What is fungible is what is constructed from tokens, which is to say intelligence. In other words, if both Kimi and Sol generated the right answer, then that answer is fungible; the difference in tokens generated to get to that right answer is a contributor to a difference in COGS.
Nvidia is changing its reporting to delineate between hyperscaler sales — where Nvidia is fighting commoditization — and everyone else, where Nvidia runs the whole stack.
Microsoft is seeking to commoditize its complements, but Anthropic has a point of integration of their own; it's good enough that Microsoft is making a new bundle on top of it.
4mo ago
Underscored — save the words that stop you in your tracks.
