony in tech history. Microsoft beat revenue estimates. Stock plunged 11%, wiped out $400 BILLION in market cap. Salesforce reported growth. Stock fell 5.6%. ServiceNow beat earnings. Stock crashed 11%. SAP beat projections. Stock dropped 16%. Entire software sector entered bear market territory. Down 22% from peak. These are the companies everyone said would WIN from AI. They spent billions BUYING AI companies. ServiceNow: $7.75 billion for Armis. Salesforce: $8 billion for Informatica. They launched AI products. Built AI workflows. Hired AI teams. And the market said: You're all dead. Because investors just realized something nobody wanted to admit: AI doesn't make software companies stronger. AI makes software companies OBSOLETE. Morgan Stanley: "In an environment of heightened investor skepticism, stable growth falls short of shifting the narrative." Good earnings aren't enough anymore. The market is pricing in a world where AI replaces the software these companies sell. ServiceNow CEO tried defending on the earnings call: "AI needs workflow orchestration. ServiceNow is the gateway to this shift." Market response: 11% crash. Because here's what he didn't say: If AI can write code, automate workflows, and generate apps at a fraction of the cost, why would anyone pay $50,000 per year for enterprise software licenses? The per-seat pricing model that made SaaS companies rich is getting murdered by AI efficiency. One AI agent replaces 10 seats. One prompt replaces months of custom development. One LLM call replaces entire software categories. Klarna already proved it. CEO said they pulled Salesforce out of their stack. Built everything themselves using AI. And that's just the beginning. The software apocalypse hit hardest on companies that INVESTED IN AI: Atlassian: down 12.6% Intuit: down 7.8% HubSpot: down 11.5% Zscaler: down 6.3% Meanwhile, the companies ENABLING AI made money: Nvidia: up Semiconductor stocks: surging Memory firms: rallying The divide is brutal. Hardware companies print cash. Software companies get destroyed. Because in an AI-first world, you need GPUs to build the models. But you don't need software subscriptions when the AI builds the software for you. Jim Cramer called it the "P/E multiple compression crisis." Translation: Investors don't care about earnings anymore. They care about whether your business model survives the next 5 years. And right now software business models look doomed. They're literally stuck: If they DON'T invest in AI, they fall behind. If they DO invest in AI, they cannibalize their own products. It's a death spiral with no exit. ServiceNow spent $12 BILLION on acquisitions in 2025 alone. Trying to buy their way into relevance. And yesterday the market cooked them. The craziest thing to me tho... Most software companies beat earnings. Revenue was solid. Growth was fine. But it didn't matter. Because the market stopped pricing software on what it earns TODAY. It's pricing software on what it's worth in a world where AI does the job for free. And in that world these companies are worth nothing. This is the biggest sector repricing since 2008. $500 billion in market value gone in ONE DAY. And it's not stopping. Because every company watching this is thinking the same thing: "If I can replace ServiceNow with 3 AI agents and save $10 million per year, why wouldn't I?" The answer used to be: "Because you need enterprise-grade reliability." But now? AI agents are getting reliable. Fast. Software companies just realized they're competing with open-source models that cost $0.02 per 1,000 tokens. You can't win a pricing war against free. The companies that spent BILLIONS preparing for AI are getting killed BY AI. What an irony.$

