Tech
Jon Keegan

Holding all the chips: Meta has nearly 600,000 Nvidia H100 GPUs

At the SIGGRAPH conference in Denver yesterday, Nvidia CEO Jensen Huang interviewed Meta CEO Mark Zuckerberg. The hour-long, wide-ranging conversation touched on Huang’s love of black leather jackets, Meta’s new Llama 3.1 large language model, and eating Zuckerberg’s “delicious” cows from his Hawaiian ranch.

Towards the end of the interview, Huang revealed an eye-popping stat that hasn’t been made public before. 

Huang and Zuckerberg were discussing how Nvidia bucked the norm of moving computing to smaller and smaller devices, and instead focused on building out massive computing systems powered by their specialized GPUs like the ones that Meta has invested heavily in. 

Huang said, “When Zuck calls it his ‘data center of H100s’ there's like, I think you're coming up on 600,000.”

Zuckerberg smiled and nodded in response. “We're good customers. That's how you get the Jensen Q&A at SIGGRAPH.”

The H100 GPUs are a hot item in the AI industry, and companies are hoarding them to train larger and larger AI models. The price for each GPU is estimated between $20,000 and $40,000 meaning Meta’s investment in Nvidia chips may be north of $12 billion. 

600,000
META’S H100 GPU HOARD
$20,000 to $40,000
Estimated COST OF EACH GPU
MORE THAN $12 BILLION Worth of Chips

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Apple Store in China

Apple reports Q4 earnings and revenue slightly above Wall Street estimates

The iPhone maker reported its FY 25 fourth-quarter earnings Thursday.

#10

Tesla just recalled its beleaguered Cybertruck for the 10th time since the vehicle was introduced two years ago. This time the company recalled about 6,000 of the “apocalypse-proof” vehicles due to what the National Highway Traffic Safety Administration says is an improperly installed “optional off-road light bar accessory” that could become disconnected from the windshield while driving, and could “create a road hazard for following motorists and increase their risk of a collision.”

CEO Elon Musk once said he could sell up to 500,000 of the stainless steel behemoths a year. In the first three quarters of this year, the company has sold only about 16,000.

tech

Analysts lower Meta price targets after social media giant says AI capex will keep climbing

Meta may have posted record revenue Wednesday but the stock is deeply in the red in the wake of its third-quarter earnings report, after the social media company said that its capital expenditure on AI would continue to rise.

The earnings prompted a number of analysts to lower their price targets or downgrade the stock.

RBC Capital lowered its price target to $810 from $840. Bank of America Securities lowered its price target to $810 from $900. Barclays, JPMorgan, Deutsche Bank, and Wells Fargo also lowered their price targets on the company.

Earlier today, Benchmark downgraded its rating to a “hold” from a “buy.” Oppenheimer downgraded the company to “perform” from “outperform,” saying the “significant investment in Superintelligence despite unknown revenue opportunity mirrors 2021/2022 Metaverse spending.” Ouch.

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