<p>Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing &amp; capitalism. This week they are joined by Dylan Patel, Founder &amp; Chief Analyst at SemiAnalysis, to discuss origins of SemiAnalysis, Google&#39;s AI workload, NVIDIA&#39;s competitive edge, the shift to GPUs in data centers, the challenges of scaling AI pre-training, synthetic data generation, hyperscaler capital expenditures, the paradox of building bigger clusters despite claims that pretraining is obsolete, inference-time compute, NVIDIA&#39;s comparison to Cisco, evolving memory technology, chip competition, future predictions, &amp; more. Enjoy another episode of BG2!</p><p><br></p><p><strong>Timestamps:</strong></p><p>(00:00) Intro</p><p>(01:50) Dylan Patel Backstory</p><p>(02:36) SemiAnalysis Backstory</p><p>(04:18) Google&#39;s AI Workload</p><p>(06:58) NVIDIA&#39;s Edge</p><p>(10:59) NVIDIA&#39;s Incremental Differentiation</p><p>(13:12) Potential Vulnerabilities for NVIDIA</p><p>(17:18) The Shift to GPUs: What It Means for Data Centers</p><p>(22:29) AI Pre-training Scaling Challenges</p><p>(29:43) If Pretraining Is Dead, Why Bigger Clusters?</p><p>(34:00) Synthetic Data Generation</p><p>(36:26) Hyperscaler CapEx</p><p>(38:12) Pre-training and Inference-tIme Reasoning</p><p>(41:00) Cisco Comparison to NVIDIA</p><p>(44:11) Inference-time Compute</p><p>(53:18) The Future of AI Models and Market Dynamics</p><p>(01:00:58) Evolving Memory Technology</p><p>(01:06:46) Chip Competition</p><p>(01:07:18) AMD</p><p>(01:10:35) Google’s TPU</p><p>(01:14:51) Amason’s Tranium</p><p>(01:17:33) Predictions for 2025 and 2026</p><p><br></p><p>Produced by Benny Beausoleil</p><p>Music by Yung Spielberg</p><p><br></p><p>Available on Apple, Spotify, <a href="http://www.bg2pod.com" target="_blank" rel="ugc noopener noreferrer">www.bg2pod.com</a></p><p><br></p><p>Follow:</p><p>Brad Gerstner <a href="https://x.com/altcap" target="_blank" rel="ugc noopener noreferrer">@altcap</a></p><p>Bill Gurley <a href="https://x.com/bgurley⁠" target="_blank" rel="ugc noopener noreferrer">@bgurley</a></p><p>Dylan Patel <a href="https://x.com/dylan522p" target="_blank" rel="ugc noopener noreferrer">@dylan522p</a></p><p>BG2 Pod <a href="https://x.com/BG2Pod⁠" target="_blank" rel="ugc noopener noreferrer">@bg2pod</a></p>