This is the biggest irony in tech history. Microsoft beat revenue estimates. Stock plunged 11%, wiped out $400 BILLION in market cap. Salesforce reported growth. Stock fell 5.6%. ServiceNow beat earnings. Stock crashed 11%. SAP beat projections. Stock dropped 16%. Entire software sector entered bear market territory. Down 22% from peak. These are the companies everyone said would WIN from AI. They spent billions BUYING AI companies. ServiceNow: $7.75 billion for Armis. Salesforce: $8 billion for Informatica. They launched AI products. Built AI workflows. Hired AI teams. And the market said: You're all dead. Because investors just realized something nobody wanted to admit: AI doesn't make software companies stronger. AI makes software companies OBSOLETE. Morgan Stanley: "In an environment of heightened investor skepticism, stable growth falls short of shifting the narrative." Good earnings aren't enough anymore. The market is pricing in a world where AI replaces the software these companies sell. ServiceNow CEO tried defending on the earnings call: "AI needs workflow orchestration. ServiceNow is the gateway to this shift." Market response: 11% crash. Because here's what he didn't say: If AI can write code, automate workflows, and generate apps at a fraction of the cost, why would anyone pay $50,000 per year for enterprise software licenses? The per-seat pricing model that made SaaS companies rich is getting murdered by AI efficiency. One AI agent replaces 10 seats. One prompt replaces months of custom development. One LLM call replaces entire software categories. Klarna already proved it. CEO said they pulled Salesforce out of their stack. Built everything themselves using AI. And that's just the beginning. The software apocalypse hit hardest on companies that INVESTED IN AI: Atlassian: down 12.6% Intuit: down 7.8% HubSpot: down 11.5% Zscaler: down 6.3% Meanwhile, the companies ENABLING AI made money: Nvidia: up Semiconductor stocks: surging Memory firms: rallying The divide is brutal. Hardware companies print cash. Software companies get destroyed. Because in an AI-first world, you need GPUs to build the models. But you don't need software subscriptions when the AI builds the software for you. Jim Cramer called it the "P/E multiple compression crisis." Translation: Investors don't care about earnings anymore. They care about whether your business model survives the next 5 years. And right now software business models look doomed. They're literally stuck: If they DON'T invest in AI, they fall behind. If they DO invest in AI, they cannibalize their own products. It's a death spiral with no exit. ServiceNow spent $12 BILLION on acquisitions in 2025 alone. Trying to buy their way into relevance. And yesterday the market cooked them. The craziest thing to me tho... Most software companies beat earnings. Revenue was solid. Growth was fine. But it didn't matter. Because the market stopped pricing software on what it earns TODAY. It's pricing software on what it's worth in a world where AI does the job for free. And in that world these companies are worth nothing. This is the biggest sector repricing since 2008. $500 billion in market value gone in ONE DAY. And it's not stopping. Because every company watching this is thinking the same thing: "If I can replace ServiceNow with 3 AI agents and save $10 million per year, why wouldn't I?" The answer used to be: "Because you need enterprise-grade reliability." But now? AI agents are getting reliable. Fast. Software companies just realized they're competing with open-source models that cost $0.02 per 1,000 tokens. You can't win a pricing war against free. The companies that spent BILLIONS preparing for AI are getting killed BY AI. What an irony.

Ricardo

1,815,322 görüntüleme • 6 ay önce

As AI labs race to train and deploy new frontier models, existing models become more affordable with better tokenomics. ✨ "Everybody's trying to get to the next frontier. And every time they get to the next frontier, the last generation AI tokens, the cost starts to decline about a factor of 10x every year," said NVIDIA CEO Jensen Huang in a recent keynote. Model optimization techniques such as speculative decoding and multi-token prediction, combined with inference serving platforms like NVIDIA Dynamo on NVIDIA Blackwell NVL72 systems, enable AI factories to boost throughput by 10x with one-tenth of the cost per token. Learn more about AI factory tokenomics ➡️

As AI labs race to train and deploy new frontier models, existing models become more affordable with better tokenomics. ✨ "Everybody's trying to get to the next frontier. And every time they get to the next frontier, the last generation AI tokens, the cost starts to decline about a factor of 10x every year," said NVIDIA CEO Jensen Huang in a recent keynote. Model optimization techniques such as speculative decoding and multi-token prediction, combined with inference serving platforms like NVIDIA Dynamo on NVIDIA Blackwell NVL72 systems, enable AI factories to boost throughput by 10x with one-tenth of the cost per token. Learn more about AI factory tokenomics ➡️

