xAI and Meta still use Nvidia. Almost every non-frontier-lab, non-Chinese AI chip consumer uses Nvidia
And Alphabet, Amazon, and Broadcom, the companies that design TPU and Trainium, have the 4th, 5th, and 7th biggest market caps in the world.
I think it’s possible that the market is underpricing how big a deal Anthropic and Google DeepMind, and other frontier labs that might follow in their footsteps, are for overall AI chip demand. But it’s not super obvious.
xAI and Meta still use Nvidia. Almost every non-frontier-lab, non-Chinese AI chip consumer uses Nvidia
And Alphabet, Amazon, and Broadcom, the companies that design TPU and Trainium, have the 4th, 5th, and 7th biggest market caps in the world.
I think it’s possible that the market is underpricing how big a deal Anthropic and Google DeepMind, and other frontier labs that might follow in their footsteps, are for overall AI chip demand. But it’s not super obvious.