WEBVTT

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<v Cassidy>SpaceX <00:00:00.600>put <00:00:00.773>an <00:00:00.980>$18.4 <00:00:01.860>billion <00:00:02.667>AI <00:00:02.960>bet <00:00:03.227>on <00:00:03.320>the <00:00:03.507>board—and <00:00:04.528>Wall <00:00:04.754>Street’s <00:00:05.080>already <00:00:05.417>asking <00:00:05.800>who <00:00:06.000>pays <00:00:06.340>for <00:00:06.440>the <00:00:06.640>encore.

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<v Cassidy>Quick <00:00:08.373>catch-up: <00:00:09.600>SpaceX <00:00:10.120>has <00:00:10.272>been <00:00:10.436>building <00:00:10.773>an <00:00:10.987>AI <00:00:11.250>compute <00:00:11.653>business <00:00:12.136>alongside <00:00:12.680>its <00:00:12.840>space <00:00:13.120>operations.

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<v Cassidy>It <00:00:14.773>reported <00:00:15.360>1.4 <00:00:16.000>gigawatts <00:00:16.667>of <00:00:16.800>nameplate <00:00:17.360>compute <00:00:18.053>at <00:00:18.340>the <00:00:18.440>end <00:00:18.587>of <00:00:18.660>the <00:00:18.777>second <00:00:19.200>quarter <00:00:19.840>and <00:00:20.133>is <00:00:20.288>targeting <00:00:20.752>more <00:00:20.912>than <00:00:21.200>2 <00:00:21.420>gigawatts <00:00:22.080>by <00:00:22.288>year-end.

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<v Cassidy>Longer <00:00:24.080>term, <00:00:24.827>it’s <00:00:25.006>aiming <00:00:25.320>for <00:00:25.493>up <00:00:25.627>to <00:00:25.760>20 <00:00:26.060>gigawatts <00:00:26.613>of <00:00:26.827>AI <00:00:27.107>power <00:00:27.480>and <00:00:27.640>cooling <00:00:27.991>capacity <00:00:28.613>by <00:00:28.784>late <00:00:29.360>2027, <00:00:30.600>built <00:00:30.827>on <00:00:30.949>Nvidia <00:00:31.424>Vera <00:00:31.733>Rubin <00:00:32.090>systems.

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<v Bill>This <00:00:34.240>is <00:00:34.480>AI <00:00:35.107>Daily <00:00:35.493>Briefing.

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<v Bill>SpaceX <00:00:37.744>says <00:00:38.060>the <00:00:38.309>payoff <00:00:38.787>comes <00:00:39.232>fast.

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<v Bill>Investors <00:00:41.088>just <00:00:41.320>put <00:00:41.480>a <00:00:41.587>price <00:00:41.947>on <00:00:42.048>that <00:00:42.307>claim.

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<v Bill>Let’s <00:00:43.627>start <00:00:43.813>there. <00:00:44.560>This <00:00:44.947>story <00:00:45.340>isn't <00:00:45.664>over: <00:00:46.491>SpaceX <00:00:47.227>AI <00:00:47.680>compute <00:00:48.320>buildout.

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<v Bill>Follow <00:00:50.160>us <00:00:50.364>wherever <00:00:50.740>you're <00:00:50.936>listening, <00:00:51.860>and <00:00:51.940>the <00:00:52.048>next <00:00:52.300>chapter <00:00:52.773>comes <00:00:53.093>to <00:00:53.260>you.

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<v Cassidy>From <00:00:54.659>Ari <00:00:54.935>Levy, <00:00:55.759>Lora <00:00:56.019>Kolodny <00:00:56.626>at <00:00:56.855>CNBC:

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<v Quote>After <00:01:01.517>SpaceX <00:01:02.064>spent <00:01:02.477>way <00:01:02.765>more <00:01:02.984>on <00:01:03.097>its <00:01:03.384>AI <00:01:03.637>buildout <00:01:04.109>than <00:01:04.281>analysts <00:01:04.699>expected

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<v Quote>executives <00:01:06.264>tried <00:01:06.450>to <00:01:06.593>convince <00:01:06.933>investors <00:01:07.464>on <00:01:07.587>Tuesday <00:01:08.125>that <00:01:08.344>it's <00:01:08.597>all <00:01:08.782>worthwhile

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<v Quote>claiming <00:01:10.269>that <00:01:10.417>the <00:01:10.527>company <00:01:10.930>is <00:01:11.071>making <00:01:11.337>its <00:01:11.544>money <00:01:11.741>back <00:01:12.031>within <00:01:12.277>a <00:01:12.381>year.

