Jim Chanos President & Founder, Chanos & Company L.P. Val Zlatev Chief Investment Officer, Analog Century Management Moderated by Jack Farley Host, Monetary Matters Podcast
The central question for 2026 is whether the AI investment cycle has reached its peak or if we are still in the early innings of a multi-year build-out…
In this January 2023 video (6minutes), Analog Century portfolio manager, Val Zlatev, suggests that the arrival of ChatGPT will be transformational for industry and the hard tech / semiconductor investment opportunity. This flashback to shortly after the "ChatGPT moment" highlights the ACM team's early understanding of the profound impact LLMs would have on datacenter demand and the subsequent winners and losers.
The CHIPS Act, passed by US Congress and signed by President Biden in August 2022, was an attempt to begin the long term process of moving away from dependence on Taiwan for leading edge semiconductors. The incentives were designed to level the financial playing field, establishing cost parity for US based foundries vs. global alternatives.