“We've sold possibly $200, $300 billion worth of GPUs that have gone nowhere and they're planning to buy more. This alone is a story. And they look at you like you're reading algebra to a dog.”
Better Offline · Tech Strategy & Big Tech · October 2026
Zitron and his guest had been speculating about where the GPUs bought for AI data centers physically are, given how much capacity is not yet powered. "They" are fellow tech journalists, who he says shrug when he raises it. The dollar figure is his own estimate.
Transcript
Yeah, are they in a data center but without power? That wouldn't make sense, though, because if the data center didn't have power, that would actually be dangerous for them.
Yeah, and he also did say warm shells, which to me, in your situation there, I think the only way that happens... while his warm shell statement is true, is if it's a data center that doesn't have power yet. And I just don't see that happening, you know, like, cause then you're probably, you're not even permitted. Right.
So it's just, and again, you go to the various journalists about this and you try and make them talk about it and they go, ah, you know, it really is. This is actually what jokifies me. It's when you try and talk to your peers and they're like, ah, yeah, you know, it's bad, I guess, but who's to say. And it's just like, okay, but we've sold possibly 200, $ 300 billion worth of GPUs that have gone nowhere and they're planning to buy more. This alone is a story. And they look at you like you're reading algebra to a dog. Yeah.
I mean, it's like, I feel like a product physically exists probably.
I hope so. Legally speaking. Like if it doesn't, and this is just literally balance sheet transfers, that's so bad. Right.
I mean, that's how I feel too. It's like, I think there's a certain level of awareness and I don't, everybody is, people aren't stupid, I think. And it seems unlikely that it would be a pure balance sheet type of.
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