Azeem Azhar

So it's like an instruction that the computer is carrying out.

When we think about these new AI factories, these gargantuan data centers with chips optimized to serve AI models, they're going to be filled with incredibly powerful chips.

I mean, think of the Nvidia ones.

It's a $5 trillion company.

It shipped about 7 million of these GPUs this year.

And they probably added several Zeta Flops to the stock of computing.

What's a Zeta Flop?

A Zeta Flop is 10 to the 21.

So, you know, meaningful addition to the existing stock of computing.

And the thing is that all of this compute is actually being used.

I mean, if you listen to analysts and you talk to the companies as I do, you hear that they are running short of compute.

So this isn't like the monorail in Springfield, which was never used.

It's not like the dark fiber during the telecoms bubble that wasn't used for more than a decade.

As Gavin Baker, the CEO of Atreides, which is an investment management firm, says, there are no dark GPUs anywhere.

And that's the same message that I hear when I talk to people in the industry.

Utilization rates are exceptionally high.

What's happening is that the economy is moving rapidly.

into a computational fabric alongside the physical elements of the real economy.

We're doing more and more useful work in silico, work that we might have had to do physically in previous years and previous generations.

We've always used information in our economies as a historical progression from tally sticks to the breakthrough of double entry bookkeeping several hundred years ago.