The Gug Letter

The Gug Letter

Is Compute the New Oil?

The geopolitics of chips, the physics of power grids, and who really controls the AI revolution..

Joe Guglielmucci's avatar
Joe Guglielmucci
Jan 08, 2026
∙ Paid

A decade ago, GPUs were niche hardware for gamers and 3D artists—the kind of thing most people never thought about. Then crypto miners discovered they could use the same chips to print money. Then AI researchers discovered they could use them to train neural networks.

The silicon that powers ChatGPT is the same silicon that runs Call of Duty. That's not…

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