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<v Quote>The <00:01:13.567>message <00:01:13.965>didn't <00:01:14.468>resonate, <00:01:15.064>as <00:01:15.197>SpaceX <00:01:15.723>shares <00:01:16.077>sank <00:01:16.437>following <00:01:16.817>the <00:01:16.927>company's <00:01:17.477>first <00:01:17.721>earnings <00:01:18.134>report <00:01:18.557>since <00:01:18.977>its <00:01:19.197>IPO <00:01:19.704>in <00:01:19.837>June.

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<v Cassidy>SpaceX’s <00:01:21.275>first <00:01:21.606>post-IPO <00:01:22.386>earnings <00:01:22.822>report <00:01:23.422>put <00:01:23.809>an <00:01:23.942>$18.4 <00:01:25.172>billion <00:01:25.998>quarterly <00:01:26.582>capex <00:01:27.110>bill <00:01:27.355>in <00:01:27.489>front <00:01:27.649>of <00:01:27.758>skeptical <00:01:28.342>investors.

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<v Cassidy>That’s <00:01:29.974>more <00:01:30.134>than <00:01:30.319>double <00:01:30.702>quarterly <00:01:31.169>sales, <00:01:32.118>with <00:01:32.230>over <00:01:32.582>80% <00:01:33.289>aimed <00:01:33.649>at <00:01:33.889>AI.

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<v Bill>Wall <00:01:35.279>Street <00:01:35.682>got <00:01:35.902>the <00:01:36.102>one-year-payback <00:01:37.382>pitch, <00:01:38.038>then <00:01:38.811>marked <00:01:39.262>the <00:01:39.449>stock <00:01:39.878>down <00:01:40.582>7.5% <00:01:42.342>after <00:01:42.835>hours.

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<v Bill>That’s <00:01:44.542>a <00:01:44.678>live <00:01:45.131>stress <00:01:45.638>test: <00:01:46.342>real <00:01:47.049>money <00:01:47.496>voting <00:01:48.252>against <00:01:48.802>the <00:01:49.062>slide <00:01:49.542>deck.

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<v Cassidy>CFO <00:01:51.366>Bret <00:01:51.686>Johnsen <00:01:52.222>pointed <00:01:52.555>to <00:01:52.702>$6.7 <00:01:53.652>billion <00:01:54.475>in <00:01:54.622>newly <00:01:54.887>contracted <00:01:55.609>cloud-services <00:01:56.402>revenue, <00:01:57.430>ramping <00:01:57.729>in <00:01:57.852>October.

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<v Cassidy>Fine—show <00:02:00.475>me <00:02:00.614>that <00:02:00.822>ramp <00:02:01.192>against <00:02:01.595>an <00:02:01.742>$18.4 <00:02:02.902>billion <00:02:03.512>quarter, <00:02:04.132>because <00:02:04.929>those <00:02:05.102>are <00:02:05.302>very <00:02:05.662>different-sized <00:02:06.492>numbers.

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<v Bill>Capex <00:02:07.862>rose <00:02:08.214>more <00:02:08.390>than <00:02:08.682>sixfold <00:02:09.350>year <00:02:09.606>over <00:02:09.926>year.

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<v Bill>Glad <00:02:11.350>they <00:02:11.622>beat <00:02:12.012>revenue <00:02:12.566>estimates, <00:02:13.742>but <00:02:14.062>“efficient” <00:02:15.042>has <00:02:15.249>to <00:02:15.372>survive <00:02:16.022>3 <00:02:16.302>a.m.

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<v Bill>utilization, <00:02:17.915>power <00:02:18.249>bills, <00:02:19.082>and <00:02:19.198>customers <00:02:19.764>actually <00:02:20.334>consuming <00:02:21.002>the <00:02:21.132>compute—not <00:02:22.326>just <00:02:22.662>signing <00:02:23.310>contracts.

