Brad Gerstner

We got people sending money every month for ChatGPT, a billion and a half monthly users using the product.

You just said every enterprise in the world is either going to do this or they will die.

Every sovereign views this as existential to their national security and economic security as nuclear power.

I beat the demand question to death.

So let's jump in a little bit to system design.

And I'm going to turn to Clark here in a second on that.

But in 2024, you switched to your annual release cycle with Hopper.

You then had a massive upgrade, which required significant data center overhaul with Grace Blackwell in 2025.

And in the back half of 26, we're going to get Vera Rubin.

27, we'll get Ultra and 28, Feynman.

How is the annual release cycle going?

What were the main goals of going to an annual release cycle?

And did AI inside NVIDIA allow you to execute the annual release cycle?

And each of those users is generating massively more tokens because they're using inference time reasoning.

For people who may not be as familiar, what does extreme co-design mean?

I heard from one of your competitors

You know, yes, he's doing this because it helps drive down the cost of token generation.

But at the same time, your annual release cycle makes it almost impossible for your competitors to keep up.

The supply chain gets locked up more because you're giving three-year visibility to your supply chain.

So now the supply chain has confidence as to what they can build to.