Michael Intrator
speaker
665 appearances
5 recordings
4 series
first heard Nov 2025
last heard 10 Apr
Michael Intrator’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in Apr 2026 with 2.
Appearances
It's a debate that is being brought to the forefront by some traders that have a short position in the stock, and they're trying to talk down.
Look, here's what we know.
When we buy infrastructure, we're a success-based company, right?
We're a small company on a relative basis compared to the enormous companies that we're competing with.
And so our clients come into us and they buy compute for five years, for six years.
Our average contract is five years.
So any commentary by anyone, either inside or outside of the industry, that this stuff becomes obsolete in 16 months or whatever nonsense they're spewing, it doesn't...
in any way match up with the facts on the ground.
The facts on the ground is they're buying it for five years.
And my approach to this has always been, if people are willing to pay me for it,
It still has value.
Correct.
Pretty simple way of approaching it.
We use a six year depreciation.
We believe that the GPUs will last in excess of six years.
But we felt like that was a fair and reasonable approach to a technology cycle that's moving at this velocity.
The A100s, the Amperes, this year, the price has appreciated through the year.
Why is that?
I think it's because one of the things that happens is as more installed capacity becomes available, you have new companies that come into existence that have new use cases, that have different size models, that are trying to build new commercial ventures that maybe have been blocked out of the H100s and never had an opportunity to run on that.
And so, look, we find these amazing use cases, new companies that have come into existence or existing companies that have integrated new models into their workflow that are able to use
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