#1 Semiconductor Expert Gavin Baker: "China's Not Getting Taiwan's Fabs." | Invested

Video Description

On this episode of Invested, Michael sits down with Gavin Baker who is the Managing Partner and Chief Investment Officer of Atreides Management, LP. In addition to overseeing investments and research at Atreides, he is responsible for the firm’s day-to-day portfolio management. Prior to founding Atreides in 2019, Gavin was at Fidelity Investments from 1999 to 2017, most recently as the portfolio manager of the Fidelity OTC Portfolio from 2009 to 2017. He also helped spearhead Fidelity’s venture capital investing from 2013 to 2017. Prior to managing the Fidelity OTC Portfolio, he was a portfolio manager of the Fidelity Select Wireless Portfolio from 2007 to 2011, the Fidelity Select Telecommunications Portfolio from 2007 to 2009 and the Fidelity Select Pharmaceuticals Portfolio from 2002 to 2005. Gavin started his career at Fidelity as an analyst, and focused on semiconductors, pharmaceuticals, retail, consumer packaged goods and telecommunications. Gavin earned an AB in economics and history from Dartmouth College. Please rate this episode 5 stars wherever you stream your podcasts! KEY TOPICS 00:00 Intro 02:10 Foundation Models: From Fastest Appreciating to Depreciating Assets 05:46 The Trillion-Dollar AI Club: OpenAI, Anthropic & xAI 10:25 The “Free Agency” Talent War and Religious Belief in ASI 12:55 Weaponizing Capital and the $600 Billion GPU Question 16:30 The 30-Year “Overnight Success” of Nvidia 20:22 Cerebras, NextSilicon, and the Power of Picking Niches 23:49 TSMC, Intel, and the Semiconductor “Chocolate Cake” Problem 26:40 Why Taiwan Semi’s Lead May Be Stabilizing, Not Existential 30:48 ”Intel Made Two Crucial Errors” 32:42 When Washington Bought a Piece of Intel 37:00 Israel’s Role in the Allied Semiconductor Supply Chain 40:54 The New Semiconductor Cold War 47:11 Toward an “Allied Supply Chain” for Chips and AI 50:54 Why Gavin Says Global Warming is a Solved Problem 55:34 Mars, Neuralink, and the Next Human Frontier 01:00:19 Would You Always Bet on Elon Musk? 01:03:01 Mission-Driven Investing and Avoiding “Bad for the World” Bets 01:07:37 Why Tel Aviv Feels Like the Most Exciting City in the World 01:09:43 The Charlie Kirk Assassination and the Return of Political Violence 01:15:37 X Saved the Truth About October 7th 01:23:57 SpaceX, Starlink, and the Future of Human Ambition RESOURCES Follow Gavin on LinkedIn - https://www.linkedin.com/in/gavinbaker-portfoliomanager/ Follow Gavin on X - https://x.com/GavinSBaker Subscribe to Invested here: https://content.aleph.vc/invested Learn more about Aleph: aleph.vc Sign up for Aleph’s monthly email newsletter: https://newsletter.aleph.vc/ Subscribe to our YouTube channel: https://www.youtube.com/@aleph-vc/ Follow Michael on Twitter: twitter.com/mikeeisenberg Follow Michael on LinkedIn: https://www.linkedin.com/in/mieisenberg/ Follow Aleph on Twitter: https://twitter.com/mikeeisenberg ‍Follow Aleph on LinkedIn: https://www.linkedin.com/company/aleph-vc/ ‍Follow Aleph on Instagram: https://www.instagram.com/aleph.vc/ CREDITS Executive Producer: Erica Marom Producer: Myron Shneider Video and Editing: Ron Baranov Music and Creative Direction: Uri Ar Content and Editorial: Kira Goldring Design: Rony Karadi