Mamoon Hamid

I was at opening eye maybe a month ago and we're going through all these demos of cool products that are coming out like O1 and Strawberry. and realize that their positioning is we can't do everything. We're a 1600 person company. We can't build the application layer stuff that we want you guys to build or your companies to build.

I was at opening eye maybe a month ago and we're going through all these demos of cool products that are coming out like O1 and Strawberry. and realize that their positioning is we can't do everything. We're a 1600 person company. We can't build the application layer stuff that we want you guys to build or your companies to build.

And so there's a great business to be had in LLMs and in providing the compute and the electricity. And there's a great business to be had by being very vertically focused around applications.

And so there's a great business to be had in LLMs and in providing the compute and the electricity. And there's a great business to be had by being very vertically focused around applications.

And so there's a great business to be had in LLMs and in providing the compute and the electricity. And there's a great business to be had by being very vertically focused around applications.

The beautiful thing about just the GPUs getting better and the infrastructure being more performant, models getting better. Sure, the models are getting bigger too at the same time.

The beautiful thing about just the GPUs getting better and the infrastructure being more performant, models getting better. Sure, the models are getting bigger too at the same time.

The beautiful thing about just the GPUs getting better and the infrastructure being more performant, models getting better. Sure, the models are getting bigger too at the same time.

So let's maybe draw the difference between there's all the folks who are providing those GPUs, there's people providing data centers, there's people who've now built LLMs on top of all this compute infrastructure that's there. So clearly, NVIDIA is a great business. Hyperscalers are investing today for the future.

So let's maybe draw the difference between there's all the folks who are providing those GPUs, there's people providing data centers, there's people who've now built LLMs on top of all this compute infrastructure that's there. So clearly, NVIDIA is a great business. Hyperscalers are investing today for the future.

So let's maybe draw the difference between there's all the folks who are providing those GPUs, there's people providing data centers, there's people who've now built LLMs on top of all this compute infrastructure that's there. So clearly, NVIDIA is a great business. Hyperscalers are investing today for the future.

And I think ultimately the margins, just like if you look at 20 years later of AWS, how great of a business that is, that standalone basis would be a top four enterprise software company. Same with Google Cloud. So that's a great business over time. And then you look at the LLMs. So if you're just providing tokens, is that a great business?

And I think ultimately the margins, just like if you look at 20 years later of AWS, how great of a business that is, that standalone basis would be a top four enterprise software company. Same with Google Cloud. So that's a great business over time. And then you look at the LLMs. So if you're just providing tokens, is that a great business?

And I think ultimately the margins, just like if you look at 20 years later of AWS, how great of a business that is, that standalone basis would be a top four enterprise software company. Same with Google Cloud. So that's a great business over time. And then you look at the LLMs. So if you're just providing tokens, is that a great business?

Right now, given the public profile of OpenAI and financials that we've all seen, today it's not a great business, but they're smart enough to figure out how they can get to a gross margin that will allow them to be a highly profitable business over time. Do you think the scaling laws will continue?

Right now, given the public profile of OpenAI and financials that we've all seen, today it's not a great business, but they're smart enough to figure out how they can get to a gross margin that will allow them to be a highly profitable business over time. Do you think the scaling laws will continue?

Right now, given the public profile of OpenAI and financials that we've all seen, today it's not a great business, but they're smart enough to figure out how they can get to a gross margin that will allow them to be a highly profitable business over time. Do you think the scaling laws will continue?

Yeah, so just the rough math is that in the last 18 months, the price of a token has gone down by 200x. But that's just the super early innings, right? We're talking about the first two years ago, we didn't have chat GPT. Today, we have so many different applications that are utilizing this technology. So will it go down 200x over the next two years? I don't know.

Yeah, so just the rough math is that in the last 18 months, the price of a token has gone down by 200x. But that's just the super early innings, right? We're talking about the first two years ago, we didn't have chat GPT. Today, we have so many different applications that are utilizing this technology. So will it go down 200x over the next two years? I don't know.

Yeah, so just the rough math is that in the last 18 months, the price of a token has gone down by 200x. But that's just the super early innings, right? We're talking about the first two years ago, we didn't have chat GPT. Today, we have so many different applications that are utilizing this technology. So will it go down 200x over the next two years? I don't know.