The Information's TITV Nvidia’s $2B Nebius Deal, Oracle’s Q3 Comeback, OpenAI to Launch Sora in ChatGPT
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Mar 11, 2026 
Tomasz Tunguz, venture investor focused on SaaS and cloud infrastructure; Tyler Radke, Citi software equity analyst; Anne Guillen, e‑commerce reporter on ChatGPT apps; Dallas Dolan, PwC tech leader on AI-driven SaaS sales. They unpack Nvidia’s big Nebius bet and NeoCloud strategies. They dig into Oracle’s cloud rebound and margins. They explore ChatGPT apps, Sora video integration, commerce friction, and outcome-based AI selling.
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Software Layers Drive Chip Dominance
- Custom silicon and software layers (like CUDA and Triton) create deep lock-ins that favor incumbents even as alternative chips appear.
- Tunguz highlights that CUDA performance plus TSMC capacity sustain Nvidia's lead beyond raw chip specs.
Big Players Win With Purpose Built Chips
- Large-scale operators (Meta, Google) gain strategic leverage from ASICs tailored to their models, delivering multiplicative throughput and cost advantages.
- Tunguz gives examples like custom Llama chips and TPU generations yielding whole-number speedups.
Oracle Quarter Reduced Financing Risk
- Oracle's strong quarter eased investor worries about AI financing and data-center buildouts, driven by prepaid bookings and customers bringing their own hardware.
- Tyler Radke notes $29B of bookings included prepaid or customer-provided hardware, reducing Oracle's financing needs.