原文：
Serenity 白毛女-中文翻译（公开）
Serenity 白毛女-中文翻译（公开）
原文：
So spent some more time to look at more DBS conference material:
- "Two semiconductor giants, $AVGO and $INTC, both stated that breakthroughs in AI will keep demand for chip investment elevated for at least another 2 years. As current supply is insufficient to meet market demand."
- "Current chip production capacity is already far from sufficient to meet demand, and $AVGO CEO expects the shortage to become even more severe in the future." (HKEJ)
- "Regarding OpenAI, Hock Tan stated that the market had misinterpreted the company because its underlying fundamentals remained strong.
He argued that investors who sell based on a single short-term data point [$50B ARR] are "essentially no different from people gambling in a casino." (eg. Hong Kong Economic Journal):
- Commenting on investors' disappointment in OpenAI’s latest revenue forecast: "by itself, not that bad" on their $50B ARR. (Business Times)
And connected investors' disappointment to a failure to understand the business and excessive expectations like a casino.
- Tan rejected the proposition that OpenAI was overvalued. It quotes him saying:
"It’s almost like they are in a casino gambling" in regards to investors' unrealistic expectations and lack of understanding on OpenAI.
- Hock Tan if OpenAI and Anthropic achieve widespread market adoption: their attractiveness would substantially strengthen their bargaining power when raising capital.
But cautioned elevated global interest rates could make capital requirements a constraint for future growth.
- The real driver, he said, is whether frontier AI companies can create models that generate enough value and returns to justify the buildout. (which is fair)
- Most companies are wasting money on tokens. He also warned that most companies just waste money spending tokens like kids in a video arcade.
This part was the most badly worded by Hock Tan
So spent some more time to look at more DBS conference material:
- "Two semiconductor giants, $AVGO and $INTC, both stated that breakthroughs in AI will keep demand for chip investment elevated for at least another 2 years. As current supply is insufficient to meet market demand."
- "Current chip production capacity is already far from sufficient to meet demand, and $AVGO CEO expects the shortage to become even more severe in the future." (HKEJ)
- "Regarding OpenAI, Hock Tan stated that the market had misinterpreted the company because its underlying fundamentals remained strong.
He argued that investors who sell based on a single short-term data point [$50B ARR] are "essentially no different from people gambling in a casino." (eg. Hong Kong Economic Journal):
- Commenting on investors' disappointment in OpenAI’s latest revenue forecast: "by itself, not that bad" on their $50B ARR. (Business Times)
And connected investors' disappointment to a failure to understand the business and excessive expectations like a casino.
- Tan rejected the proposition that OpenAI was overvalued. It quotes him saying:
"It’s almost like they are in a casino gambling" in regards to investors' unrealistic expectations and lack of understanding on OpenAI.
- Hock Tan if OpenAI and Anthropic achieve widespread market adoption: their attractiveness would substantially strengthen their bargaining power when raising capital.
But cautioned elevated global interest rates could make capital requirements a constraint for future growth.
- The real driver, he said, is whether frontier AI companies can create models that generate enough value and returns to justify the buildout. (which is fair)
- Most companies are wasting money on tokens. He also warned that most companies just waste money spending tokens like kids in a video arcade.
This part was the most badly worded by Hock Tan
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