Ruben

Data Scientist ◆ Consultant ◆ Engineer

[Ruben @rossbach_io]

AMD and Intel will never catch up to Nvidia in AI.

The biggest things in AI right now, GPT-3 and Stable Diffusion, are all optimized for Nvidia's #CUDA platform.

Try training a model on an Intel GPU - it's much harder to do, if even possible. The distance will only grow.

$NVDA

[Ruben @rossbach_io]

@EricBuess Don’t forget this one
https://t.co/imxAcUNpjy

[vittorio @IterIntellectus]

holy shit
i asked claude to make a video on western civiization

[Ruben @rossbach_io]

@JamesonCamp Do you access it with Codex?

[Ruben @rossbach_io]

@MatthewBerman @bot The „Item Seller“ is something I wanted to try as well. How is it working for you?

[Ruben @rossbach_io]

Assuming the entire current portfolio will be transformed to AI data centers.
Assuming BC will be air cooled because of cold weather, and Texas liquid cooled. Then we get:

BC: 160MW
Childress: 750MW * 2/3 = 500MW
SW: 2,000MW * 2/3 = 1,333MW

Total: ~2,000MW IT load (+ pipeline)

[Ruben @rossbach_io]

$IREN important to note: the "750MW" Childress campus supports only 500MW IT load with liquid cooling.

Horizon 1-4 uses 300MW, and we know from the $MSFT deal that this translates to 200MW IT load.

What does this mean for the total portfolio? (1/2)

[Ruben @rossbach_io]

@TheBronxViking Non-operating earnings from their covered call deal in conjunction with the capital raise

[Ruben @rossbach_io]

@jiahanjimliu Thanks for the analysis. Since IREN is using solar power, I assume they will need to invest in generators to achieve that 99.9% uptime, right? I believe that might contribute to the 2m acceleration cost.

[Ruben @rossbach_io]

@mcF_dan @litigious_dulce Are you comparing with the $1.8M/MW for CIFR, WULF etc.? Because those are just colocation.
But I agree the 20% up front is a great deal.

[Ruben @rossbach_io]

@InvestingVisual $GOOGL would be next level, because that’s their main competitor now.
But if capacity is really that constrained, they might even sign up with Google.

[Ruben @rossbach_io]

@FransBakker9812 The power cost is only for one year. Shouldn’t that be *5?

[Ruben @rossbach_io]

@gordongekko $NVDA has been a large cap for a long time

[Ruben @rossbach_io]

@TakeThiamine What gender are these judges?

[Ruben @rossbach_io]

@InvestingVisual The stream coming from „Operating Income“ to „Net Income“ is about 10B, right? So it should be a similar size as „Other Income“. Is it just me not seeing it?

[Ruben @rossbach_io]

@7radek 20x P/S (not P/E) for a high CapEx infra business?
I’m long IREN, but this makes me scared to be on the same side of the trade as you.

[Ruben @rossbach_io]

@borrowed_ideas And this is also faster than Google and Microsoft, in absolute dollars:
https://t.co/zoAOQIyQYL

[Ruben @rossbach_io]

AWS is the fastest growing cloud platform in absolute numbers

$AMZN +2.1 B
$MSFT +1.0 B
$GOOGL +1.6B

Yes, Google and Microsoft are growing faster in relative terms. But the absolute revenue lead for AWS is growing!
(for MSFT, using "Intelligent Cloud" revenue)

[Ruben @rossbach_io]

@fiscal_ai Despite the lowest relative growth, $AMZN is widening the gap in absolute terms:
https://t.co/zoAOQIyQYL

[Ruben @rossbach_io]

AWS is the fastest growing cloud platform in absolute numbers

$AMZN +2.1 B
$MSFT +1.0 B
$GOOGL +1.6B

Yes, Google and Microsoft are growing faster in relative terms. But the absolute revenue lead for AWS is growing!
(for MSFT, using "Intelligent Cloud" revenue)

[Ruben @rossbach_io]

@EconomyApp Awesome visual!

[Ruben @rossbach_io]

@SCurveCapital Could be BTC weighing on the miners. Luckily IREN doesn't hodl any BTC.

[Ruben @rossbach_io]

@LeaderInvests An issue I see is they both hodl a lot of BTC and both continue to increase their hash rate. This makes them vulnerable if this was the peak of the cycle.
IREN sells all BTC every day and paused hash rate expansion. Going fully into AI now.