Tom Giles

All of that sits into a data frame.

And that data frame drives the world today, whether it's in banking or, you know, whether it's in credit cards or, of course, e-commerce and everything from ad recommendation.

Everything is driven off of that data frame.

That data frame costs hundreds of billions of dollars to go compute.

And so that's the number one thing.

End of Moore's Law.

The second thing is generative AI.

The most important application of the last 15 years is called REXIS, recommender systems.

How do we know what information to recommend to us in a social feed?

How do you know what ad to recommend to somebody?

What book to recommend?

What movie to recommend?

The world is, the internet is so gigantic without a recommender system that a little tiny phone of us will have no chance of ever seeing the right information.

That REXIS,

is the engine of the internet today.

That's going generative AI.

It used to be running on CPUs, now it runs on GPUs.

Which then says the third thing, if you just look at those two applications, many of the internet companies can build enormous number of GPU supercomputers

Just doing that, of course, then it creates the third opportunity on top of it, which is agentic AI.

This is Grok, and this is OpenAI, this is Anthropic, this is Gemini.