Dylan Patel - The Infinite Demand for Tokens, Claude Mythos, and Supply Constraints - [Invest Like the Best, EP.469]
Transcribed with NVIDIA Parakeet · Timestamps stay in sync with the live audio
And welcome everyone. I'm Patrick O'Shaughnessy and this is Invest Like the Best. This show is an open ended exploration of markets, ideas, stories, and strategies that will help you better invest both your time and your money. If you enjoy these conversations and want to go deeper. Check out Colossus, our quarterly publication with in-depth profiles of the people shaping business and investing. You can find Colossus along with all of our podcasts at Colossus.com. Patrick O'Shaughnessy is the CEO of Passitive Sum.
All opinions expressed by Patrick and podcast guests are solely their own opinions and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, Visit PSUM dot VC Um This is my second conversation with Dylan Patel, known as the founder and CEO of Semi Analysis, where he tracks the semiconductor supply chain. and AI infrastructure build out.
This conversation is about the supply and demand of tokens. On demand, Dylan described something completely explosive. He explains why the frontier model is the only model anyone wants and willingness to pay for it is nearly unbounded. His own firm has gone from tens of thousands of dollars in AI spend last year to seven million run rate this year. On supply, we walk through the bottlenecks across memory, logic, and fab equipment that will determine how fast any of this can scale.
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