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<v Cassidy>Alex <00:02:25.957>K.T. <00:02:26.466>Martin, <00:02:26.777>writing <00:02:27.224>in <00:02:27.297>The <00:02:27.424>Japan <00:02:27.850>Times:

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<v Quote>The <00:02:28.917>country’s <00:02:29.477>biggest <00:02:29.875>data <00:02:30.113>center <00:02:30.449>operator

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<v Quote>which <00:02:31.320>is <00:02:31.467>owned <00:02:31.720>by <00:02:31.863>government-backed <00:02:32.787>NTT

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<v Quote>intends <00:02:34.334>to <00:02:34.447>add <00:02:34.677>roughly <00:02:35.187>750 <00:02:36.387>megawatts <00:02:36.974>of <00:02:37.098>capacity <00:02:37.747>over <00:02:38.087>the <00:02:38.211>next <00:02:38.520>seven <00:02:38.854>years <00:02:39.347>to <00:02:39.699>meet <00:02:39.887>soaring <00:02:40.364>demand <00:02:40.755>from <00:02:41.003>companies <00:02:41.557>seeking <00:02:41.934>to <00:02:42.054>catch <00:02:42.440>up <00:02:42.574>in

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<v Quote>artificial <00:02:43.242>intelligence

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<v Quote>people <00:02:44.520>familiar <00:02:44.963>with <00:02:45.047>the <00:02:45.164>matter <00:02:45.571>said.

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<v Cassidy>NTT <00:02:46.976>Data <00:02:47.376>is <00:02:47.596>eyeing <00:02:47.976>a <00:02:48.136>¥1.5 <00:02:49.269>trillion <00:02:49.856>plan <00:02:50.656>to <00:02:51.016>reach <00:02:51.276>one <00:02:51.516>gigawatt <00:02:52.043>in <00:02:52.176>Japan <00:02:52.629>by <00:02:52.816>2033—roughly <00:02:54.816>750 <00:02:55.756>megawatts <00:02:56.403>added <00:02:56.768>over <00:02:56.949>seven <00:02:57.309>years.

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<v Cassidy>Seven <00:02:58.989>years. <00:02:59.616>The <00:03:00.136>build <00:03:00.389>schedule <00:03:00.869>is <00:03:01.006>setting <00:03:01.236>the <00:03:01.360>pace <00:03:01.696>now, <00:03:02.216>not <00:03:02.356>the <00:03:02.483>model-release <00:03:03.198>calendar.

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<v Bill>That <00:03:05.136>¥2 <00:03:05.606>billion <00:03:06.416>to <00:03:07.176>¥2.5 <00:03:08.246>billion <00:03:08.916>per <00:03:09.536>megawatt <00:03:10.265>estimate <00:03:11.083>doesn’t <00:03:11.756>include <00:03:12.196>the <00:03:12.325>Nvidia <00:03:12.796>accelerators.

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<v Bill>So <00:03:14.616>the <00:03:14.776>$9.6 <00:03:15.796>billion <00:03:16.558>headline <00:03:17.113>covers <00:03:17.527>building <00:03:18.176>and <00:03:18.509>power <00:03:19.090>before <00:03:19.816>you <00:03:20.016>buy <00:03:20.276>the <00:03:20.408>expensive <00:03:21.120>part <00:03:21.408>that <00:03:21.616>actually <00:03:22.352>runs <00:03:22.776>the <00:03:22.967>workload.

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<v Cassidy>We <00:03:24.848>just <00:03:25.003>heard <00:03:25.184>Wall <00:03:25.422>Street <00:03:25.744>push <00:03:26.000>back <00:03:26.309>on <00:03:26.496>SpaceX’s <00:03:27.256>one-year <00:03:27.749>AI-capex <00:03:28.636>payback.

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<v Cassidy>NTT’s <00:03:30.704>plan <00:03:30.949>at <00:03:31.096>least <00:03:31.344>puts <00:03:31.556>the <00:03:31.660>physical <00:03:32.078>timeline <00:03:32.636>out <00:03:32.843>in <00:03:32.916>the <00:03:33.072>open: <00:03:34.128>that <00:03:34.327>capacity <00:03:34.936>doesn’t <00:03:35.273>arrive <00:03:35.656>until <00:03:36.016>2033.