NVIDIA AI

16,053 görüntüleme • 7 ay önce

$Mark Zuckerberg is explaining one of the most misunderstood dynamics in AI and it has direct investment implications (Save this). The concept he's describing is model distillation, and it's one of the most important techniques to emerge in AI over the past year. Here's how it works. You train a massive, enormously expensive model, in Meta's case, Llama 4 Behemoth, a 2 trillion parameter teacher model and then you use that model to teach a much smaller, cheaper model. The smaller model inherits roughly 90 to 95% of the intelligence of the giant while running at 10% of the cost and on a fraction of the compute. Meta already did this with the Llama 4 family and Behemoth serves as the teacher. Llama 4 Scout and Maverick, the publicly released open-source models were distilled from it. Scout runs on a single H100 GPU with a 10 million token context window and outperforms models that cost far more to operate. Maverick, at 17 billion active parameters, rivals DeepSeek V3 in coding at half the parameter count and beats GPT-4o on multimodal benchmarks. Both are completely free for commercial use. What Zuckerberg is pointing at is a structural shift in how AI gets deployed in the real world. Companies aren't taking a frontier model off the shelf and running it as-is but rather taking open-source models, fine-tuning them on their own proprietary data, distilling them into even smaller custom models tailored to their specific use case, and running them on infrastructure they control at a fraction of the cost of a closed frontier API. The investment implication of this is significant and runs in two directions. For Meta specifically, this is a strategic masterstroke. Every company that builds on Llama, fine-tunes it, distills it, or deploys it through their infrastructure is pulling into Meta's orbit while Meta builds the most powerful open teacher model. The ecosystem of companies using it grows and that ecosystem generates commercial activity across Meta's platforms and data services. Meta's AI research benefits from billions of real world deployment signals and it's a flywheel that closed model providers cannot replicate because their strategy requires charging per token, which is now a 65x cost disadvantage against the open-source alternative. For the broader market, distillation changes the economics of inference in a way that has barely been priced in. As intelligence becomes extractable into smaller and cheaper models, the absolute demand for compute doesn't decline but rather it explodes, because now the number of applications that are economically viable expands by orders of magnitude. Every task that was previously too expensive to automate at $3.25 per call becomes viable at $0.05 that means more total token usage, more total GPU utilization, and more demand for the infrastructure companies, the Nebiuses, the GE Vernovas, the Constellation Energies that supply the underlying compute and power.$

Mark Zuckerberg is explaining one of the most misunderstood dynamics in AI and it has direct investment implications (Save this). The concept he's describing is model distillation, and it's one of the most important techniques to emerge in AI over the past year. Here's how it works. You train a massive, enormously expensive model, in Meta's case, Llama 4 Behemoth, a 2 trillion parameter teacher model and then you use that model to teach a much smaller, cheaper model. The smaller model inherits roughly 90 to 95% of the intelligence of the giant while running at 10% of the cost and on a fraction of the compute. Meta already did this with the Llama 4 family and Behemoth serves as the teacher. Llama 4 Scout and Maverick, the publicly released open-source models were distilled from it. Scout runs on a single H100 GPU with a 10 million token context window and outperforms models that cost far more to operate. Maverick, at 17 billion active parameters, rivals DeepSeek V3 in coding at half the parameter count and beats GPT-4o on multimodal benchmarks. Both are completely free for commercial use. What Zuckerberg is pointing at is a structural shift in how AI gets deployed in the real world. Companies aren't taking a frontier model off the shelf and running it as-is but rather taking open-source models, fine-tuning them on their own proprietary data, distilling them into even smaller custom models tailored to their specific use case, and running them on infrastructure they control at a fraction of the cost of a closed frontier API. The investment implication of this is significant and runs in two directions. For Meta specifically, this is a strategic masterstroke. Every company that builds on Llama, fine-tunes it, distills it, or deploys it through their infrastructure is pulling into Meta's orbit while Meta builds the most powerful open teacher model. The ecosystem of companies using it grows and that ecosystem generates commercial activity across Meta's platforms and data services. Meta's AI research benefits from billions of real world deployment signals and it's a flywheel that closed model providers cannot replicate because their strategy requires charging per token, which is now a 65x cost disadvantage against the open-source alternative. For the broader market, distillation changes the economics of inference in a way that has barely been priced in. As intelligence becomes extractable into smaller and cheaper models, the absolute demand for compute doesn't decline but rather it explodes, because now the number of applications that are economically viable expands by orders of magnitude. Every task that was previously too expensive to automate at $3.25 per call becomes viable at $0.05 that means more total token usage, more total GPU utilization, and more demand for the infrastructure companies, the Nebiuses, the GE Vernovas, the Constellation Energies that supply the underlying compute and power.

