How Gavin Baker Invests in AI, and Where the Bubble is Going Next

How Gavin Baker Invests in AI, and Where the Bubble is Going Next

From Limitless: An AI Podcast by Limitless

May 28, 2026 · 29 min · Episode 180

About this episode

Gavin Baker discusses his investment strategy in AI, focusing on infrastructure and hardware rather than software.

In this episode, we discuss Gavin Baker’s view that AI is a super cycle, with the biggest opportunities in infrastructure, chips, memory, and power rather than software. It's interesting to pit him against Leopold Aschenbrenner, who has taken a higher octane approach to similar overarching theses. Gavin's portfolio includes Astera Labs, Cerebras, NVIDIA, Micron, and Unity Software. DYOR! ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 AI Infrastructure Thesis 1:47 Gavin’s Track Record 2:57 Bottlenecks in Chips 5:26 Unity and World Models 7:40 Inference 11:20 Four AI Constraints 17:35 Energy and Space Compute 19:08 This Isn’t Dot-Com 24:10 Supply Constraints 26:06 Conclusion ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

People in this episode

Host: Limitless

Guest: Gavin Baker

Topics covered

  • AI investment
  • infrastructure
  • chips
  • memory
  • power
  • super cycle
  • market analysis

Keywords

  • AI
  • investment
  • infrastructure
  • chips
  • super cycle
  • market trends
  • Gavin Baker

Mentioned in this episode

Organizations: Astera Labs, Cerebras, NVIDIA, Micron, Unity Software

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