Brad Gerstner

Well, I mean, listen, I think at first, I go back to the point you made.

We're at this critical juncture in a global AI race, and we should all be celebrating the fact that there is this level of investment going on in the United States.

This is the definition of creative destruction.

It won't all work, but the risk capital, the entrepreneurial boldness of Sam and NVIDIA and Lisa, this is what's going to keep us ahead in the global AI race.

None of this would be happening if Washington had not unlocked

power.

Jensen said this on our podcast last week.

We've unlocked power.

We've unlocked capital.

People are now able to underwrite to these deals.

So first, I just think that this is incredible we have this level of competition.

terms of Nvidia's ability to stay ahead of everybody else, listen, I think at the end of the day, it's power in and it's tokens out.

It's perf per watt.

I've talked to many CFOs of hyperscalers, and they said you could price the competitor chips at zero.

Jensen said this publicly many times, price the competitor chips at zero, and it's still more effective and economic decision to choose Nvidia.

And I think that's what it comes down to.

They have to be at perf per watt because power is the constrained resource, going back to what Chamath said.

Jason, I think you made a great point about total TAM.

We see about $100 billion already in incremental generative AI revenue in 2026.

That has to grow to well over a trillion by 2030.