Milk Road AI

27,908 görüntüleme • 1 ay önce

When AI agents start making the infrastructure decisions humans used to make, your go-to-market changes completely. Rotem Weiss, Founder & CEO of Tavily, on how Tavily reached 1 million users without outbound sales and why the winners in AI now are the ones cutting latency and token costs, not shipping the best model. Hear the podcast:

When AI agents start making the infrastructure decisions humans used to make, your go-to-market changes completely. Rotem Weiss, Founder & CEO of Tavily, on how Tavily reached 1 million users without outbound sales and why the winners in AI now are the ones cutting latency and token costs, not shipping the best model. Hear the podcast:

Nebius

15,228 görüntüleme • 2 ay önce

$AI shouldn’t be controlled by a single company or person, and the reason why most AI tools are "free" is because you are the product. Your data is more valuable to them, than the tool itself. That's why Action Model is different. We use tokens so: • Every AI action has a real cost • That cost is transparent • Value flows back to contributors, not one corporation The token represents a fractional stake in the AI itself; economic rights, governance rights, and participation in its growth. And that’s how you run AI without centralized control.$

AI shouldn’t be controlled by a single company or person, and the reason why most AI tools are "free" is because you are the product. Your data is more valuable to them, than the tool itself. That's why Action Model is different. We use tokens so: • Every AI action has a real cost • That cost is transparent • Value flows back to contributors, not one corporation The token represents a fractional stake in the AI itself; economic rights, governance rights, and participation in its growth. And that’s how you run AI without centralized control.

Action Model

47,452 görüntüleme • 6 ay önce

$NBIS cofounder Roman Chernin describes how their recent acquisitions of Eigen AI and Clarifai were all about speed, incredible talent, and acceleration: "The philosophy is very simple. We need to build so many things, and we need to move so fast, that we're always looking for people who can accelerate us. It should be exceptional talent, and/or something that has a great adoption." "Our two recent acquisitions [were] two teams that work on inference optimization. A big part of our business is how efficiently we convert GPUs into tokens. And these two teams — Eigen AI and Clarifai — one is focused on model optimization, the engine of inference. How you run specific models and all the techniques around spec decoding, quantization, and so on." "And the other is system optimization. All the routing, KV caching, and orchestration across the big cluster of compute and so on." "We have a very strong internal team working on inference. But we felt that we needed to move faster, bring more capabilities. Because the market is so fast."

$NBIS cofounder Roman Chernin describes how their recent acquisitions of Eigen AI and Clarifai were all about speed, incredible talent, and acceleration: "The philosophy is very simple. We need to build so many things, and we need to move so fast, that we're always looking for people who can accelerate us. It should be exceptional talent, and/or something that has a great adoption." "Our two recent acquisitions [were] two teams that work on inference optimization. A big part of our business is how efficiently we convert GPUs into tokens. And these two teams — Eigen AI and Clarifai — one is focused on model optimization, the engine of inference. How you run specific models and all the techniques around spec decoding, quantization, and so on." "And the other is system optimization. All the routing, KV caching, and orchestration across the big cluster of compute and so on." "We have a very strong internal team working on inference. But we felt that we needed to move faster, bring more capabilities. Because the market is so fast."

TBPN

30,608 görüntüleme • 3 ay önce

Liquid AI (Liquid AI) CEO Ramin Hasani (Ramin) says: "We're bringing the cost of tokens to zero." "The axis was maximizing intelligence at all costs." Foundation models need to optimize across 3 axes: 1.) Intelligence and capability 2.) Efficiency and cost 3.) Substrate: where the intelligence actually runs "Efficiency is not an afterthought. Energy is not abundant." "If you maximize intelligence at all costs, that axis alone is not going to get you to the place that you want to go." "Efficiency and cost of intelligence as a first-class citizen, and not an afterthought." "Where does this intelligence system go? AI is majorly getting hosted in data centers, but you could also bring intelligence on phones, on laptops, on airplanes, on cars." "Imagine if it's not tokens that are actually important. It's just the outcome that actually matters." "Not just thinking about foundation models as the token machines that are generating money and revenue for the foundation model companies that are useless tokens, and getting them into the place where they can actually unlock true value for enterprises."

