# 20VC: Nebius Co-Founder on AI Infrastructure Bubbles | The Real Impact of Open Source on OpenAI & Anthropic | How Price Elastic is Demand for Compute | Could Nebius Sell 10x More Compute If They Had It & more with Roman Chernin

Page: https://stenobird.com/podcast/twenty-minute-vc/20vc-nebius-co-founder-on-ai-infrastructure-bubbles-the-real-impact-of-open-source-on-openai-anthropic-how-price-elastic-is-demand-for-compute-could-nebius-sell-10x-more-compute-if-they-had-it-more-with-roman-chernin
Text version: https://stenobird.com/podcast/twenty-minute-vc/20vc-nebius-co-founder-on-ai-infrastructure-bubbles-the-real-impact-of-open-source-on-openai-anthropic-how-price-elastic-is-demand-for-compute-could-nebius-sell-10x-more-compute-if-they-had-it-more-with-roman-chernin.md
Podcast: [The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch](https://stenobird.com/podcast/twenty-minute-vc)
Published: 2026-06-08T07:07:00+00:00
Episode link: https://thetwentyminutevc.libsyn.com/20vc-nebius-co-founder-on-ai-infrastructure-bubbles-the-real-impact-of-open-source-on-openai-anthropic-how-price-elastic-is-demand-for-compute-could-nebius-sell-10x-more-compute-if-they-had-it-more-with-roman-chernin
Audio file: https://traffic.libsyn.com/secure/thetwentyminutevc/Roman_Chernin__Nebius.mp3?dest-id=240976
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Duration seconds: 4000

## Resource

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. AGENDA: 00:00 — Why AI Infrastructure Is Not a Bubble 05:00 — The Real Impact of Open Source on OpenAI & Anthropic 11:00 — Jevons Paradox: Why Cheaper AI Creates More Demand 13:00 — The Four Layers of AI Infrastructure Explained 19:00 — If Nebius Had 10x More Capacity Tomorrow 26:00 — The Shift from Training to Inference and Agents 31:00 — How Token Factory Cuts AI Costs by 70% 44:00 — Sovereign AI, Europe, and the Future of Model Building 49:00 — Competing Against Hyperscalers with 10x More Capital 59:00 — The Biggest Threat to Nebius Isn't Competition—It's Consolidation

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