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<v Bill>A <00:03:38.016>gigawatt <00:03:38.763>is <00:03:39.076>serious.

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<v Bill>But <00:03:40.696>every <00:03:40.954>enterprise <00:03:41.603>buyer <00:03:41.989>in <00:03:42.176>Japan <00:03:42.645>hoping <00:03:43.083>to <00:03:43.189>catch <00:03:43.536>up <00:03:43.749>on <00:03:44.069>AI <00:03:44.542>should <00:03:44.873>notice <00:03:45.256>the <00:03:45.472>date <00:03:45.945>attached <00:03:46.709>to <00:03:46.896>it: <00:03:48.016>2033.

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<v Bill>Hardware <00:03:50.560>roadmaps <00:03:51.200>move <00:03:51.496>a <00:03:51.570>little <00:03:51.845>faster <00:03:52.304>than <00:03:52.545>construction <00:03:53.216>permits.

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<v Cassidy>Dan <00:03:55.044>Robinson, <00:03:55.722>writing <00:03:55.889>in <00:03:55.962>The <00:03:56.084>Register:

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<v Quote>Amazon <00:03:57.383>is <00:03:57.550>now <00:03:57.783>upping <00:03:58.090>its <00:03:58.272>forecast <00:03:58.810>for <00:03:58.970>how <00:03:59.122>much <00:03:59.350>capex <00:03:59.917>it <00:03:59.986>will <00:04:00.103>spend <00:04:00.402>this <00:04:00.594>year <00:04:00.957>on <00:04:01.218>expanding <00:04:01.690>its <00:04:01.858>infrastructure

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<v Quote>including <00:04:03.442>that <00:04:03.616>needed <00:04:03.910>for <00:04:04.010>those <00:04:04.317>AI <00:04:04.578>workloads.

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<v Quote>"Earlier <00:04:06.402>this <00:04:06.578>year <00:04:07.223>we <00:04:07.362>said <00:04:07.543>we <00:04:07.698>plan <00:04:07.917>to <00:04:08.016>invest <00:04:08.341>approximately <00:04:09.090>$200 <00:04:09.840>billion <00:04:10.637>in <00:04:10.770>cash <00:04:11.170>capex <00:04:11.837>in <00:04:12.130>2026

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<v Quote>the <00:04:13.534>majority <00:04:13.917>of <00:04:14.010>which <00:04:14.237>to <00:04:14.340>support <00:04:14.850>AI <00:04:15.210>and <00:04:15.550>AWS," <00:04:16.770>Jassy <00:04:17.138>told <00:04:17.383>analysts <00:04:17.837>on <00:04:17.930>a <00:04:18.006>conference <00:04:18.418>call <00:04:18.637>about <00:04:18.810>its <00:04:18.978>financials.

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<v Bill>Amazon <00:04:20.702>just <00:04:21.102>raised <00:04:21.662>2026 <00:04:22.974>cash <00:04:23.522>capex <00:04:24.574>from <00:04:25.102>$200 <00:04:25.772>billion <00:04:26.702>to <00:04:27.102>$220 <00:04:28.352>billion, <00:04:29.868>partly <00:04:30.192>because <00:04:30.599>memory <00:04:31.062>costs <00:04:31.806>rose.

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<v Bill>And <00:04:33.185>Jassy <00:04:33.681>says <00:04:34.241>even <00:04:35.009>that <00:04:35.325>won’t <00:04:35.638>cover <00:04:35.996>demand <00:04:36.575>through <00:04:36.945>2027.

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<v Bill>At <00:04:38.737>some <00:04:38.918>point, <00:04:39.505>“we <00:04:39.905>can’t <00:04:40.305>build <00:04:40.801>fast <00:04:41.231>enough” <00:04:41.825>is <00:04:42.185>a <00:04:42.305>very <00:04:42.705>expensive <00:04:43.496>forecast <00:04:44.145>to <00:04:44.365>get <00:04:44.612>wrong.