Liquid AI (Liquid AI) CEO Ramin Hasani (Ramin) says: "We're bringing the cost of tokens to zero." "The axis was maximizing intelligence at all costs." Foundation models need to optimize across 3 axes: 1.) Intelligence and capability 2.) Efficiency and cost 3.) Substrate: where the intelligence actually runs "Efficiency is not an afterthought. Energy is not abundant." "If you maximize intelligence at all costs, that axis alone is not going to get you to the place that you want to go." "Efficiency and cost of intelligence as a first-class citizen, and not an afterthought." "Where does this intelligence system go? AI is majorly getting hosted in data centers, but you could also bring intelligence on phones, on laptops, on airplanes, on cars." "Imagine if it's not tokens that are actually important. It's just the outcome that actually matters." "Not just thinking about foundation models as the token machines that are generating money and revenue for the foundation model companies that are useless tokens, and getting them into the place where they can actually unlock true value for enterprises."

Molly O’Shea

12,816 görüntüleme • 1 ay önce

Bloomberg warns that China’s AI price war may make profitability difficult for years. They should be more worried about Wall Street. If the price war continues, the real casualty may not be AI. It may be the entire valuation structure built around it. OpenAI and Anthropic are valued as though frontier intelligence will remain scarce, expensive, and capable of producing software-like margins. Hyperscalers are spending hundreds of billions on infrastructure based on that assumption. Nvidia’s valuation depends on those capital expenditures continuing for years. But Chinese models are driving token prices toward commodity levels. Usage can explode while revenue per token collapses. The servers become busier. The models become cheaper. The profits fail to appear. Nvidia has real revenue and real margins, so it is not the weakest link. But even Nvidia is priced on the belief that today’s extraordinary AI capital expenditure will remain economically justified. If cheaper models, better efficiency, and open weights destroy the expected returns on that infrastructure, Wall Street will not merely reprice OpenAI and Anthropic. It will reprice the entire AI chain. America built the AI bubble on Nvidia. Nvidia built its empire on TSMC. Taiwan built its economic security around TSMC. If Chinese efficiency destroys the economics of brute-force AI, the repricing will not stop in Silicon Valley. It will cross the Pacific and land in Hsinchu. AI may continue transforming the world while the AI bubble collapses. The internet survived 2000. The valuations did not.

Bloomberg warns that China’s AI price war may make profitability difficult for years. They should be more worried about Wall Street. If the price war continues, the real casualty may not be AI. It may be the entire valuation structure built around it. OpenAI and Anthropic are valued as though frontier intelligence will remain scarce, expensive, and capable of producing software-like margins. Hyperscalers are spending hundreds of billions on infrastructure based on that assumption. Nvidia’s valuation depends on those capital expenditures continuing for years. But Chinese models are driving token prices toward commodity levels. Usage can explode while revenue per token collapses. The servers become busier. The models become cheaper. The profits fail to appear. Nvidia has real revenue and real margins, so it is not the weakest link. But even Nvidia is priced on the belief that today’s extraordinary AI capital expenditure will remain economically justified. If cheaper models, better efficiency, and open weights destroy the expected returns on that infrastructure, Wall Street will not merely reprice OpenAI and Anthropic. It will reprice the entire AI chain. America built the AI bubble on Nvidia. Nvidia built its empire on TSMC. Taiwan built its economic security around TSMC. If Chinese efficiency destroys the economics of brute-force AI, the repricing will not stop in Silicon Valley. It will cross the Pacific and land in Hsinchu. AI may continue transforming the world while the AI bubble collapses. The internet survived 2000. The valuations did not.

