Jeremie Eliahou Ontiveros retweeted
interesting take from @SemiAnalysis_ that the data center moratoriums haven’t translated to actual megawatts lost ( yet)
open.substack.com/pub/semian…
Jeremie Eliahou Ontiveros retweeted
Replying to @JigarShahDC
You’re mixing up things here…sub-5MW on existing interconnects is real and it's useful. But it's scavenging spare headroom, which is finite and thinning fast (+ will attract NIMBY^10). That fills the marginal demand. It isn't where the bulk of capacity comes from.
This isn't a training vs inference split. The inference-first buyers in front of us right now are asking for hundreds of MW, not 5. Serving a frontier model isn't one chip answering one request - weights are sharded across 100s of accelerators that have to behave as a single tightly-coupled system, with all-to-all traffic between them on every token. If you break that across 40 sites you don't get 40x the throughput. You get worse utilization, worse batching, no prefix cache reuse and a materially worse cost per token.
The companies chasing the lowest latency are the ones needing the densest, most tightly-coupled deployments. Not the most distributed ones.
And 5ms isn't the constraint anyway. Time to first token is hundreds of ms, generation runs for seconds. Nobody's bottleneck is 5ms of transit.
The demand we see is 300MW+, and almost nobody can deliver it on a timeline that matters.
Also - as a power guy, you’re ignoring the opportunity of co-locating renewables power generation + BESS to be financed by fully-priced PPAs…which is really why I dont’t get why you’re on this “small metro area DC” crusade in the first place.
Jeremie Eliahou Ontiveros retweeted
A decommissioned GPU's best use case is aura farming in the frame. With compute so cheap in the cloud, Jeremie takes a page from SpaceX's future trajectory.
That same logic, compute pricing shaping behavior, is exactly what drives SpaceX's 10 gigawatt buildout and the $300 billion ARR case behind it.
$100M/megawatt economics, SpaceX's 10GW bet, Microsoft's offtaker role, and more on this week's SemiAnalysis Weekly
Jeremie Eliahou Ontiveros retweeted
SpaceX 10GW in 2027 – Why It’s Real,
Will Drive $500B ARR for SpaceX,
and Why Microsoft Will Be the Largest Offtaker
Inference at 100B/GW/year, SpaceX's stellar pace,
Microsoft's 10GW 2026 Awakening,
Azure Can Grow Tiple-Digits
semianalysis.substack.com/p/…
Jeremie Eliahou Ontiveros retweeted
SemiAnalysis’s Head of Data Center and Energy Infrastructure Research:
“Anthropic, we estimate, had 1.5 gigawatts of capacity at the end of 2025. By 2027, they’re going to have 10, so that’s 9 gigawatts in two years.
That’s essentially the size of Google today, and you have four companies trying to do that within the same timeframe.”
Jeremie Eliahou Ontiveros retweeted
Ask an AI expert to describe the strategy and competitive positioning of the individual hyperscalers, frontier labs and neoclouds with regard to chips and you'll get a detailed answer.
Ask them the same thing with regard to power and you'll get very little. This is a mistake.
So, to rectify the situation, I went deep with Jeremie Eliahou Ontiveros of @SemiAnalysis_ on @CatalystPod .
Watch: lnkd.in/ggFVeWsH
Listen: lnkd.in/gyh55U6X
Looking forward to this conversation!
Many thanks to @anissagardizy8 for the invite!
Excited to chat with this stellar crew about compute and infrastructure!
Wednesday, May 20. 11 a.m. PST.
RSVP: theinformation.com/events/lv… @sk7037 @AnjneyMidha @JeremieEO
Jeremie Eliahou Ontiveros retweeted
First-try Gold, team smaller than a single hyperscaler standup - join us.
Small team, big W. Join us to turn bronze tier infra into a gold tier cloud: careers.fluidstack.io/jobs
Jeremie Eliahou Ontiveros retweeted
Semi-Analysis's @JeremieEO on @tbpn last week:
"2025 was an insane year for the (data center) leasing market, and everything points to 2026, 2027 just accelerating."
Towards the end of 2025, Applied Digital $APLD, Cipher $CIFR, and Hut 8 $HUT signed the most attractive large scale (e.g. 200MW+) leases with investment grade hyperscaler counterparties to-date..
The incremental 830MW of power that Galaxy Digital $GLXY received final ERCOT approval on yesterday seems to have arrived at a fortuitous time..
