That was literally my question. Is this basically just for more datacenters, NVidia chips, and electricity with a sprinkling of engineers to run it all? If so, then that $500bn should NOT be invested in today's tech, but instead in making more powerful and power efficient chips, IMO.
if only $500bn was enough to make more powerful and power efficient chips…
He wanted to do that, but would have needed 5T for that. Only got 100 bn so far, so this is what you get (only slightly /s)
Nvidia and TSMC are already working on more powerful and efficient chips, but the physical limits to scaling mean lots more power is going to be used in each new generation of chips. They might improve by offering specific features such as FP4, but Moore's law is still dead.