Ian Dunning

But it's definitely an active area investigation for us.

And now clearly everyone, because I feel like everyone's talking about their partnership with Broadcom or something like this.

And if someone says partnering with Broadcom, it's like they're making an inference chip.

I don't think we'll sell it, but yes, you're right.

That is definitely the right model.

And on the other hand, Jensen never sleeps.

And Jensen purchased Grok, and they've got their new product lineup from the Grok acquisition, which is a very compelling product as well.

And there are other setups.

Etched comes to mind.

So the inference space is a smaller design space.

It's not clear what in-house solutions will be a necessary thing in the future, if there's enough people competing, but...

On the training side, I mean, what a moat.

It's just NVIDIA.

And I suppose Google, but if you are using TPUs, you're also kind of entering a very close relationship with Google, some feeling of vendor lock-in.

It's a complicated thing if you go down that path, but if you're compute hungry like the Neo labs, I mean, the big labs, you'll take what you can get.

I think Amstropic takes TPUs, Traniums, and GPUs.

They need them all.

It's plausible, and it partly relates back to my previously stated failure to plan correctly for the future.

If in some sense I could lock in a price for some future date for delivery or something that is connected to a price to compute in the long-term future, I think there could be value to that.

We could basically hedge our risk that we wait too long to put the order in and the price goes up.