Dylan Patel

Oracle's taking a risk because they're signing up for $300 billion of contract, okay, $200 billion of hardware spend across data centers and chips.

And of that, they're going to have to go get debt.

So they're on the hook.

And they'll probably be able to pay for it if it happens, but they'll just be like, their EV will tank if OpenAI can't pay for all the hardware that they bought.

Luckily for them, it phases in over time and

And then you go to the inference providers and it's like, there's a business to be made here too, right?

Like I'm serving models, I'm serving them efficiently.

Maybe Roblox comes to me and they want to put an LLM in their game.

Another company like Shopify wants to put an LLM for customer service.

And yes, they could do it themselves, but actually inference is a hard thing, especially as you get to larger and larger models and more complicated models and all the things are

All these different use cases where people want to serve models and maybe it's just open source models and maybe it's fine tuning of those open source models, which those companies can help you do or you can do and they can serve for you and they have scalable, reliable capacity.

Like there's businesses to be made here, but there's also like I'm selling tokens to random people who are trying to build SaaS apps and NSF and maybe they run out of runway.

Okay, that funding doesn't directly go to NVIDIA, but you go through some steps and it's going to NVIDIA or some value chain.

And NVIDIA is holding no risk.

Everyone in the middle has got a lot of risk.

Why is that?

Like, I feel like that's exactly what we do with it, right?

Is the cost to develop things is so high that you can't do it.

Or the cost to like have someone go buy stuff for you.

It's like, okay, great.