Azeem Azhar

But there is something peculiar about the act of computation, the act of processing information, the act of processing that information to help us make better decisions or invent new things or tackle difficult problems.

That means that there's an unending array of things that we'd want to point this capability at.

So when I look at the market today and there's this febrile activity around the chip companies and the infrastructure companies, it's very easy to get lost in that noise and to say, how can this possibly be true?

to say, this is just a lot of kids running after a soccer ball on a pitch.

This is the dot-com again.

But I ask myself in 10 years or in 20 years or in 30 years, will humanity be doing more computations or will we be doing fewer computations?

I mean, the answer is almost certainly that we will be doing more.

Much, much more.

That 62% annualized growth in computational stock that I calculated years ago, it's held for decades.

And it's even being accelerated by this AI build-out.

And that's one reason why this is so different from every other infrastructure boom.

We're never going to get full on compute the way that we get full on donuts.

We'll just want more and more.

Every economic transformation we've seen has been powered by our ability to better process information.

Whether it was double entry bookkeeping or writing or the telegraph, the ability to process and act on information is critical.

Now, after four donuts, you stop eating.

But after four trillion, trillion computations, you discover a new industry.

And that means we're not yet full.

And quite likely, we'll never get full.

Thanks for listening all the way to the end.