Steve Hou

Silicon Data's Steve Hou: Compute Futures, GPU Rentals & AI Capex

Steve Hou, head of research at Silicon Data, explains the startup's compute futures and GPU rental indices, framing AI compute as an emerging asset class with $750B–$1T of annual capex and a coming shift from the training era to a much larger inference era. He discusses hyperscalers like Meta and Google weighing whether to rent out or sell compute capacity, rising rental income lifting estimated fair values of A100, H100, and B200 chips, and the market's ROI question. The conversation closes with DeepMind tensions at Google, China accelerating its own AI capex and funding, and sovereign AI for mid-sized countries.

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