Dylan Patel

You want to do long-term contracts and you want to do long-term contracts to people with balance sheets.

That's the golden goose, but that doesn't exist so much.

So you do long-term contracts with people who don't have a balance sheet, like OpenAI.

And if you can't do that, then you'll do short contracts with people who do have a balance sheet, right?

Like there's this whole matrix of like who you rent GPUs to.

But from NVIDIA's interest, it's like,

You know what I really love is when venture capitalists fund a company and then 70% of the round is spent on compute.

I fucking love that, right?

And that's what's happening with all these companies.

Whether it's physical intelligence, they're spending a lot on like robot arms and shit too, but they're also spending a lot on compute.

Or it's like any other startup that's raising, Cursor, whoever, right?

And even if it's not directly, it's indirectly going to GPUs.

They love when people spend their entire round on GPUs.

What would be really good is if it wasn't like a two-year deal or a three-year deal for that compute.

If it was, you can spend 70% of your round on one training run.

Leave a company with these ideas, gather the data, do the training run, and then you have a product.

And you show how good the model is and then you try and raise again.

That's what would be really great for NVIDIA, but no one wants to build a cluster who's predicated on that as the business model.

That's crazy.

So they have to backstop a cluster to do that.