20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder
The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
The Twenty Minute VC
4.4 • 693 Ratings
🗓️ 29 September 2025
⏱️ 81 minutes
🧾️ Download transcript
Summary
Jonathan Ross is the Founder & CEO of Groq, the AI chip company redefining inference at scale. Under his leadership, Groq has raised over $3B from top investors. The company has reached a valuation of nearly $7B, positioning itself as one of NVIDIA's most formidable challengers. Previously at Google, Jonathan led the team that built the first Tensor Processing Unit (TPU), making him one of the leading architects of modern AI hardware.
AGENDA:
00:00 The Future of AI and Compute
05:07 Why the Hyperscalers Have to Keep Spending Recklessly on AI
12:49 Why OpenAI and Anthropic Will Have to Build Their Own Chips
19:47 OpenAI and Anthropic Will be $5BN Companies: The Bull Case
29:50 Why China is Behind the US in AI and Deepseek is More Expensive to Run
33:55 How Europe Could Compete in AI and Why the US is More Risk Averse Than Europe
42:51 Why AI Will Lead to Too Many Not Too Few Jobs
43:19 Deflationary Pressures and New Job Markets
45:51 The Future of Vibe Coding
47:14 Why AI Companies Should Strive to Have Low Margins
49:31 Why We Have to Have Nuclear Energy and How to Bring it Back
56:55 How Permits are Ruining the Potential of AI
01:03:58 Why OpenAI and Anthropic are so Undervalued
01:16:53 Quickfire: Biggest Fear, Nvidia: $10TRN, Zuck Buying AI: Work or Not
Transcript
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| 0:00.0 | The countries that control compute will control AI. |
| 0:03.8 | And you cannot have compute without energy. |
| 0:06.0 | And now we're going to be able to add more labor to the economy |
| 0:08.7 | by producing more compute and better AI. |
| 0:10.8 | That has never happened in the history of the economy before. |
| 0:13.2 | What is that going to do? |
| 0:14.6 | I personally would be surprised if in five years |
| 0:17.3 | in video wasn't worth 10 trillion. |
| 0:19.1 | The demand for compute is insatiable. If OpenAI were given |
| 0:22.9 | twice the inference compute that they have today, if Anthropic was given twice the inference |
| 0:27.7 | compute that they have today, within one month from now, their revenue would almost double. |
| 0:32.2 | This is 20VC with me, Harry Stebbings, and this guest holds the record for the most downloads |
| 0:36.8 | in last year's |
| 0:37.8 | catalogue of episodes. So I'm thrilled to welcome Jonathan Ross, founder and CEO at GROC, back to the |
| 0:43.0 | hot seat. Now, GROC is the AI chip company redefining inference at scale. Under his leadership, |
| 0:48.9 | GROC has raised over $3 billion, with the latest pricing the company at close to $7 billion. |
| 0:54.8 | And before GROC, Jonathan led the team that built out the TPU at Google, making him one of the |
| 0:59.8 | leading architects of modern AI hardware. |
| 1:02.3 | Now, this conversation has it all, with everything from OpenAI, Anthropic, Oracle, |
| 1:07.3 | to what happens to Nvidia in the next 10 years, to how should we think about China. |
| 1:11.8 | This was an incredible and very wide-ranging discussion. |
| 1:15.1 | But before we dive into the show stay, I love seeing the team come together to make this show happen. |
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