EP 283: Mag 7 Earnings: Meta's Capex, AWS Comeback, NVIDIA GTC 2025, and Apple's iPhone Miss

The Six Five with Patrick Moorhead and Daniel Newman

On this episode of The Six Five Pod, hosts Patrick Moorhead and Daniel Newman discuss the tech news stories that made headlines this week. The handpicked topics for this week are:

1. Key Takeaways from NVIDIA GTC and Infrastructure Build-Out: Jensen Huang's keynote delivery. Nvidia's co-architecture approach to power systems, water systems, and manufacturing. Partnerships with Vertiv, Siemens, and GE Vernova for infrastructure development. Key partnership announcements from NVIDIA to build seven supercomputers, competing with AMD's dominance.

2. OpenAI and Microsoft Partnership Restructuring: Microsoft's $12-13 billion investment for 50/50 partnership structure. Renegotiation allowing OpenAI conversion to a for-profit entity. Microsoft's potential 27% ownership stake valued at approximately $270 billion. Sam Altman's equity position and IPO preparation for a potential trillion-dollar valuation.

3. Qualcomm's AI Chip Launch: AI 200 and AI 250 announcement driving 20% stock price surge. Strong Wall Street reaction despite limited technical details available. Credible entry into the data center market with scale-up methodology. 2027 timeline for scale-up technologies, including NVLink adoption.

4. DOE Supercomputer Partnerships: AMD's billion-dollar partnership for two additional supercomputers. Continued dominance in high-performance computing with 64-bit precision. U.S. Secretary of Energy Chris Wright's recent recognition from both NVIDIA's Jensen Huang and AMD's Lisa Su. Highlights of government investments towards winning science across multiple domains.

5. AWS Anthropic Trainium Partnership: A one-million Trainium chips commitment from Anthropic. Validation of AWS's custom silicon strategy. Recognition that all available chips are selling in the current market. Multi-generation improvement trajectory similar to Google's TPU.

6. Google Public Sector Event Highlights: Google's military and government sector transformation under Google Cloud CEO, Thomas Kurian. Impressive Gemini for Government agent demonstrations. Seven-minute agent creation showcasing platform capabilities. On-premise GDC deployment with Lockheed Martin for air-gapped AI.

7. Government Stakes Debate: Discussion of AI, quantum, rare earth minerals, and chip manufacturing.

8. Federal Reserve Rate Cut: Fed Chairman Powell's extensive data center commentary.

9. OpenAI Valuation: A trillion-dollar IPO valuation deemed "completely bonkers."

10. ServiceNow Earnings, Alphabet/Google Earnings, Meta Earnings: Unpacking tech's earnings season.

11. Microsoft Azure: 40% Azure growth with $400 billion booked business.

For a deeper dive into each topic, please click on the links above. Be sure to subscribe to The Six Five Pod so you never miss an episode.