NVIDIA Installed GPU Computing Power = 100x+ Growth Over ~Six Years 107 Note: Analysis does not include TPUs or other specialized AI accelerators, for which less data is available. TPUs may provide comparable total computing power to NVIDIA chips. Source: Epoch AI (2/25) Simultaneous expansion of GPU / computing-related CapEx alongside rising performance-per-GPU = Exponentially-greater computing capacity Total Installed Computing Power, FLOP/s +130% / Year Tech CapEx Spend Partial Instigator = Material Improvements in GPU Performance Global Stock of NVIDIA GPU Computing Power (FLOP/s) – Q1:19-Q4:24, per Epoch AI