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"so, what is your TAM in 10 years?"
Entirety.
We are entering into a post-Mythos world.
The TAM of @USDai_Official is replacing the Theory of the Firm. It is the labor market in its entirety, because over time the credit system built around human productivity will be replaced by one built around machine based production. It is the entirety of corporate credit in of itself.
Today, credit is organized around firms, sectors, and balance sheets. Over time, AI compresses value creation into the underlying productive infrastructure itself: compute, power, networking, and the physical systems that let intelligence run. As that happens, debt migrates away from broad corporate abstraction and toward asset specific, cash flow specific financing. Private credit, in the unsecured corporate sense, will disappear in its entirety.
GPU backed and AI infrastructure backed credit does not just become a large new asset class. It becomes the enttire reference layer for financing the productive economy built around machine intelligence.
So.. "TAM" is not some niche of "AI HPC or GPU lending." We define it as the gradual but inevitable replacement of the concept of legacy corporate credit with infrastructure native debt tied to the machines, energy systems, and supply chains that actually produce economic output.
In that world, the relevant benchmark rate is no longer just a corporate spread. It is the cost of financing intelligence itself.
In short: Our TAM is the entire labor market and the full credit system built around it, because as AI replaces human productive output, legacy corporate credit will be replaced by infrastructure native debt tied to the machines that generate economic value.
Cassandra Unchained@michaeljburry
Probably worth following Claude if you are an investor in these markets.
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