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Yes, but have you seen what's happened to hardware improvements over the past 20 years?

From the 1960s to the mid-2000s, every 10 years you'd have a big enough improvement in computing power that you could basically throw out the old computers and replace them with two new ones that were each massive improvements for the same cost (this varied, of course, from hyperbole to massive understatement). We achieved this by shrinking transistors, so we could fit more onto the die. With that, we could dramatically increase clock speeds and the amount of RAM we could cram into a machine

But then we hit the wall of physics. Things haven't stopped improving since ~2015, but they've slowed down so, so much. We've made transistors so small that there's very little more improvement we can get by continuing down that path—they're already seeing serious quantum tunneling effects that need to be adjusted for.

We can no longer assume that we can just powerscale our way out of any computation-cost problem. And breakthroughs, by their very nature, cannot be relied upon—we have no guarantee that there's even a possible way to improve our silicon to scale the way we did before, let alone that it'll be something achievable this decade, or that it'll be cost-effective.

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The bottleneck right now isn't making hardware more powerful, it's manufacturing it fast enough. Hardware right now is expensive because of scarcity, and those with a monopoly on it have no incentive to change that.

The Chinese would love to produce AI hardware much cheaper, but are blocked from doing so because US sanctions stop a Dutch company from selling them the machines capable of doing so. Coincidentally the companies with a monopoly happen to be in the US.

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To be fair, the Dutch company is built on technology that was developed by the US Government, hence why there are restrictions.

[1]https://www.eetimes.com/u-s-gives-ok-to-asml-on-euv-effort/

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Moore's law isn't as relevant with parallel workloads. If you can keep building more lanes you don't have to worry about making faster cars.
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Sure, but it doesn't lower the cost or increase the efficiency of the system
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Yes,

You have to start some where. Im guessing, making progress also brings in new ideas how to move further.

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