Even the frontier labs underestimated their own demand.

“What gets confusing to me is how nobody forecast this.”

“Even the frontier labs, who really understand how these models work, did not expect to be this profitable, to serve this many users and to grow this fast.”

“They had to do crazy things and sign big contracts at very high premiums just to get access to GPUs tomorrow to serve their users.”

“I don’t view this as an AI fast takeoff. It seems to be a revenue and profitability fast takeoff for a lot of these labs.”