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<v Cassidy>The <00:04:45.807>Register <00:04:46.353>puts <00:04:46.565>the <00:04:46.681>aggregate <00:04:47.212>at <00:04:47.325>roughly <00:04:47.865>$595 <00:04:49.465>billion <00:04:50.362>across <00:04:50.785>Amazon, <00:04:51.402>Google, <00:04:51.845>and <00:04:51.977>Microsoft.

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<v Cassidy>Grid <00:04:53.552>connections <00:04:54.085>and <00:04:54.191>memory <00:04:54.522>supply <00:04:54.905>don’t <00:04:55.185>bend <00:04:55.558>to <00:04:55.705>a <00:04:55.798>model-launch <00:04:56.518>calendar.

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<v Cassidy>Neither <00:04:57.798>do <00:04:57.948>construction <00:04:58.545>crews.

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<v Bill>AWS <00:05:00.271>pulled <00:05:00.625>in <00:05:00.905>$42.2 <00:05:02.345>billion <00:05:03.233>this <00:05:03.475>quarter, <00:05:04.545>up <00:05:04.865>36.7 <00:05:06.125>percent, <00:05:07.318>so <00:05:07.452>it’s <00:05:07.645>not <00:05:07.878>spending <00:05:08.385>on <00:05:08.625>vapor.

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<v Bill>But <00:05:09.969>fast-growing <00:05:10.685>revenue <00:05:11.145>and <00:05:11.305>a <00:05:11.385>quick <00:05:11.685>payback <00:05:12.305>on <00:05:12.665>$220 <00:05:13.395>billion <00:05:14.445>are <00:05:14.925>two <00:05:15.153>different <00:05:15.645>spreadsheets.

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<v Bill>SpaceX <00:05:17.969>just <00:05:18.305>got <00:05:18.593>that <00:05:18.842>lesson <00:05:19.276>priced <00:05:19.889>into <00:05:20.205>its <00:05:20.478>stock.

53
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<v Cassidy>Exactly. <00:05:22.225>A <00:05:22.745>$169 <00:05:23.935>billion <00:05:24.785>annualized <00:05:25.745>AWS <00:05:26.285>run <00:05:26.529>rate <00:05:26.865>is <00:05:27.123>enormous—Fortune <00:05:28.945>500 <00:05:29.412>scale <00:05:29.772>on <00:05:29.865>its <00:05:30.085>own—but <00:05:31.132>it <00:05:31.225>doesn’t <00:05:31.537>make <00:05:31.685>the <00:05:31.798>denominator <00:05:32.438>go <00:05:32.625>away.

54
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<v Cassidy>Wall <00:05:33.939>Street <00:05:34.198>is <00:05:34.355>finally <00:05:34.774>asking <00:05:35.215>whether <00:05:35.485>all <00:05:35.713>this <00:05:35.949>physical <00:05:36.358>buildout <00:05:36.825>has <00:05:37.025>a <00:05:37.145>revenue <00:05:37.489>ramp <00:05:37.802>behind <00:05:38.198>it.

55
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<v Cassidy>Converge <00:05:40.208>Digest, <00:05:41.093>with <00:05:41.377>Jim <00:05:41.617>Carroll:

56
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<v Quote>CoreWeave <00:05:42.947>announced <00:05:43.446>plans <00:05:43.832>to <00:05:44.008>expand <00:05:44.479>its <00:05:44.792>AI <00:05:45.126>cloud <00:05:45.530>platform <00:05:46.131>into <00:05:46.331>Indonesia

57
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<v Quote>marking <00:05:47.739>the <00:05:47.909>company’s <00:05:48.392>first <00:05:48.723>data <00:05:49.025>center <00:05:49.343>presence <00:05:49.726>in <00:05:49.799>the <00:05:49.923>Asia-Pacific <00:05:50.716>region.

58
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<v Quote>The <00:05:51.835>expansion <00:05:52.371>will <00:05:52.559>add <00:05:52.779>three <00:05:53.037>facilities <00:05:53.651>with <00:05:53.819>a <00:05:53.921>combined <00:05:54.579>360 <00:05:55.679>megawatts <00:05:56.232>of <00:05:56.390>contracted <00:05:57.032>IT <00:05:57.366>power

59
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<v Quote>with <00:05:58.439>the <00:05:58.552>sites <00:05:58.863>expected <00:05:59.272>to <00:05:59.411>come <00:05:59.596>online <00:05:59.992>in <00:06:00.179>2028.

