Sarah Guo

Rene Haas × Elad Gil × Sarah Guo

Arm moved from IP licensing into physical silicon with the Arm AGI CPU after Meta sought a general-purpose agentic CPU no one else could provide.AI reaches 80% to 90% of engineers, while Arm’s documentation and test benches may make proprietary IP more trainable; supply may remain constrained for 3 to 5 years, with data-center construction a possible next bottleneck.

Elad Gil × Sarah Guo × Andrew Feldman

Cerebras says useful AI in 2025 made inference latency a daily constraint, with systems running 15, 18, 20x faster than GPUs.G42’s $1 billion order enabled cluster testing, while an OpenAI agreement Feldman says exceeds $20 billion and an AWS deployment raise the stakes for a 10x manufacturing increase this year.Delivery and governance now matter as much as contrarian architecture.

Tuhin Srivastava × Sarah Guo × Elad Gil

Baseten’s growth reflects an application-led inference market where more than 95% of tokens run on dedicated deployments and almost every customer customizes models for quality or performance.Proprietary workflow feedback creates the application moat, while scarce GPUs, three-to-five-year commitments and roughly 20% TCV prepayments make capacity and capital allocation material risks as cheaper inference expands demand.

Sarah Guo × Elad Gil × Matthew Prince

Cloudflare is rebuilding beyond CDN for an AI-shaped internet, with 80% of major AI companies as customers and potential roles in security, edge inference, crawler permissions, and payments.AI has made equivalent Google clicks ten times harder than a decade ago, while Cloudflare’s blocked-by-default training access and proposed granular permissions could create content scarcity, though Google’s privileged access and evasive crawlers remain key risks.