{
  "generatedAt": "2026-10-22T04:12:33Z",
  "disclaimer": "Analysis and opinion, not investment advice.",
  "kind": "person",
  "slug": "semianalysis",
  "name": "SemiAnalysis",
  "role": null,
  "url": "https://deepstack.ltd/people/semianalysis/",
  "api": "https://deepstack.ltd/api/v1/entities/people/semianalysis.json",
  "summary": "SemiAnalysis is named in 4 Parts of The Buildout, most recently Part 16: The Seller Holds the Paper.",
  "parts": [
    {
      "part": 2,
      "headline": "SpaceX Is Funding an AI Bet Before the Proof",
      "url": "https://deepstack.ltd/stories/spacex-after-the-ipo-exit-liquidity/"
    },
    {
      "part": 5,
      "headline": "OpenAI and Anthropic Are Not the Same Business",
      "url": "https://deepstack.ltd/stories/anthropic-grew-142-percent-openai/"
    },
    {
      "part": 13,
      "headline": "The Ratepayer Pays First",
      "url": "https://deepstack.ltd/stories/the-ratepayer-pays-first/"
    },
    {
      "part": 16,
      "headline": "The Seller Holds the Paper",
      "url": "https://deepstack.ltd/stories/the-seller-holds-the-paper/"
    }
  ],
  "numbers": [],
  "mentions": [
    {
      "part": 2,
      "section": "The meter versus the map",
      "excerpt": "Jeremie Eliahou Ontiveros at SemiAnalysis did more than read the slide.",
      "url": "https://deepstack.ltd/stories/spacex-after-the-ipo-exit-liquidity/"
    },
    {
      "part": 2,
      "section": "The Call",
      "excerpt": "The single most important reason is the gap between 0.4 gigawatts deployed and roughly 10 gigawatts that SemiAnalysis believes can stand by the end of 2027.",
      "url": "https://deepstack.ltd/stories/spacex-after-the-ipo-exit-liquidity/"
    },
    {
      "part": 5,
      "section": "The margin test",
      "excerpt": "Jeremie Eliahou Ontiveros, working the unit economics for SemiAnalysis, calculates that a current-generation cluster can generate over $100bn of revenue per gigawatt-year against roughly $12bn of rental cost.",
      "url": "https://deepstack.ltd/stories/anthropic-grew-142-percent-openai/"
    },
    {
      "part": 13,
      "section": "The plant is late",
      "excerpt": "Reyk Knuhtsen of SemiAnalysis, on June 18, counted 311 gigawatts of the more than 410 gigawatts ERCOT was assessing in April as phantom data center demand, against an all-time Texas peak of about 85 gigawatts.",
      "url": "https://deepstack.ltd/stories/the-ratepayer-pays-first/"
    },
    {
      "part": 13,
      "section": "The plant is late",
      "excerpt": "Jeremie Eliahou Ontiveros, also of SemiAnalysis, wrote on June 25 that utilities are pushing promised load ramps out by years for lack of long-lead equipment, while buyers carry the risk through letters of credit, deposits and take-or-pay contracts and the utilities, in many cases, face no penalty for delivering late.",
      "url": "https://deepstack.ltd/stories/the-ratepayer-pays-first/"
    },
    {
      "part": 16,
      "section": "The loan is a bridge",
      "excerpt": "Daniel Nishball of SemiAnalysis cast Nvidia on July 6 as the central bank of AI: small buyers can pay for GPUs but cannot show a lender a credit rating.",
      "url": "https://deepstack.ltd/stories/the-seller-holds-the-paper/"
    }
  ],
  "sides": [],
  "coverage": null,
  "lastUpdated": "2026-10-22"
}