Privatized AI value is now coming public; Anthropic's S-1 starts the re-rating of the biggest private AI name.
Which is, as we were saying, is sort of unique, a capital that is uniquely ill-suited to be complementary to the production of AI or the serving of AI or to robots or the kinds of goods that the rich will bid up the prices of.
Peak+9.4%
If AI compute demand never satiates, GPU pricing power persists and NVIDIA's margins and revenue keep compounding.
Maybe for the first time, this is no longer true, right? So the famous fact here is that an H100 costs more to rent now than it did 3 years ago, even though we have much superior technology and we have much more compute in the world. Um, because as models get smarter, the opportunity cost of compute gets higher.
Peak+0.0%