> And cost effective training and inference silicon is a moat, because its Physical, and like literally One Company on the planet makes it,
I got Nvidia on my paper. Did I do the math wrong?
I got Nvidia on my paper. Did I do the math wrong?
Apple has purchased the entirety of TSMC's 3nm production for the next 1 to 2 years. They can do that, and can continue to do that, because they have a ton of money. They have a ton of money for buying chips because there isn't some crazy business middle-logic justifying the cost of these chips' performance; they buy chips, they sell chips to consumers. In comparison, literally zero other customers of TSMC derive the majority of their hardware revenue from selling to consumers. Companies like Nvidia make some money this way, but most of their money goes to data center sales, which has their own business justification for buying them which fluctuates (ChatGPT subscriptions? training models? is the past model good enough? etc).