01:27:31 · Rodrigo Liang, Ben Thompson, Jordi Hays, John Coogan
[01:27:31] S4: Yep. [01:27:31] S8: Regulators don't do anything and also rightly don't do anything because you're dealing with the future and it's unknown. You don't wanna screw it up. It raises the question of what you do regulators sort of do anyway. In broad broad strokes, I used to be I've sort of, you know, I think that they probably do more harm than good as far as a lot of these sort of blocking mergers and things go. But I don't know. I'm the one that just said maybe Microsoft should take Call of Duty exclusive. So so who knows? Maybe I'll Yeah. [01:28:03] S0: We had a funny moment because we were looking it's a $3,700,000,000 deal. But I'm like, how is this a $3,700,000,000 deal? Both these are $2,300,000,000 ish market cap companies. And it was because they pry the deal was, like, priced back in January 2025. And so both companies had declined so much. [01:28:22] S1: Combined market got under 1,000,000,000. [01:28:23] S0: Over the last eighteen months. [01:28:25] S1: So maybe they should do the deal anyway. Don't know. [01:28:27] S8: I mean, it could be worse. You could be Netflix and have the stock market and sort of like make a bid for Warner Brothers that the stock market hates abandoned the deal, but they already decided you did the deal because you're desperate. You're you're screwed anyway. So, yeah, they again, you don't even get what you bid for. So Yeah. Maybe that's what happened here. I don't know.
01:28:27 · Ben Thompson, John Coogan, Jordi Hays, Rodrigo Liang
[01:28:27] S8: I mean, it could be worse. You could be Netflix and have the stock market and sort of like make a bid for Warner Brothers that the stock market hates abandoned the deal, but they already decided you did the deal because you're desperate. You're you're screwed anyway. So, yeah, they again, you don't even get what you bid for. So Yeah. Maybe that's what happened here. I don't know. [01:28:43] S1: Oh, well. Well, thank you so much for taking the time to come chat with us. Have a have a great summer. Enjoy the break, and we'll see you soon. [01:28:52] S0: Yeah. Good luck with the lemonade stands. [01:28:54] S1: Yes. [01:28:57] S0: You're gonna [01:28:59] S1: run up on a kid that has Klarna. [01:29:00] S8: You'll raise some money. Yeah. I know exactly. Yeah. Klarna and a lemonade stand. [01:29:04] S1: Klarna and a lemonade stand. Five easy happens [01:29:06] S8: in Silicon Valley. Yeah. [01:29:07] S1: Interest free. It might. Well, thank you so much, have a great rest [01:29:10] S0: of week. [01:29:11] S1: We'll talk to you soon, bud. [01:29:12] S8: Talk to later. [01:29:12] S1: Have a good one. Me tell you about Shopify. Shopify is the commerce platform that grows with your business and lets you sell in seconds online, in store, on mobile, on social, on marketplaces, and now with AI agents. And our next guest is Rodrigo Leong from SambaNova. The cofounder and CEO is here with us on the TV Guide for Realm. Rodrigo, how are you doing? [01:29:33] S4: I'm doing good. How are you guys?
01:29:33 · Rodrigo Liang, John Coogan, Jordi Hays, Vincent Weisser
[01:29:33] S4: I'm doing good. How are you guys? [01:29:35] S1: We're doing fantastically, but it sounds like you're doing better. Give us the news. What happened? [01:29:39] S4: You know, we're super excited. We did a big big funding announcement today with a billion dollar round that we did a first close on at at an 11,000,000,000 valuation. So super excited about announcing that. [01:29:53] S1: Incredible. There we go. There [01:29:58] S4: we go. There we go. [01:30:00] S0: This reminded me there was somebody posted, like, a couple weeks ago something to the effect of, like, every day there's a new billion dollar deal in chips from some company you've never heard of. Market. I guess the trend the trend continues. Yeah. Talk about [01:30:16] S1: it. Yeah. Yeah. Is this an overnight success? When did you start the company? How long has this been overdue? [01:30:22] S3: It's an
01:30:22 · Vincent Weisser, Rodrigo Liang
[01:30:22] S3: It's an [01:30:23] S4: overnight nine year success. Know, I've been I've building chips for thirty years, the high performance product, and we started this company in 2017. So no, but it's been a great journey. It's just, again, so noisy. So there's so many companies out there doing all sorts of awesome things, but look, Inference is now right in front of us. It's kind of broken everything open. It's what we do, and it's been what we've done for a long time. The new training run, and so people that are kind of been thinking about building just for training, well, now it's the time for inference. This is where we shine, and we shine, and investors are putting all their money behind that, and so we're excited about that.
01:31:05 · John Coogan
[01:31:05] S1: How how walk me through the the phases of I mean, you have some of the biggest companies in the world you're working with. JPMorgan Chase selected you for secure on prem AI inference. And I'm interested in the thought process that large Fortune 500 companies, Fortune 100 companies are going through right now. I imagine that there's a lot of explore with frontier models, very expensive. They're token maxing. Then they shift to, okay, this agentic workflow is working. Let's use an open source model for it that is, you know, either the open source frontier is caught up and can do this particular task. Maybe there's a fine tune or some RL on some private data that makes the the the system perform better. When is the conversation shifting to actually actually optimizing the inference stack, the hardware? What are what what is what's the conversation like there? What are the savings that people are focused on?
01:32:05 · Rodrigo Liang
[01:32:05] S4: Well, I think what people are starting to realize after they started using ChatGPP and Yeah. Drop the the frontier models is, there's a bunch of things I can do there, and it's great. You know, we'll use it, and it's going to be part of their business for a long, long time. Mhmm. Right? And hyperscale is offering all sorts of different services with different GPUs and GPUs and training chips. They're offering different things there, again, on the cloud. What's happening now is this next phase of production is people starting to realize, okay, what happens to the stuff that I'm not comfortable releasing to these models? Like my private data, my security, the stuff that I want your models to learn and then somehow become part of the global knowledge, right? And so what happens with that? Right? And so I don't know if I have, you know, you know, my clients' banking information, you know, I have, you know, some some very regulated information. What do I do with that? Right? And so people are starting to realize, okay, there is a whole another class of workloads. Whole another class of applications that you've got to go and do private. With someone like JPMorgan, which is fantastic, they are the top of the top when it comes to enterprise and IT and technology, fantastic partners. They selected us as the ones that can come in and go into an environment like JPMorgan, do full on prem secure private. They can bring their open source models. They can fine tune into it. They can deploy that privately security and control the models and control it forever. So I think we're starting to see the landscape starting to steady, right? There's some things you use the Anthropix for, there's some things that you're going to use the hyperscale clouds for, and there's some things you're going to say, Hey, let me run on prem and let me control the outcome. Especially since I don't know how the regulatory environment is going to settle, let me just be secure for that. Let me just be safe and just run those things on my own models in my own environment with my own security around it and then be done.