Token Bill Dwarfs CPU Bill | Ben Pouladian on Meta's Muse, Anthropic S1, and Why All Roads Still Lead to NVIDIA

Pouladian argues token costs, not CPU spend, drive AI data-center economics, and NVIDIA's fungibility keeps it the default winner over AMD and custom ASICs.

• Token costs dwarf CPU costs: Ben Pouladian says agentic AI's token bill runs 20-84x Meta's CPU serving cost, making cost-per-token-per-megawatt the key new commodity metric, like barrels of oil.
• NVIDIA's edge is fungibility: Pouladian calls NVIDIA GPUs the 'Rodeo Drive' of digital real estate—financeable and redeployable across tenants—unlike custom ASICs (TPU, Trainium, MTIA) which lack that liquidity.

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