Happy Friday. On today’s show:
- @bhorowitz (a16z)
- @arampell (a16z)
- @DavidGeorge83 (a16z)
- @jkhamehl (a16z)
- @JeremieEO (SemiAnalysis)
See you on the stream.
a16z's Size, Ben Horowitz Joins, AI needs a (Steve) Jobs, Tim Cook's Retirement, WSJ Mansion Section xitter.cf/i/broadcasts/1jMJgRXen…
Jeremie Eliahou Ontiveros retweeted
ClusterMAX 2.0 is here!
In this update we rate 84 neoclouds, up from 26
Our market view tracks 209 providers, up from 169 in March and 124 last October
We spoke to over 140 end users as part of the research
And we wrote over 43,000 words about our experience
This is more than Animal Farm, but less than The Great Gatsby
More thoughts in 🧵
ClusterMAX 2.0:
The Industry Standard GPU Cloud Rating System
95% Coverage By Volume,
84 Providers Rated,
209 Providers Tracked,
140+ Customers Surveyed,
40,000 Words For Your Enjoyment
newsletter.semianalysis.com/…
Jeremie Eliahou Ontiveros retweeted
Too often, AI and energy conversations happen in separate rooms. That gap inspired @themeghamachine and I to launch the Watt & Why Series ⚡
Excited to kick this off and big thanks to @CrusoeAI and @SemiAnalysis_ for co-hosting the first session.
A space that brings everyone from AI researchers to energy traders together for the conversations that will shape our future!
Come join the #ADMIS Houston Team Oct 16!
Watt & Why: Energy x AI Talk in San Francisco 🌉
A special session on how hyperscale data centers reshaping power systems in our AI future.
Seats are limited. ➡️ Request to join: hubs.ly/Q03H463k0
Amazon and Anthropic clearly aren't falling behind on GenAI :)
Amazon’s AI Resurgence:
AWS & Anthropic’s Multi-Gigawatt Trainium Expansion
Anthropic multi-gigawatt clusters, Trainium ramp,
best TCO per memory bandwidth,
system-level roadmap,
Bedrock and internal models
semianalysis.com/2025/09/03/…
Thanks for the invite @AndrewRangeley !! Looking forward to our next convo!!
Podcast #331 is up!
@JeremieEO returns to talk all things data centers / power
yetanothervalueblog.com/p/se…
Jeremie Eliahou Ontiveros retweeted
Microsoft datacenter strategy – still in⏸️mode 🧵
@JeremieEO
Four months ago we flagged Microsoft’s pause on more than 1.5 GW of self-build capacity — on top of the leasing freeze we called out in December. Microsoft’s latest 10-K backs us up: committed datacenter construction is down year over year, almost no new leases were signed in the past 12 months, and land purchases have plunged relative to FY 24.
Jeremie Eliahou Ontiveros retweeted
Robotics Levels of Autonomy
Single-Purpose Robots Automating Hundreds of Jobs
Pick And Place with low Autonomy is Expensive
General Purpose Autonomy Navigating
And Inspecting Large Sites
Targeting Low-Skill Labor In Early Pilots with Promise
Autonomy Capable Of Any Task in Research
semianalysis.com/2025/07/30/…
Jeremie Eliahou Ontiveros retweeted
Last week, @mims asked us if NVIDIA’s claims for 30x inference performance with Blackwell were exaggerated.
We said yes, 30x improvement is gen-on-gen, doesn’t consider perf/$, and only applies in specific scenarios (large MOE’s).
So, Chris put me on the front page of wsj dot com saying that Groq can “deliver inference at a lower cost than is possible with NVIDIA systems”.
Is Groq’s technology credible? It’s an interesting question that I didn’t answer.
Lets unpack it.
Jeremie Eliahou Ontiveros retweeted
We spoke with @JeremieEO (Analyst @SemiAnalysis) about the US data center race:
"Since mid-2023, there's a frantic search for power happening in the US and worldwide."
"There's ~500 gigawatts of data center load requests in the US which is a figure close to the nation's actual peak load."
"Only 20% of these projects may be real by 2030."
"Tax breaks, expedited permits, and on-site power solutions are key in this competition."
Going live on @tbpn at 12:45P PT to talk about Meta, Oracle and big AI clusters!!
Jeremie Eliahou Ontiveros retweeted
Meta Superintelligence
Leadership Compute, Talent, and Data
Massive AI Datacenter Cluster "The Tent"
Llama Behemoth 4 Failure Post-Mortem
Talent Wars, AI Data, Zucc Founder Mode
Meta Will Never Pay Taxes Again
semianalysis.com/2025/07/11/…
Analyst Credit: @dylan522p, @JeremieEO, Wei Zhou, @aj_kourabi, @mayabarkin

























