1. Executive Summary
- Inference War Thesis
- Market Mispricing Analysis
- Key Investment Takeaways
2. Inference War Overview
- Definition of the Inference War
- Market Size & Growth Projections ($480B by 2028)
- Training vs Inference Economics
3. Key Market Questions (Outcome Drivers)
3.1 Groq LPX Scaling Timeline
- Bear Case
- Base Case
- Bull Case
- Key Indicators & Timeline
3.2 AMD ROCm vs PyTorch Parity
- Bear Case
- Base Case
- Bull Case
- Benchmark Indicators
3.3 Google TPU v7 (Ironwood) Strategy
- Internal vs External Deployment
- Market Impact Scenarios
- Key Monitoring Signals
4. Oplexa Final Verdict
- Why the Inference War is Overstated
- Margin Compression Reality
- NVIDIA Revenue Impact Analysis
- Market Share Shift (88% → ~68%)
5. NVIDIA Strategic Positioning
- Training Market Monopoly (CUDA, CoWoS, HBM)
- Inference Revenue Dynamics
- Software Layer (NeMo, NIM Microservices)
- Networking Layer (Spectrum-X, CPO)
- Groq Acquisition Impact
6. Competitive Landscape Analysis
6.1 NVIDIA vs Groq
- GPU vs LPU Positioning
- Complementary vs Competitive Dynamics
6.2 AMD Positioning
- ROCm Limitations
- Market Perception vs Reality
6.3 Google TPU Ecosystem
- Internal Advantage
- External Threat Potential
7. Structural Winner Analysis
7.1 Broadcom (AVGO) Thesis
- Custom ASIC Design Dominance
- SerDes Monopoly
- CPO Transition Advantage
7.2 Cross-Scenario Outcome Analysis
- Why AVGO Wins in All Cases
8. Investment Strategy
- Long Thesis: NVIDIA (NVDA)
- Long Thesis: Broadcom (AVGO)
- Short Thesis: AMD
- Risk Factors & Contrarian Views
9. Technical Appendix
9.1 Architecture Deep Dive: GPU vs LPU
- Memory Architecture (HBM vs SRAM)
- Compute Dispatch (SIMT vs Dataflow)
- Latency & Throughput Comparison
- Programming Model (CUDA vs GroqAPI)
- Workload Suitability Analysis
9.2 Broadcom 224G SerDes Analysis
- MediaTek Failure Case Study
- Signal Integrity Challenges
- Thermal Constraints in AI Data Centers
- Broadcom DSP Advantage
- Industry Implications
10. Methodology
- Data Sources & Assumptions
- Scenario Modeling Framework
- Forecasting Approach
11. About Oplexa Research
- Research Series Overview
- AI Infrastructure Intelligence Reports
- Copyright & Disclaimers
