AMD

“AMD, Tranium, in many ways TPU, like all of these in my mind are all trying to build a better Reuben, right? And there's a huge amount of value in that.”

“AMD, I think, great chips overall. The challenge is that people don't understand how to program them very well.”

“I think publicly, Meta and OpenAI have bought a ton of AMD chips, and so, we're increasingly seeing that all the AMD supply is also being allocated.”

“Like, he wants to create a diverse community of NeoClouds and inference providers who are all jockeying to create demand for NVIDIA, such that if any one of them Decides to, I don't know, vertically integrate or go with AMD or any other option. He's got three …”

“And additionally, VLM also work closely with all the hardware vendors. So that means across like NVIDIA, AMD, Google, and Amazon, Intel, and a lot more, their newest chip will make sure VLM can run on them. And then a lot of cases they use VLM as a benchmark t…”

“Lisa Su raised her CPU, a genetic CPU forecast. Just three months ago, it was a hundred twenty billion for 20 to 30. Three months later, they raised it to two hundred twenty billion.”

“Now with these agentic workflows, you actually need both. In fact, the ratio of CPU to GPU is becoming like one to one.”

“We have thousands of sub-agents just doing incredibly complex chip design, speeding how fast we can get the next generation to market.”

“Agent loops, agent harnesses are all running on CPUs. The tokens are produced by the frontier models on GPUs, but whatever work, like, let's say like Claude generates a coding script that decides to download 500 files from different websites and then You know,…”

“Exxon is almost similar market cap as AMD. Depending on the oil prices, this year they generate probably fifty billion of clean free cash flow. AMD will be lucky if they generate nine.”

“Share changed when cell phone compute emerged, and Intel and AMD who had fabs and the best architects got zero share, and it all moved to ARM.”

“But we also now have chips in the pipeline from AMD. Cerebrus is already online. It's been an incredible low latency chip. Great for devs, for example, that want real time coding. And there's our own chip that we're working on with Broadcom.”

“We would be the first and only, for a period of time, AI pure play. We are the only company that, that you can, a hundred percent of the revenue, this exact market. There's no gaming, there's no graphics, there's no PC, that, this is it.”

“And you have TPU, Tranium, and AMD, Which are all you know, essentially trying to be a better GPU, and today I think probably Tranium is doing the best.”

“The reality is like if a company like Nvidia or AMD were to ever really, really use one of these other foundries, that foundry would get better really quickly.”

“We have Dell, AMD Intel CFO talked about, they're talking about three to five year locked, locked in supply contracts from hyperscalers.”

“We have customers across the whole spectrum a lot, actually, in the AI space, so, you know, OpenAI, NVIDIA AMD, some others, all the way down to and Iron Mountain.”

“Meta has shaken hands with AMD. They're forming a pact today. We're announcing a multi-year agreement with AMD advanced micro devices to integrate their latest instinct GPUs into our global infrastructure with a pot approximately six gigawatts.”

“All of them will have a very good UX for download model, run model on VLM by The middle of the year, I think, right? Certainly AMD is already there by the end of this quarter.”

“It's called inferencemax. It's open source. All the code is and the results are, but we run across, I think, sixty million dollars of GPUs, which are donated to us by companies like Nvidia, AMD, OpenAI, Microsoft, Amazon, Crusoe, CoreWeave, Together AI.”

“I don't think they'll Go beyond, like, I think they'll stay in single digits market share, single digit percentage market share.”

“TSMC is literally making chips for NVIDIA and Apple and AMD and others in Arizona today, right?”

“What I can tell you is that OpenAI is aggressively trying to diversify so that they have multiple paths Of inference available. They have a huge deal with AMD. They have a huge deal with Nvidia. They now have a huge deal with Cerebris.”

“You know, I think I'm still a long-term buy and hold, honestly, but for the moment, people are like, oh, well, Gemini's so good, and all the, you know, nobody seems to be NVIDIA only now, and everyone's buying AMD, and everyone's, you know, and TPUs are workin…”

“We got an initial grant from AMD at the time. There was about two million GPU hours.”

“I think the export control on chips has largely backfired. The way that the US and I think that the way the US first put restrictions on Huawei and then later on, you know, exported NVIDIA and AMD and other semiconductors that really incentivized China. So bef…”

“So if you see our partnership that we have done with AMD, with a startup called Grog NVIDIA, Qualcomm. It shows you clearly our commitment to this relationship and partnership, and it's really deep.”

“We recently moved all of our training cluster over to AMD. So we're really going all in on AMD ecosystem.”

“We found that it's great for flash attention to specifically, we were able to be H-one hundred. We also found that like the less time you spend in like dense compute, like the less time you spend in tensor cores specifically, or less time you spend in lower bi…”

“So when MI 300 X first dropped, if you run like an MLP gem or something, you would get like 400 T flops. Now that number is, you know, more like six, 606 107 650 or so just in like the gem back ends themselves.”

