Andrew Sharp

Andrew Sharp × Ben Thompson

NVIDIA’s financing platform with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR pitches AI GPUs as long-lived infrastructure for patient capital.Yet A100 pricing at CoreWeave may reflect stranded air-cooled facilities, while abstraction above CUDA and potential overcapacity leave GPU economics, timing, funding air pockets and NVIDIA’s moat unresolved.

Andrew Sharp × Ben Thompson

Apple’s mid-cycle Mac price increases suggest it missed the memory shock in both procurement and pricing, while delayed Siri may arrive in 2026 with 2024-era capabilities.As major suppliers prioritize HBM, DRAM scarcity could let Chinese producers climb the learning curve profitably, with export controls potentially accelerating that competition.Vibe coding makes highly bespoke software viable: an AI assistant catalogs household objects, recognizes roughly 95% from photos, and links them to locations through QR codes.

Andrew Sharp × Ben Thompson

AWS’s 28% growth and expanding margins reinforce its cost-led cloud strategy, combining custom silicon, service breadth and lock-in to turn infrastructure efficiency into pricing power.Large-scale training still favors NVIDIA’s tightly connected data-center architecture, but cheaper, more efficiently utilized inference could make Trainium and AWS’s commodity economics a stronger AI catalyst.

Andrew Sharp × Ben Thompson

Intel’s 14A disclosure makes its capital constraint explicit: without a meaningful external customer, internal products cannot support the node’s returns, while its integrated culture remains poorly suited to outside foundry clients.Samsung’s $16.5 billion Tesla deal could anchor a second US leading-edge supplier, improving resilience before Intel recovers; Google Cloud’s AI growth likewise shows incumbents can fund competition, though margins and OpenAI’s financing remain unresolved.