SpaceX is ready to scale Starlink v3 - what that means for the company and its TAM.

Wanted to share a rewrite of The Great Gatsby from Gatsby's POV - titled "From This Shore".

A friend of mine wrote it and asked to help spread the word if I like it. Figured this was the right place for it.

The story is same - but few things changed/added. I don't want to spoil the details too much - but lets just say he added interesting relationship between Gatsby and Jordan.

A snippet from the first chapter:

"She had been five years away from me. That was the fact I

lived inside, the way some men live inside a particular grief until

it becomes the very architecture of their thinking. I had known

her in Louisville in 1917, before I shipped out — known her

briefly, intensely, with the kind of certainty you only get when

you are young and the future still seems supple enough to bend

toward whatever you desire. She had a voice that seemed to

promise something, not anything specific, but something, always

something hovering just ahead of what she was saying. When I

left for the front I had believed that returning would be simple,

that what we had was the kind of thing that waited. I had been

wrong about that, though not about much else."

Link to the book - https://www.amazon.com/dp/B0HC81468F

Applied Intuition’s founders say that is physical AI in miniature: the technology works, and the company still dies if it handles the moment after the accident wrong.

Qasar Younis (CEO) and Peter Ludwig (CTO) sat down with a16z’s Marc Andreessen and Erik Torenberg to launch Dana, a new agentic platform for building autonomous systems, and to make a bigger claim. Physical AI, meaning intelligence in machines that move, out-earns digital AI within 25 years.

Few tidbits from the podcast:

• Applied Intuition’s business is already 70% non-automotive, which Younis reads as proof physical AI is bigger than the robotaxi trade everyone watches Qasar @ 4:00
• General Motors shut down Cruise’s robotaxi program after one pedestrian-dragging injury, a shutdown Younis says was a choice, not a law of physics Qasar @ 20:15
• Younis, an operator inside the space, puts routine robotaxi ubiquity at 2032-33, availability by 2030 Qasar @ 41:09
• Applied Intuition launched Dana, an agentic platform meant to let a high schooler build an autonomous system Qasar @ 49:59

Interview Link: https://www.youtube.com/watch?v=fr1IQspixmM

Interesting points from this interview:

• China sales are approximately zero today, and Huang has told investors not to expect any Jensen @ 6:05
• The Kimi selloff repeats the DeepSeek mistake: more open models mean more usage, which means more NVIDIA chips, not fewer Jensen @ 27:45
• No AI bubble for at least five years, capped by chips, memory, land, and power, not by demand Jensen @ 36:22
• AI job-destruction fear is “complete nonsense,” Huang says, citing rising radiologist, paralegal, and factory headcounts Jensen @ 24:26

The Street trades NVIDIA on one story: the AI capex supercycle. So every strong Chinese open model reads as a demand threat and gets sold. Huang’s whole argument is that the reflex runs backwards.

We have updated our NVIDIA projection models with this podcast info - and now the bull target for 2036 is at $900/share - ~4.5x from today's price. No changes to base case of $520 in 2036.

https://preview.redd.it/86g0tgq8w0fh1.png?width=1305&format=png&auto=webp&s=6231fb39246e474bc6aa48a5babee10bc84e92fd

Wanted to share this quick summary of Jensen's recent guest appearance in Stanford's class talking about how the computer architecture paradigm is shifting from 'pre-recorded' to 'generated'.

Pretty interesting discussions on co-design optimizations he has learned throughout his career.

Full youtube lecture - https://youtu.be/tsQB0n0YV3k?si=TSiwBCkws1g7eN97

Don't want to spam in here - just thought this group might be interested in his insights. Cheers!

Last week Jensen talked to Stanford students as guest lecturer.

Jensen claims NVIDIA's cross-stack co-design philosophy - simultaneously optimizing chips, compilers, frameworks, algorithms, networking, and storage - produced 1 million X compute scaling over 10 years, versus the 10X Moore's Law would have delivered over the same period (and likely less given Dennard scaling breakdown).

This is Jensen's central argument for why NVIDIA's architecture approach is categorically different from general-purpose computing, and why AI researchers were able to scale to all-internet-corpus training rather than curating datasets.

Then he continued talking about upcoming roadmap.

Jensen outlines NVIDIA's generation-by-generation GPU architecture philosophy: each generation is designed for the dominant compute pattern of the next wave, not the current one. Hopper was built for pre-training before pre-training was clearly the dominant workload. Blackwell was built for inference/decode before that workload scaled. Vera Rubin is designed for agents - with new hardware choices specific to agentic workloads: direct storage-to-fabric coupling (for long-term agent memory), and a new CPU designed for low-latency single-threaded tool execution rather than the high-core-count CPUs built for cloud batch.

If he has been already planning for agentic workloads - can he continue to deliver 10x to 100x improvements with the co-design approach?

Steve Eisman says he's nervous. He also trimmed his high-flyers. He is not calling a recession.

That combination - reduce risk without a directional call - is rarer than it sounds. Most investors hold until they have conviction. Eisman's read is structural: semiconductors are now 18% of the S&P (up from 14% in January), Nvidia is larger than the entire healthcare sector, and retail call buying on the MAG 10 is at its heaviest pace since 2021.

The last time retail was positioned this aggressively in calls was the peak of the pandemic speculation wave.
If that framing concerns you, the full notes are in the link.

Listened to the full 77-minute Saylor episode on Peter McCormack's show from April 30. He makes three separate arguments that stack into one:

1. You're getting poorer,
2. AI will close the exit door on skilled labor, and
3. Bitcoin is the only asset class that isn't subject to either.

I want to lay out the argument in the linked post, and hear what do you all think of his financial architecture.

Volozh explained on Accel's Spotlight On that Meta's $27B contract includes a $15B off-take backstop - not revenue, but collateral. Nebius takes it to a bank, borrows against it, and builds a cloud for thousands of smaller AI startups who pay spot rates. The spread between the contracted wholesale rate and the retail spot rate is where Nebius's unit economics actually live.

This is not a neocloud. It is a capital-markets-native infrastructure company using hyperscaler credit quality to fund a high-margin retail cloud.

What do you all think about potential risks if the startups adoption doesn't come through?