Dylan Patel: Tech companies prioritize long-term capex for future infrastructure, Anthropic's scaling challenges contrast with OpenAI's aggressive strategy, and GPU depreciation cycles may exceed five years | Dwarkesh

GPU depreciation assumptions are crucial for tech investment and financial planning.

Dylan Patel is the Founder and CEO of SemiAnalysis, a leading semiconductor and AI research and consulting firm with offices across the US, Japan, Taiwan, and Singapore. He began consulting on semiconductor architecture in 2017 before going full-time in 2020, and subsequently launched SemiAnalysis's Substack newsletter, which has grown to approximately 50,000 subscribers and become the second-largest tech newsletter in the world. His deep expertise in the semiconductor supply chain, from chip design to fab operations to AI infrastructure economics, has made him one of the most cited analysts advising hyperscalers, AI labs, and semiconductor manufacturers on industry bottlenecks and strategy.