60
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<v Bill>CoreWeave <00:06:02.271>has <00:06:02.831>360 <00:06:04.011>megawatts <00:06:04.698>of <00:06:04.809>contracted <00:06:05.578>IT <00:06:06.018>power <00:06:06.465>across <00:06:07.231>three <00:06:07.711>Indonesian <00:06:08.604>sites, <00:06:09.671>but <00:06:09.811>the <00:06:09.933>machines <00:06:10.471>don’t <00:06:10.740>arrive <00:06:11.204>until <00:06:11.631>2028.

61
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<v Bill>Investors <00:06:13.735>are <00:06:13.855>pricing <00:06:14.332>demand <00:06:14.768>years <00:06:15.281>before <00:06:15.635>any <00:06:15.946>hardware <00:06:16.606>serves <00:06:17.275>a <00:06:17.475>single <00:06:18.055>latency-sensitive <00:06:19.386>workload.

62
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<v Cassidy>And <00:06:20.515>CoreWeave <00:06:21.123>will <00:06:21.395>own <00:06:21.675>and <00:06:21.875>operate <00:06:22.455>the <00:06:22.565>compute <00:06:22.955>environment <00:06:23.486>itself.

63
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<v Cassidy>For <00:06:24.803>Southeast <00:06:25.288>Asian <00:06:25.611>customers <00:06:26.131>with <00:06:26.259>data-locality <00:06:27.155>rules

64
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<v Cassidy>control <00:06:28.403>over <00:06:28.615>the <00:06:28.723>inference <00:06:29.222>stack <00:06:29.615>may <00:06:29.829>matter <00:06:30.115>more <00:06:30.467>than <00:06:30.635>whose <00:06:30.915>logo <00:06:31.288>is <00:06:31.448>on <00:06:31.575>the <00:06:31.695>accelerator.

65
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<v Bill>Wall <00:06:33.075>Street <00:06:33.443>just <00:06:33.715>flinched <00:06:34.248>at <00:06:34.446>SpaceX’s <00:06:35.235>one-year <00:06:35.795>payoff <00:06:36.342>pitch.

66
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<v Bill>CoreWeave <00:06:38.195>has <00:06:38.515>until <00:06:38.995>2028—but <00:06:40.755>360 <00:06:41.775>megawatts <00:06:42.542>is <00:06:42.808>still <00:06:43.128>an <00:06:43.315>expensive <00:06:44.115>bet <00:06:44.462>on <00:06:44.742>local <00:06:45.155>demand <00:06:45.715>showing <00:06:46.355>up <00:06:46.648>on <00:06:46.986>schedule.

67
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<v Cassidy>NTT <00:06:48.820>Data <00:06:49.156>has <00:06:49.449>seven <00:06:49.769>years <00:06:50.089>to <00:06:50.242>pursue <00:06:50.556>a <00:06:50.656>gigawatt <00:06:51.183>in <00:06:51.343>Japan; <00:06:52.660>CoreWeave’s <00:06:53.223>first <00:06:53.620>Asia-Pacific <00:06:54.324>footprint <00:06:54.809>comes <00:06:55.145>online <00:06:55.609>in <00:06:55.796>2028.

68
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<v Cassidy>Model <00:06:57.865>cycles <00:06:58.356>run <00:06:58.649>in <00:06:58.836>months.

69
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<v Cassidy>Grid <00:07:00.267>capacity, <00:07:00.976>permits, <00:07:01.496>and <00:07:01.609>local <00:07:01.924>operating <00:07:02.423>teams <00:07:02.796>are <00:07:02.956>setting <00:07:03.256>the <00:07:03.378>calendar.

