Trump Is A Lame Duck President Already
GPU Commoditization is Inevitable
Bessent’s Days Are Numbered
Trump Is A Lame Duck President Already
GPU Commoditization is Inevitable
Nvidia announced earnings Wednesday night to much fanfare and then much selling.
Just the day before came the announcement that Google’s Gemini 3 was trained on TPUs. By many reports, it got better results than it is competitors without using Nvidia GPUs.
So now what happens if Google undercuts OpenAI on price?
“If Google were to make those TPUs commercially available at scale and reasonable price, Nvidia’s dominance would end, price wars would begin, and compute would become a commodity.” Gary Marcus
Even if this isn’t a thing, as much as some fear, enter MicroLED from Microsoft.
Our Geoffrey dug into a paper a client sent him that the market hasn’t priced in.
“MicroLED removes this problem of electricity transmission making the cluster approach completely viable.Use a ton of commodity chips, interconnect them without power costs, and you beat the “super architecture” chips.”
For the geeks: MicroLED makes Blackwell architecture obsolete.
And don’t forget DeepSeek and all the competitors it spawned in China who run open-source AI on cheap local or cloud hardware also do not need NVDA’s GPUs.
Point is: Nvidia’s CEO can continue to push the narrative that Blackwell is sold out and demand is incredible, but the alternatives are clearly growing and the Big Short bears are getting louder.
