Palihapitiya asserts energy control will enable equity participation in AI companies, elevating suppliers from low-margin to high-leverage positions.
“What's a different example? Brad mentioned this before, but energy will be the gating item beyond a shadow of a doubt.”
Palihapitiya explains OpenAI's Korea deals secure forward HBM memory capacity that Altman can allocate for leverage and equity participation.
“He's buying forward capacity on HBM because now he can allocate that share. So when I saw that deal and I saw that equity, it reminded me of this Rothschild quote.”