Used our Gigawattonomics model, and the ROIC on investments in Grace Blackwell systems (assuming 10 yr life, which is a safe assumption at this point) assuming 75% utilization and $7 average (its much higher) is--260% That's cost to build, run, all power economics included.

New feature on @DiligenceStack. We teased this but will do it quarterly. Full review of our thesis, what changed, where we hold, raise, or shift a thesis, and more. The Changelog Q2.26

Lots of interesting conversations with investors the last few days talking about what it means, and the implications of selling intelligence when in no prior point in technology history has software been positioned or valued in such a way.

Via our Giagawattonomics model, we can confirm compute returns attractive economics. Whether any current generation (perhaps its the generic just compute is Jensen's point) is an investible asset will be fun to debate.

On the potential of an NVIDIA HBM downspec (option) Our model suggests that a broad HBM downspec across NVIDIA’s Rubin portfolio could support roughly 30% to 50% more GPU shipments from the same available pool of HBM bits, assuming CoWoS and compute-die supply keep pace. If those GPUs are deployed, power becomes the next question. A 30% to 50% uplift on roughly 7 million Rubin units across 2027–2028 would add 2.1–3.5 million GPUs. At 2kW per accelerator, that implies roughly 4–7GW of incremental ex-China chip-level power demand across the two years, or about 2–3.5GW annually if deployment is evenly split. Current assumption right now in accelerator forecast, is we need to energize (global ex-China) 26 GW in 2027 and 32-35GW in 2028.

I don’t even know what Nomy is still doing in that Big Brother Naija house, her nonchalant attitude is just too much, how can they be doing meeting on her to win this week wager and auntie was busy sleeping upstairs? Winning back to back bench warmer Omo she should go #BBNaija#