Open before us is page 8 of the June 8 edition of The Transcript, a weekly roundup of earnings-call excerpts. The first quotation, from Lip-Bu Tan, CEO of Intel Corp., sets the tone for what follows: "We see token usage exploding. Agent now consumes 1,000x more tokens than single-event reasoning."
Sundar Pichai, CEO of Alphabet, Inc., is next: "[W]e are experiencing strong demand for our AI solutions from enterprises and consumers, at levels that are meaningfully exceeding our available supply."
He is followed by the CEO of Microsoft Corp., Satya Nadella: "[W]e are supply-constrained... The thing that we do not want to do is to disappoint especially our enterprise consumers on Azure."
Then comes Jeffrey Clarke, COO of Dell Technologies: "Demand continues to exceed supply with memory as the primary constraint, and we expect to exit the year with meaningful backlog."
And not to forget Jensen Huang, CEO of Nvidia Corp.: "[W]e don't have enough supply. The reason for that is because the world supply chain is supply-constrained. We have the support of our ecosystem to have very robust growth, and well in support of whatever guidance we've provided."
Finally appears the CEO of Cerebras Systems, Inc., Andrew Feldman: "What is unusual about AI right now is the builders are so far behind the demand, it's absurd. We have a backlog of more than $2 billion of demand... [N]one of us, not us, not AMD, not Nvidia, can keep up with the demand that your employees are driving. And that's sort of, in a lot of ways, the opposite of a bubble. We are chasing, right? Our customers and their customers are moving at the speed of software, and we're moving at the speed of real estate, data centers, right? Um, and so we are behind."
~ Grant's Interest Rate Observer, "Hanging by a stock price," June 19, 2026
No comments:
Post a Comment