Chipstrat
This piece kicks off a new series on robotics. I’ll walk through the key ideas from first principles, starting with computer vision, and explain how GenAI changes what’s possible in robotics. Note that I’m pulling on some other ongoing threads on Chipstrat, so after this post, we’ll take a break fro
Chipstrat
Hey everyone! I was off the grid last week while attending Intel Vision. It was a significant moment for me, witnessing Intel CEO Lip-Bu Tan’s first public appearance at my inaugural event as an analyst: I had face-to-face meetings with executives, discussing the expected topics and some unexpected
Chipstrat
One thing stood out in NVIDIA’s GTC Financial Analyst Q&A: CEO Jensen Huang didn’t feel heard. His tone and demeanor suggested he was frustrated that his message wasn’t landing. Watch the event from ~12:03 to 13:00 or so in the video here. Jensen Huang: And we’re not just building a chip, we’re buil
Chipstrat
We’re going to very gently discuss networking and GPUs. It’s an important topic, but it can feel boring or esoteric. Hang with me! Motivation Training an LLM requires a lot of floating point operations (FLOPs): Source How long to train these models? If a single GPU can produce about 2 PetaFLOP/s (2
Chipstrat
Remember Jan 27th when Nvidia lost half a trillion dollars in market cap? An inconspicuous table buried in a paper played a key role: What did this paper actually say? Welcome to the third and final post in a series looking at DeepSeek. Let’s think things through from first principles. We can talk a
Chipstrat
Nvidia’s 2025 earnings call was more revealing than it seemed. Is cost-per-token now the key battleground for AI infrastructure? Why is Nvidia pushing Ethernet, and what does that mean for Infiniband? What happens to aging GPUs? We’ll also explore Nvidia’s positioning against AI ASICs, revenue conce
Chipstrat
We previously looked at DeepSeek’s reasoning model R1 and distilled variants. I started with the reasoning model because it could upend OpenAI’s business model, which seems to be playing out: Source Why keep reasoning proprietary after DeepSeek’s open weights R1? Yet a lot of investors freaked out b
Chipstrat
AMD’s 60% CAGR guidance for the AI accelerator TAM is something of a double-edged sword. On one hand, it reinforces confidence in the long-term expansion of the AI market. On the other, it implicitly suggests that AMD’s Instinct growth will track similarly. AMD recently decided to stop breaking out
Chipstrat
Much ink has already been spilled about DeepSeek, yet the conversation tends to skew either highly technical or completely surface-level. This research report delivers an accessible yet technically grounded analysis of the DeepSeek R1 paper, highlighting its implications for the semiconductor indust
Chipstrat
What DeepSeek means for Microsoft Copilot+ PCs, Qualcomm & Arm, Copilot+ Cloud cannibalization The trajectory of generative AI in consumer devices has always been a matter of when, not if. DeepSeek’s distilled R1 models suggest on-device AI is coming sooner than anticipated. I’ve written extensively