Azeem Azhar

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.

And computational systems emerged at the turn of the 20th century.

They were initially mechanical and since 1938, electronic.

But what they do to our information system is they allow the processing of that information to take place out of our skulls and in these machines.

And the machines go faster and they do it more consistently and they benefit from manufacturing economics.

And I think that that shift is what really drives technology.

our desire to use computation.

I mean, since 1960s, our economies have really depended on computing.

It may not feel like that.

If you were like me born in the 70s, it didn't feel particularly digital, but the economy's really, really depended on the ability for computers to do the information processing from a supply chain and inventory to payroll processing.

I mean, even things like fast fashion fundamentally depend on databases, on being able to log customer preferences, on being able to keep a large number of SKUs, on being able to update prices and update inventories really, really rapidly.

And now we're getting to a stage where every senior exec has lived in that world of computing.