𝘊𝘰𝘳𝘳𝘪𝘯𝘦

13,927 görüntüleme • 18 gün önce

$PLTR $AMD | Dr. Karp and Dr. Su were right! ✍️ Companies are now fighting back. Dr. Karp, Palantir CEO, recently told CNBC that enterprises are privately "unhappy" with frontier AI labs like OpenAI and Anthropic, accusing them of prioritizing "tokenmaxxing" or maximizing AI token consumption to signal activity over delivering real business value and understanding customer needs. Uber, Coinbases routing to capping token usage or routing to cheaper models to keep cost under control. or Microsoft revoked Claude Code licenses companywide, Priceline imposed token limits after sharp cost spikes, and reports cite Meta, Salesforce, and multiple unnamed firms facing 3x+ budget overruns or $ hundreds of millions in unexpected spend by mid-2026. Analysts note this as an emerging industry pattern, with FinOps and executives describing "existential crises" over token bills; dozens of enterprises are now adding guardrails, though public complaints remain concentrated among high-profile tech firms experimenting at scale. Dr. Lisa Su anticipated the pivot to inference economics and CPU-dense systems for agentic AI, correctly predicting that token costs, power efficiency, and deployability on standard platforms would determine scalable adoption long before the current enterprise pushback. Dr. Alex Karp accurately diagnosed the disconnect in frontier labs' approach, calling out "tokenmaxxing" as activity without outcomes; enterprises are indeed demanding real implementation and business-specific value rather than raw volume that inflates bills without proportional ROI. Together, their independent foresight validates the maturing AI thesis, efficient infrastructure (AMD Helios/EPYC optimized for lowest TCO & $/M Tokens) paired with outcome-focused platforms (Palantir AIP/Foundry) positions both companies to benefit as the market shifts from hype-driven consumption to sustainable, value-driven deployment. Yes it may look good on the revenue growth for AI Labs to show off on IPOs investors/bankers, but the customers have to find value in those tokens spent where $NVDA & In-house chips on inference claims are just false. At the end of the day, ~Token cost needs to go down more & more particularly inference by owning more AMD chips/racks. In-house chips can make all kind of claims for years, but the bills enterprises paid have to obey economic. ~Enterprises want a thick software OS or solution focused, they do not want to have unlimited budget for "tokenmaxxing" where it is leading to high costs with limited business transformation; success increasingly depends on implementation layers that route tasks, enforce policies, and connect AI to existing workflows. Not Financial Advice! DYOR!

Mike

253,557 görüntüleme • 1 ay önce

Jonathan Ross just revealed why AI companies aren’t growing faster. Not demand. Not competition. Physics. Ross: “The demand for compute is insatiable.” There isn’t enough compute in the world. Not a temporary shortage. A fundamental gap between what the market wants and what the infrastructure can deliver. Ross: “Right now, one of the biggest complaints of Anthropic is the rate limits. People can’t get enough tokens.” Rate limits aren’t product decisions. They’re rationing. Companies forced to regulate access because infrastructure cannot meet demand. Slower services. Token caps. The only things standing between these companies and a revenue surge they can’t access. Every token cap is a revenue cap. Every slowdown is a sale that didn’t happen. Ross: “If Anthropic was given twice the inference compute, within one month their revenue would almost double.” Read that again. Double the compute. Double the revenue. Within thirty days. That’s not a growth projection. That’s a measurement of how deep the backlog already is. The demand exists right now. It’s sitting in a queue. The only thing between these companies and that revenue is physical hardware they don’t have. This breaks every assumption about how tech companies scale. Usually you scale by finding customers. AI companies have infinite customers. They scale by finding hardware. The constraint isn’t market fit. It isn’t distribution. It isn’t competition. It’s processing power. This is why Jensen Huang is the most important person in the world right now. NVIDIA doesn’t just make chips. It makes the thing every government, every AI lab, and every company racing for this future needs more of and can’t get enough of. The compute bottleneck isn’t a tech industry problem. It’s a civilizational one. The winner of this era isn’t determined by who builds the smartest model. Every major lab has a frontier model. The winner is whoever secures the most compute fastest while everyone else rations what’s left. The race isn’t for intelligence. It’s for infrastructure. And right now there isn’t enough to go around.

Jonathan Ross just revealed why AI companies aren’t growing faster. Not demand. Not competition. Physics. Ross: “The demand for compute is insatiable.” There isn’t enough compute in the world. Not a temporary shortage. A fundamental gap between what the market wants and what the infrastructure can deliver. Ross: “Right now, one of the biggest complaints of Anthropic is the rate limits. People can’t get enough tokens.” Rate limits aren’t product decisions. They’re rationing. Companies forced to regulate access because infrastructure cannot meet demand. Slower services. Token caps. The only things standing between these companies and a revenue surge they can’t access. Every token cap is a revenue cap. Every slowdown is a sale that didn’t happen. Ross: “If Anthropic was given twice the inference compute, within one month their revenue would almost double.” Read that again. Double the compute. Double the revenue. Within thirty days. That’s not a growth projection. That’s a measurement of how deep the backlog already is. The demand exists right now. It’s sitting in a queue. The only thing between these companies and that revenue is physical hardware they don’t have. This breaks every assumption about how tech companies scale. Usually you scale by finding customers. AI companies have infinite customers. They scale by finding hardware. The constraint isn’t market fit. It isn’t distribution. It isn’t competition. It’s processing power. This is why Jensen Huang is the most important person in the world right now. NVIDIA doesn’t just make chips. It makes the thing every government, every AI lab, and every company racing for this future needs more of and can’t get enough of. The compute bottleneck isn’t a tech industry problem. It’s a civilizational one. The winner of this era isn’t determined by who builds the smartest model. Every major lab has a frontier model. The winner is whoever secures the most compute fastest while everyone else rations what’s left. The race isn’t for intelligence. It’s for infrastructure. And right now there isn’t enough to go around.

