Tech investment tycoon Gavin Baker: Amazon Trainium is the most underrated chip

Glonghui, May 19 — Gavin Baker, a senior semiconductor investor and founder and chief investment officer of Atreides Management, stated that Amazon's Trainium is currently the most undervalued chip. At present, mainstream cutting-edge AI models all adopt the Mixture of Experts (MoE) architecture. In order to run inference on such models, the underlying infrastructure of a Switched Scaleup Network is required. Globally, there are currently only two companies operating switched scaleup networks: one powering Nvidia GPUs, and the other for Amazon Trainium. He believes this is a technical barrier that is easily overlooked by the market. Google’s TPU does not have the same capabilities in this respect. As a result, he predicts that after Trainium 3 enters large-scale production in the second half of this year, Trainium’s position in 2026 will be equivalent to TPU’s in 2025. He emphasized that he will never short Google or Broadcom.