This week, San Francisco just wrapped Goldman Sachs’ annual Communacopia tech conference. The on-stage talks are public, but the real information density came from several days of packed management meetings.
Public-company executives, fund managers, and analysts sat together discussing orders, capex, product cadence, and their views on the next one to two years.
For the past three years, the question was always “are there enough chips?” Now people are asking more and more: who actually makes money in the AI business, and how much?
After several key sessions, the outline of the next phase is already fairly clear.
Broadcom(AVGO 0.00%↑): compute is starting to be measured by return
Broadcom CEO Hock Tan offered a framework: how much economic value corresponds to 1 GW of frontier AI compute.
GW is a power unit. 1 GW is roughly the output of a mid-sized nuclear plant. Large AI data centers are increasingly using GW to measure scale.