Dustin

28,395 görüntüleme • 6 ay önce

🚨GLOBAL PAYMENTS ARE QUIETLY REPOSITIONING. MASTERCARD IS ALREADY OPERATING IN XRP RAILS, MOVING $9.7 TRILLION PER YEAR. THAT’S ONE NETWORK. APPLY THAT SCALE ACROSS MAJOR PAYMENT GIANTS AND $200+ #XRP ENTERS THE REALM OF LOGIC, NOT HYPE. THIS SHIFT ISN’T STOPPING AT PAYMENTS. THE XRP LEDGER IS EXPANDING INTO MEDIA. LEGACY MEDIA MODELS ARE BREAKING DOWN AS ON-CHAIN MEDIA GOES LIVE ON XRPL, POWERED BY BXE TOKEN — TRANSPARENT, DIRECT, AND DESIGNED TO PAY CREATORS WITHOUT INTERMEDIARIES. DYOR/NFA BXE TOKEN TRADE LINK ON XMAGNETIC: BXE TOKEN TRADE LINK ON MEXC:

🚨GLOBAL PAYMENTS ARE QUIETLY REPOSITIONING. MASTERCARD IS ALREADY OPERATING IN XRP RAILS, MOVING $9.7 TRILLION PER YEAR. THAT’S ONE NETWORK. APPLY THAT SCALE ACROSS MAJOR PAYMENT GIANTS AND $200+ #XRP ENTERS THE REALM OF LOGIC, NOT HYPE. THIS SHIFT ISN’T STOPPING AT PAYMENTS. THE XRP LEDGER IS EXPANDING INTO MEDIA. LEGACY MEDIA MODELS ARE BREAKING DOWN AS ON-CHAIN MEDIA GOES LIVE ON XRPL, POWERED BY BXE TOKEN — TRANSPARENT, DIRECT, AND DESIGNED TO PAY CREATORS WITHOUT INTERMEDIARIES. DYOR/NFA BXE TOKEN TRADE LINK ON XMAGNETIC: BXE TOKEN TRADE LINK ON MEXC:

JackTheRippler ©️

44,262 görüntüleme • 6 ay önce

A client accidentally spent $500M in one month on Claude. $16.6M per day. No usage controls. Chamath Palihapitiya on The All-In Podcast EP275: a Fortune-level company failed to set token limits. The bill arrived at end of month. A separate Fortune 20 company is 6 months into a $1B AI-driven OPEX reduction program. $200M in tokens spent. Minimal results. Microsoft is already canceling Claude enterprise licenses. David Sacks calls it a "meme" forming - that token spend is wasteful and the market is overcorrecting. For enterprise AI buyers: the companies building spend-control and measurable-ROI infrastructure now are positioned to capture budget as the backlash unfolds. Full enterprise spend breakdown and what it means for AI vendor pricing power on The All-In Podcast: Source: All-In Podcast -

A client accidentally spent $500M in one month on Claude. $16.6M per day. No usage controls. Chamath Palihapitiya on The All-In Podcast EP275: a Fortune-level company failed to set token limits. The bill arrived at end of month. A separate Fortune 20 company is 6 months into a $1B AI-driven OPEX reduction program. $200M in tokens spent. Minimal results. Microsoft is already canceling Claude enterprise licenses. David Sacks calls it a "meme" forming - that token spend is wasteful and the market is overcorrecting. For enterprise AI buyers: the companies building spend-control and measurable-ROI infrastructure now are positioned to capture budget as the backlash unfolds. Full enterprise spend breakdown and what it means for AI vendor pricing power on The All-In Podcast: Source: All-In Podcast -

Podcast Alpha

31,016 görüntüleme • 2 ay önce