[butvacuum]

For your first point- You've just repeated "shared tenant." A scaling factor that's been used since before the turn of the milenium. Uptime is, as always, an irrelevancy for personal/homelab vs cloud. It shifts from uptime to pure financial (capex first, then how you account for "wasted" time).

2) The current memory crunch is more political than cyclical. The only reason we have fabs as far intro construction as we do is CHIPS Act. Which, predates LLMs public existance by more than 6mo. the horrific silicon prices are a direct result of openAI's openly Illegal dealings. Their pretense of needing it for stargate gets sundered further with each missed or cancelled deadline.

They predicted the political and regulatory outcome superbly.