Locator: 48979NVDA.
Updates
September 14, 2025: link here.
Original Post
Earnings call:
Nvidia CEO Jensen Huang said he anticipates the largest AI companies will spend $3 trillion to $4 trillion over the next five years. He noted that for every $50 billion to $60 billion that companies spend on AI data centers, Nvidia can capture around $35 billion of that spending.
Tokens:
In the context of AI, a token is the basic unit of text or data that an AI model processes. For text-based AI, tokens can be words, parts of words, or punctuation, which are then converted into numerical representations. The AI model breaks down input into these tokens, processes them to identify patterns and context, and then generates output also in the form of tokens. Different models use different tokenization strategies, and the concept of "tokens" is also used in crypto to refer to digital assets.
Google search tokens:
- one year ago: 9 trillion tokens
- currently: 980 trillion tokens
Market value:
Compute power; Jensen Huang has said that going from “simple search” to “generative AI” will require 100x compute power. The numbers jibe.
Free cash flow, link here.
Nvidia sale, link here. You might want to check out this link and the thread.
Stock buybacks, link here.
