Uploaded June 2026 | Updated September 2026, 2 weeks ago

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Roman Chernin is Co-Founder and Chief Business Officer of Nebius, one of the fastest-growing AI infrastructure companies in the world. Today, Nebius operates some of the largest AI compute clusters globally and serves leading AI labs, enterprises, and developers. Today, Nebius has a market cap of $57BN.

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Timestamps:

00:00 Intro
01:24 Why AI Infrastructure Is Not a Bubble
04:11 The Real Impact of Open Source on OpenAI & Anthropic
11:03 Jevons Paradox: Why Cheaper AI Creates More Demand
13:06 The Four Layers of AI Infrastructure Explained
18:49 If Nebius Had 10x More Capacity Tomorrow
28:51 The Shift from Training to Inference and Agents
37:18 How Token Factory Cuts AI Costs by 70%
50:34 Sovereign AI, Europe, and the Future of Model Building
53:52 Competing Against Hyperscalers with 10x More Capital
01:08:46 The Biggest Threat to Nebius Isn't Competition

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