“So they caught up on hardware. Now they've caught up on software. Not a lot of people have sort of discovered that they've caught up on software and we're kind of capitalizing on that.”

“And then on the AMD side, they have this composable kernel library that does something very similar.”

“AMD's actually done this. Like there's some deep seek, like through GPU modes, discord, there have been some like deep seek kernels that they say you have, you know, guaranteed access to compute for, write them.”

“NVIDIA's biggest competitor, it's not AMD, it's not Broadcom you know, it's certainly not Marvell. It's not Intel. It's Google. And more specifically, it is Google, because Google owns the TPU chip.”

“There's like another financial sweetener in the deal where OpenAI has warrants in AMD if the stock price hits 600.”

“OpenAI committed to purchasing six gigawatts worth of AMD's next-gen GPUs.”

“AMD granted OpenAI warrants And that's interesting for up to a hundred and sixty million shares or 10% of the companies.”

“And with that massive increase in their stock price, Brad, I think this means that OpenAI is going to get a lot of GPUs essentially for free.”

“In twenty-twenty-two, two and a half years ago, NVIDIA and AMD had basically the same revenue, twenty-five billion dollars, right? This year, NVIDIA will do 10 X that at roughly, you know, 210, two hundred and thirty billion dollars, and AMD will do thirty-thr…”

“If it works, she's going to get a hundred and fifty billion of incremental revenue just from open AI, right? For building out five gigawatts.”

“Sam Altman understands power. He has more power than AMD, so he took 10% of their company for the privilege of selling stuff to him.”

“Under the terms of the deal, OpenAI committed to purchasing six gigawatts worth of AMD chips starting next year.”

“Part of this, OpenAI will receive warrants for up to a hundred sixty million AMD shares worth roughly 10% of the chip company at one cent per share awarded in phases if OpenAI hits certain milestones for deployment.”

“So it's like, it all feels like the same sort of general playbook, just being executed in different ways where it's like now all of a sudden ownership is sort of table stakes to these deals, right? Even when it's a company that's a, that's technically still a …”

“Like this exuberance in the stock market is based off of infrastructure spend and not revenue. It's all based off of revenue projections. And those rep revenue projections are extremely aggressive, especially when you consider the fact that enterprises are mov…”

“If a slowdown happens in, in several of, on several of these fronts on any number of, sorry, I should say on any one of these, like several fronts that are going right now, it can start like, it seems like it would start a cascading effect that would potential…”

“I think AMD is fucked, right? I mean, they're, you're just, If your two arch nemesis suddenly team up, that's the worst possible news you can have, right? They were already struggling, right? Their cards are good, their software stack is not, right? They were …”

“Trump struck a deal with Nvidia and AMD for the federal government to take 15% of their chip sales in China in return for allowing the exports.”

“In the cloud super cycle, you know, you have about. Four hundred billion dollars of revenue that is being earned by the applications. Let's call it the layer one. You've got about two hundred billion spent on infrastructure. This is AWS and GCP and Azure, et c…”

“I do think that we're also getting many more hardware approaches and solutions out there. So that it's not as wonderful as NVIDIA is. It's not just an NVIDIA world anymore. And the chip sets from Amazon and Google and AMD and others are becoming quite capable.”

“And AMD had their own separate you know, non-mainline PyTorch distribution for years. That was always six to nine months behind any new PyTorch releases.”

“I make a 75% gross margin as NVIDIA AMD sells their GPUs for 50% gross margin”

“Why is AMD not catching up despite being awesome at hardware engineering? Well, yeah, they're bad at networking, but also they suck at software and they can't do hardware software co-design.”

“I probably think that like AMD GPUs or Amazon's Tranium will be probably more likely to be a best second choice. For people or Google TPU, of course, but I think Google is just more interested in it for internal workloads. I just think that those will be much …”

“It's our MI-tri-fifty-five chip. One hundred and eighty-five billion transistors. Takes about nine months to build.”

“We've been very early in Arizona with TSMC, and we did get our first chips out they're actually four nanometer”

“We've been super impressed with the progress, and, you know, if we look at the main thing that we look at is, you know, yields and just how many chips do we get out on a given wafer, and I would say it's equivalent between what we get in Taiwan and what we get…”

“The decisions we're making will take, you know, five plus years to play out.”

“It's a smart decision for America to sell this chip that gives America an advantage in AI and keeps China from developing kind of their own domestic alternatives, which could eventually kind of challenge, you know, Nvidia, AMD, you know, other kind of American…”

“I think there's 10 times more information in private domains, which is not available in the public domain. All the drug discovery data, which is sitting in every drug company that has made any drug in the past, it's all proprietary data, right? All the intelle…”