# Episode 154: Live with GSA, the State of Semis, Key Inflection Points Coming

- Show: [The Circuit](https://hardwarepodcasts.com/podcast/the-circuit)
- Published: 2026-02-23
- Length: 58m
- Episode: 156
- Page: https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming
- Listen: https://share.transistor.fm/s/b7305943

## Summary

Ben Bajarin, CEO of Creator Strategies, and Jay Goldberg, equity analyst at Seaport, host Paul Karazuba, CEO of Expedera and member of the Global Semiconductor Alliance (GSA), to discuss the current state of the semiconductor industry. They analyze how tariffs and unprecedented memory/storage shortages are driving up Average Selling Prices (ASP) and constraining consumer electronics margins, while AI-driven demand creates bottlenecks in copper, fiber, and power infrastructure. The conversation highlights key inflection points, including the shift from copper to fiber optics, the move to 800V DC power systems, and the consolidation of AI accelerator startups through M&A as regulatory environments shift.

## Chapters

- [0:06](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=6) Introduction: Ben Bajarin, Jay Goldberg, and Paul Karazuba of GSA
- [3:23](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=203) Tariffs and Memory Shortages Impacting Consumer Tech Margins
- [12:17](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=737) Industry-Wide Constraints: Copper, Fiber, and Substrate Shortages
- [16:37](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=997) AI Software vs. Compute Speed: The 'Good Enough' Inflection Point
- [20:26](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=1226) Data Center Architecture: Scale Up/Out and 800V DC Power Shifts
- [29:41](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=1781) The Shift from Copper to Fiber and Silicon Photonics
- [40:08](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=2408) AI Compute Demand Drivers: Inference, Memory, and Workloads
- [48:40](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=2920) Geopolitics: The Two-Lane Supply Chain and China Decoupling
- [52:56](https://hardwarepodcasts.com/podcast/the-circuit/2026-02-23-episode-154-live-with-gsa-the-state-of-semis-key-inflection-points-coming#t=3176) M&A Trends: Regulatory Windows and AI Startup Consolidation

## Topics

- [Policy, trade & tariffs](https://hardwarepodcasts.com/topic/policy-trade-and-tariffs)
- [Scaling production](https://hardwarepodcasts.com/topic/scaling-production)
- [Wireless & RF](https://hardwarepodcasts.com/topic/wireless-and-rf)
- [Energy & climate tech](https://hardwarepodcasts.com/topic/energy-and-climate-tech)
- [Growth, exits & acquisitions](https://hardwarepodcasts.com/topic/growth-exits-and-acquisitions)
- [Validation & product-market fit](https://hardwarepodcasts.com/topic/validation-and-product-market-fit)

## Most relevant to

large enterprises

## Mentioned

- Creator Strategies (company)
- Expedera (company)
- Global Semiconductor Alliance (company)
- Seaport (company)
- Nvidia (company)
- Broadcom (company)
- Google (company)
- Microsoft (company)
- Amazon (company)
- Arm (company)
- Renesas (company)
- Accenture (company)
- Century Capital (company)
- Deutsche Bank (company)
- Applied Materials (company)
- Eaton (company)
- Veritative (company)
- InfiniBand (other)
- Ethernet (other)
- Credo (company)
- Celestial AI (company)
- IR Labs (company)
- Momentum (company)
- Coherent (company)
- OpenAI (company)
- Anthropic (company)
- Meta (company)
- Huawei (company)
- OPPO (company)
- Vivo (company)

## Related episodes from other shows

- [EMS & The Economist: How AI Data Centers Are Reshaping Memory Prices And Supply with Shawn DuBravac](https://hardwarepodcasts.com/podcast/ems-c-level/2026-04-27-ems-the-economist-how-ai-data-centers-are-reshaping-memory-prices-and-supply-wit) (EMS@C-LEVEL)
- [IMEC & the End of the Road(map) | EDS and the Trade War | Restoring Notre Dame](https://hardwarepodcasts.com/podcast/ee-times-current/2019-05-17-imec-the-end-of-the-road-map-eds-and-the-trade-war-restoring-notre-dame) (EE Times Current)
- [For a couple weeks there...](https://hardwarepodcasts.com/podcast/the-amp-hour/2023-11-28-for-a-couple-weeks-there) (The Amp Hour)
- [Navigating the Semiconductor Space for IoT | Rand Technology's Jennifer Strawn | Internet of Things Podcast](https://hardwarepodcasts.com/podcast/iot-for-all-podcast/2023-11-07-navigating-the-semiconductor-space-for-iot-rand-technologys-jennifer-strawn-inte) (IoT For All Podcast)
- [Live from the Global CEO Summit](https://hardwarepodcasts.com/podcast/ee-times-current/2019-11-15-live-from-the-global-ceo-summit) (EE Times Current)

## Citing this page

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