70
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<v Cassidy>DataMagz <00:07:05.260>writes:

71
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<v Quote>Samsung <00:07:08.485>SDS <00:07:08.945>has <00:07:09.109>launched <00:07:09.532>South <00:07:09.918>Korea’s <00:07:10.318>first <00:07:10.785>NPU-as-a-Service <00:07:12.465>(NPUaaS) <00:07:14.167>platform

72
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<v Quote>providing <00:07:15.765>enterprises <00:07:16.457>with <00:07:16.692>on-demand <00:07:17.294>access <00:07:17.785>to <00:07:18.025>FuriosaAI’s <00:07:19.405>RNGD <00:07:20.243>artificial <00:07:20.868>intelligence <00:07:21.433>inference <00:07:21.925>accelerators <00:07:22.635>through <00:07:23.005>the <00:07:23.135>Samsung <00:07:23.692>Cloud

73
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<v Quote>Platform. <00:07:25.165>The <00:07:25.515>service <00:07:25.915>enables <00:07:26.322>organisations <00:07:27.118>to <00:07:27.305>run <00:07:27.678>AI <00:07:27.985>inference <00:07:28.409>workloads <00:07:29.185>without <00:07:29.513>deploying <00:07:30.001>dedicated <00:07:30.558>hardware.

74
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<v Cassidy>Samsung <00:07:32.052>SDS <00:07:32.585>is <00:07:32.722>putting <00:07:32.992>FuriosaAI’s <00:07:34.172>RNGD <00:07:34.772>chips <00:07:35.229>inside <00:07:35.632>Samsung <00:07:36.119>Cloud, <00:07:36.980>with <00:07:37.272>one-, <00:07:38.032>two-, <00:07:38.836>four-, <00:07:39.292>and <00:07:39.452>eight-card <00:07:40.044>instances.

75
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<v Cassidy>That <00:07:41.802>matters: <00:07:42.852>a <00:07:42.978>Korean <00:07:43.310>enterprise <00:07:43.952>can <00:07:44.180>tune <00:07:44.432>its <00:07:44.663>deployment <00:07:45.212>and <00:07:45.392>run <00:07:45.628>inference <00:07:46.182>without <00:07:46.572>handing <00:07:46.872>the <00:07:46.972>whole <00:07:47.220>operating <00:07:47.705>layer <00:07:48.025>to <00:07:48.159>an <00:07:48.265>American

76
00:07:48.761 --> 00:07:50.069
<v Cassidy>hyperscaler.

77
00:07:50.069 --> 00:07:58.292
<v Bill>Furiosa <00:07:50.932>has <00:07:51.172>set <00:07:51.372>a <00:07:51.492>baseline: <00:07:52.692>512 <00:07:53.945>FP8 <00:07:54.612>teraflops <00:07:55.572>at <00:07:56.052>180 <00:07:56.919>watts <00:07:57.292>per <00:07:57.479>accelerator.

78
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<v Bill>Eight <00:07:59.345>cards <00:07:59.872>fit <00:08:00.105>in <00:08:00.252>a <00:08:00.342>roughly <00:08:00.932>3-kilowatt <00:08:02.041>server.

79
00:08:02.812 --> 00:08:13.332
<v Bill>Now <00:08:03.502>Samsung <00:08:04.312>SDS <00:08:04.912>has <00:08:05.145>to <00:08:05.305>prove <00:08:05.612>the <00:08:05.823>boring <00:08:06.432>but <00:08:06.719>decisive <00:08:07.668>part—throughput <00:08:09.252>per <00:08:09.572>dollar <00:08:10.159>on <00:08:10.425>an <00:08:10.612>actual <00:08:11.154>customer <00:08:11.732>workload.

80
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<v Cassidy>After <00:08:13.612>all <00:08:13.772>the <00:08:13.928>hundreds <00:08:14.239>of <00:08:14.345>billions <00:08:14.799>in <00:08:14.952>capex <00:08:15.519>we <00:08:15.620>just <00:08:15.892>ran <00:08:16.172>through, <00:08:16.948>this <00:08:17.065>is <00:08:17.204>more <00:08:17.401>useful <00:08:17.844>than <00:08:18.012>another <00:08:18.372>glossy <00:08:18.896>facility <00:08:19.308>rendering.

