Intelligence Blog
Analysis, insights, and perspectives on the semiconductor and AI industry.
The stock fell more than seven percent, erasing something like sixteen billion dollars of value.
$8 billion plan to stand up a gigawatt of computing capacity in southern India
The Other Half of the Chip War
the mineral chokepoint lands not on the part of the stack with slack, but on the part that is already the tightest.
Cerebras Competition for NVIDIA?
Follow the constraints and none of them favor the challenger...
Will AI go the way of Mobile Pricing?
...the industry flipped to unlimited for one price a month...
We are now in the Amnesia Period of Technology
When a single input doubles its share of your cost structure in ninety days, nothing about your pricing survives intact.
The two reflexes about this are that it's unprecedented and that it's a house of cards. Both are incomplete
The first bill was a component tax, a scarcity markup riding down the supply chain. The second is a capital tax, and it comes from a different place.
It is which direction the bill travels, and who is standing where it stops.
Everyone is watching the chips. The constraint left them a while ago. Here's the lens that follows it: up the stack, and down into the price.
The Liability Doesn't Vanish. It Relocates.
The financing has been engineered to disperse risk until you can't find it, and you can't find it is the measurement. When the structure is designed so that no single screen shows the whole exposure, the design itself is the warning.
Can AI Supply Constraints be Overcome?
The Machines Can't Follow It Down The market believes the AI shortage is temporary because the equipment makers will build the capacity out. They will — at one layer. That's the problem. There's a com