Andrew Feldman is the co-founder and CEO of Cerebras Systems. This month, Cerebras went public achieving a market cap of $70BN, the largest semiconductor IPO in history. Cerebras has a massive commercial backlog with a monumental, multi-year $20 billion compute agreement from OpenAI. AGENDA: 05:58 - Why we are not in an infrastructure bubble and it is just the start 08:00 - Sam Altman&#x27;s superpower is his ability to forecast capex spend. 08:58 - Anthropic did not get a good deal with Elon. They got a deal that was available. 10:39 - What is going on with the price of memory and why is it a problem? 16:40 - Are Google best positioned to produce tokens and what challenges do they face? 19:23 - Is Coreweave dramatically undervalued or overvalued? 24:34 - My biggest advice to entrepreneurs scaling their business 30:13 - Why most of the layoffs are AI-washed and 33:41 - What will we spend on tokens for software engineers in five years? 34:48 - Why does the role of HR change so significantly in the world of AI? 35:36 - Why lawyers are the biggest inhibitor of enterprise AI adoption 39:20 - Why Jensen and Nvidia are wrong to sell chips to China 42:49 - What needs to change in the U.S. to build a strategic asset in chips? 51:00 - Should Cerebras invest in companies building on top of their platform; as Nvidia is? 53:28 - Nothing changed when Cerebras IPO&#x27;d but I did make 800 millionaires.

20VC: Cerebras CEO on the Future of Data Centres, Token Costs and Memory | We are Not in an Infra Bubble &amp; Dario Got a Bad Deal with Elon for Compute | Should US Companies Sell to China &amp; Why Most Layoffs are AI Washed with Andrew Feldman

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

# Full Transcript

**Podcast:** The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

## Transcript

[SPEAKER_A] We can't build data centres fast enough to keep up with demand. We have a $25 billion backlog. If demand stays high, we are gonna continue to see memory shortages for at least the next several years. I think it has been Nvidia's strategy to try and create competitors for the traditional hyperscalers. I think they have funded and backstopped and overallocated to the neo-clouds. They have created a dependence which is probably not healthy. So over time, the history of our industry is a massive reduction in the cost per unit compute. For hard problems, there is no upper bound to how much faster you want to be.

[SPEAKER_B] This is 20VC with me, Harry Stebbings, and I'm so excited to welcome a dear friend, Andrew Feldman, founder and CEO at Cerebras. Now this show just makes me incredibly happy and proud to do because this is a true testament of resilience, of grit, of building really hard things.

[SPEAKER_C] And last week Cerebras went public, the largest semiconductor IPO IPO ever. The price went from $185 to $311. They got over $5.5 billion. It was an incredible day for an incredible team.

[SPEAKER_B] Today we deep dive on the future of chips, the future of US-China relations, the future of data centers and energy. This was an incredibly wide-ranging conversation, and I just want to say a huge thank you to Andrew for being a great friend to me over the years and for being a fantastic advisor to 20VC.

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20VC: Cerebras CEO on the Future of Data Centres, Token Costs and Memory | We are Not in an Infra Bubble & Dario Got a Bad Deal with Elon for Compute | Should US Companies Sell to China & Why Most Layoffs are AI Washed with Andrew Feldman

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

20VC: Cerebras CEO on the Future of Data Centres, Token Costs and Memory | We are Not in an Infra Bubble &amp; Dario Got a Bad Deal with Elon for Compute | Should US Companies Sell to China &amp; Why Most Layoffs are AI Washed with Andrew Feldman

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

20VC: Cerebras CEO on the Future of Data Centres, Token Costs and Memory | We are Not in an Infra Bubble & Dario Got a Bad Deal with Elon for Compute | Should US Companies Sell to China & Why Most Layoffs are AI Washed with Andrew Feldman

Every day you wait, your competitors are finding
edge in conversations you're not hearing.