81
00:08:20.239 --> 00:08:27.362
<v Cassidy>NPUs <00:08:21.312>run <00:08:21.528>finished <00:08:21.903>models, <00:08:22.952>and <00:08:23.082>Samsung <00:08:23.732>SDS <00:08:24.265>is <00:08:24.402>selling <00:08:24.692>access <00:08:25.199>to <00:08:25.284>that <00:08:25.452>inference <00:08:25.865>layer <00:08:26.185>as <00:08:26.332>a <00:08:26.442>product.

82
00:08:27.362 --> 00:08:34.212
<v Bill>Right. <00:08:28.132>“Agentic <00:08:29.396>workloads” <00:08:30.143>sounds <00:08:30.761>lovely <00:08:31.239>until <00:08:31.592>the <00:08:31.709>eighth <00:08:32.116>step <00:08:32.452>fails <00:08:32.872>and <00:08:32.985>somebody <00:08:33.444>gets <00:08:33.652>paged.

83
00:08:34.412 --> 00:08:43.332
<v Bill>But <00:08:35.065>if <00:08:35.372>RNGD <00:08:36.265>delivers <00:08:36.743>comparable <00:08:37.332>latency <00:08:37.952>for <00:08:38.196>less <00:08:38.500>than <00:08:38.732>the <00:08:38.943>Nvidia <00:08:39.559>cloud <00:08:39.956>bill, <00:08:40.909>Korean <00:08:41.332>teams <00:08:41.796>will <00:08:42.121>switch <00:08:42.676>fast.

84
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<v Bill>Enterprise <00:08:44.665>procurement <00:08:45.359>is <00:08:45.639>never <00:08:46.045>sentimental.

85
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<v Cassidy>Want <00:08:47.872>to <00:08:47.952>go <00:08:48.062>deeper <00:08:48.432>on <00:08:48.505>the <00:08:48.608>infrastructure <00:08:49.262>behind <00:08:49.765>AI?

86
00:08:50.445 --> 00:08:55.125
<v Cassidy>Try <00:08:51.085>The <00:08:51.253>Data <00:08:51.491>Center <00:08:51.845>Daily—a <00:08:52.778>daily <00:08:53.098>briefing <00:08:53.605>on <00:08:53.898>AI <00:08:54.235>compute

87
00:08:55.182 --> 00:08:58.245
<v Cassidy>hyperscaler <00:08:56.265>capex <00:08:57.165>the <00:08:57.338>power <00:08:57.669>grid

88
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<v Cassidy>chip <00:08:58.554>supply <00:08:59.405>and <00:08:59.594>energy <00:09:00.065>markets <00:09:00.565>reshaped <00:09:01.178>by <00:09:01.334>intelligence <00:09:01.978>at <00:09:02.165>scale.

89
00:09:02.837 --> 00:09:05.285
<v Cassidy>Find <00:09:03.632>it <00:09:03.729>wherever <00:09:04.105>you <00:09:04.225>get <00:09:04.494>podcasts.

90
00:09:06.174 --> 00:09:14.974
<v Cassidy>One <00:09:06.294>thing <00:09:06.521>to <00:09:06.654>watch: <00:09:07.717>SpaceX <00:09:08.382>says <00:09:08.614>its <00:09:08.787>newly <00:09:09.119>contracted <00:09:09.894>$6.7 <00:09:11.004>billion <00:09:11.801>in <00:09:11.907>cloud-services <00:09:12.804>revenue <00:09:13.374>begins <00:09:13.918>ramping <00:09:14.281>in <00:09:14.404>October.

91
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<v Cassidy>Links <00:09:16.121>to <00:09:16.214>every <00:09:16.494>story <00:09:16.934>are <00:09:17.107>in <00:09:17.234>the <00:09:17.342>show <00:09:17.601>notes.

92
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<v Cassidy>Check <00:09:18.594>out <00:09:18.674>the <00:09:18.798>ones <00:09:19.070>that <00:09:19.168>caught <00:09:19.406>your <00:09:19.598>attention.

93
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<v Cassidy>That’s <00:09:21.267>AI <00:09:21.587>Daily <00:09:21.907>Briefing <00:09:22.314>for <00:09:22.561>today.

94
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<v Cassidy>This <00:09:23.641>is <00:09:23.774>a <00:09:23.904>Lantern <00:09:24.354>Podcast.