Dan Ives

Quantity's been the issue.

But for them, it's just they're going to continue to have irons in the fire.

That's what they're going to do.

I mean, look, Google TPU, especially with Broadcom and TSMC as the builder, that's been around for over a decade, right?

So it's not that it's new per se.

I think the issue comes down to demand supply for NVIDIA chips are 12 to 1.

So look, when you look at meta, they're not going to be able to get everything they need from NVIDIA.

So they got to look outside.

When you look what Google has, I'd say it's really, it's probably three to four years behind where NVIDIA is.

But again, on some certain instances, it could be good enough.

And look, that's where we're going.

I mean, the reality is when it comes to AMD, when it comes to big tech, eventually you're going to see Apple, you're going to see Meta, you're going to see Microsoft.

They'll build their own chips as well.

But there is one chip in the world fueling the AI revolution.

That's NVIDIA.

Look, just spending three weeks in Asia, I mean, we've seen demand accelerate 30% in the last six months for AI.

So it comes down to like, it's easy to call, say AI is a bubble in the spreadsheet or in 25th floor of New York City office building.

But when you actually see what's happening there, look, only 3% of enterprise in the US have gone down the AI path.

None in Europe.

Asia, China, none.