mrcggl

I don't get how Lambda makes money with those prices. 2$ per hour seems too cheap for a >30k$ GPU

A large H100 cluster (>10k GPUs) could likely train a LLM with 10x compute (FP8) of GPT-4, which was apparently trained on a mix of A100s and V100s.

Still trading at 6% discount, on top of which you can lever up to 5x on-chain (so no counterparty risk). Seems excessive considering what we know.

USDC is not an investment, it's a tokenized market money fund which you can redeem for 1$. Circle, they company issuing it, said that they will honoring redempetions 1:1 from tomorrow (weekend they can't because of bank closures).

Also the trading volume of stablecoins and of the largest cryptocurrencies is close on most day to NASDAQ's listed equities trading volume.

Apparently the size of Tether seems huge, 34 B$ of dollar-denominate liabilities, but Binance, the largest exchange, has most fiat customer deposits in USDT. Moreover, in the last year futures trading has moved from Bitcoin margined to USDT margined and it is very profitable. So I wouldn’t be surprised if large funds are trading those future markets and they require USDT.

But offcourse it could still be insolvent if they issued too much or simply made insolvent if the assets (t-bills, cd) backing the issuances are frozen from US authorities. Just assume that as a known risk and plan accordingly