🤖 Stargate's $500B is marketing, not a real capex commitment

“I think the spending money part, to be honest, is more of a gimmick than it is a technical commitment. So I guess if they want to spend the money, go ahead. ... So I kind of thought that these things were just joint. And so my takeaway was entirely different. It was not a commentary on Mosa or Larry or Sam. I think all of those three companies are frankly very good. It was more a comment that you have to be very careful to protect the president's legacy”

“And I don't know how you get a return on 500 billion invested in this. That's the other thing. And I don't know if that's the real number.”

“I think to me, the real question, guys, is, do we ultimately believe that you can get an ROI on that 500 billion? Because if you can, there will be people that will want to fund it, right? You can do a data center by data center, you can do it actually at the GPU level, right? So the financing is there. To me, the 500 billion doesn't scare me from an absolute number.”

“The obvious consequence of this data center and chip infrastructure effort, which is obviously going to happen with or without government involvement, is an increase in electricity demand.”

“Well, it seems like there's some degree of relationship between the Stargate announcement with Masa and Sam standing up there with Larry and then Sacha showing up in the conversation as well. And this raise and the idea that more hardware, more infrastructure faster creates a moat. And I guess that's the real thing you have to believe, which becomes harder to believe in the context of what happened in the last week.”