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  1. Stanford Online34 min

    Stanford MS&E435 Economics of the AI Supercycle | Spring 2026 | Economics of Generative AI

    Apoorv Agrawal, Chloe Fang, Ali Ghotzi, Jensen, Mark Andreessen, Demis

    Aporv, leader of Altimeter's AI-focused investment firm, leads a nine-week course applying Chatham House rules to analyze the economic stack of the artificial intelligence sector. The curriculum dissects the current "triangle" market structure where semiconductor firms capture 75% of revenue growth while application layers struggle with thin margins due to significant inference costs. Participants develop mental models to navigate Series A investment opportunities and predict a potential decade-long shift in value distribution should hyperscalers successfully deploy specialized ASICs to alter the cost equilibrium.