Home Speakers David Cahn Quote GPU computing is increasingly turning into a commodity, metered per hour. Unlike the CPU cloud, which became an oligopoly, new entrants building dedicated AI clouds continue to flood the market. Without a monopoly or oligopoly, high fixed cost + low marginal cost businesses almost always see prices competed down to marginal cost (e.g., airlines).
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More from David Cahn Essay AI in 2026: A Tale of Two AIs Dec 3, 2025
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But we need to make sure not to believe in the delusion that has now spread from Silicon Valley to the rest of the country, and indeed the world. That delusion says that we’re all going to get rich quick, because AGI is coming tomorrow, and we all need to stockpile the only valuable resource, which is GPUs.
On the same topics Blog The Most Important Market in AI is the Middle Sep 23, 2026
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Pure capability no longer translates directly into a moat. About this quote 
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