Tom Giles

So Jensen, everybody last night was asking me, and I'm mindful it's an earnings call for you today, so I'm going to say this delicately.

Everybody has been asking me to ask you, are we going to have an AI bubble?

That's the last question.

Let me just tell you what we see.

I think it's really important when you look at what's happening around the world and go back to first principles of what's happening in computer science and computing.

There are three things that's happening.

The first thing is that we all know that Moore's Law has run its course and the ability, the amount of demand for computing versus the amount of computation we can get out of general purpose computing is really challenging.

And so the world's been moving to accelerated computing for some time.

We've been pushing this now for over 20 years.

Let me give you one statistic.

I was just at supercomputing.

Six years ago, CPUs were 90% of the world's supercomputers, top 500 supercomputers.

Six years ago.

This year, less than 15%.

went from 90% to 10%, and meanwhile accelerated computing went from the other way, 10% to now 90%.

Okay, so you're seeing that inflection point, the transition in high-performance computing from general-purpose computing to accelerated computing.

Well, one of the most data-intensive, one of the most intensive computation things that the world does in the cloud is data processing.

Several hundred billion dollars of computation is done on just raw data processing.

It has nothing to do with AI.

Just SQL processing, data frames, you know, everybody's names, address, their sex, their age, where they live, you know, how much money they make.