For twenty years, the market learned to value tech through software instincts: users, APIs, developers, distribution, network effects, gross margins. But AI breaks that mental model because AI is not just software. AI is throughput. And throughput is physical.
NVIDIA has become the firm that tells the rest of the ecosystem: build around this rack, this network, this software stack, this power envelope, this deployment cadence, this roadmap.
NVIDIA is not just chasing demand. It is manufacturing deployability.
Robert Way/iStock Editorial via Getty Images
For twenty years, the market learned to value tech through software instincts: users, APIs, developers, distribution, network effects, gross margins. But AI breaks that mental model because AI is not just software. AI is throughput. And throughput is physical.
