daniel roberts

Nvidia's ecosystem, standards, and incubated software stack give it a massive lead; custom silicon from hyperscalers is arriving but following Nvidia roadmaps remains the safest way to build at scale early.

By building data centers at stranded renewable sources (West Texas has 45-50 GW wind/solar but only 12 GW transmission), IREN arbitrages cheap green energy into high-value compute, with grid connection guaranteeing 24/7 reliability.

Compute efficiency gains (lower token cost, faster inference) induce exponentially more usage (Jevons paradox), so demand grows with supply; no slowdown expected.

IREN's 8-year head start securing land, permits, and grid connections at stranded renewable energy sites (West Texas wind/solar, BC hydro) gives them 4.5 GW of power — a scarce asset — with Microsoft contract representing only 5% of capacity; demand is 'gangbusters' with zero idle GPUs globally.