One feeling that I have is that we currently have:
1. Underpriced AI products (tokens too cheap)
2. Bottlenecked AI spend (can't get enough chips, can't build enough DCs)
So it's possible that prices will rise until demand meets the bottlenecked production, potentially with no trough or collapse (excepting that part of the financial model that is demanding outsize growth).
One feeling that I have is that we currently have:
1. Underpriced AI products (tokens too cheap)
2. Bottlenecked AI spend (can't get enough chips, can't build enough DCs)
So it's possible that prices will rise until demand meets the bottlenecked production, potentially with no trough or collapse (excepting that part of the financial model that is demanding outsize growth).
What makes you think tokens are too cheap? I can run qwen 3.8 27b on my 5090 for the price of electricity. If anything, tokens are overpriced.
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