Anjney Midha, founder of AMP PBC and former General Partner at Andreessen Horowitz, opens Stanford's CS153 Frontier Systems course by framing the class as a speaker-led tour of the modern AI industry. He outlines the full AI stack, from capital and data centers through chips, cloud infrastructure, models, applications, and governance, and argues that context and verifiable feedback loops determine where progress accelerates and where value accrues, citing IDE access conflicts and sovereign AI needs as examples. The lecture then turns to compute infrastructure in detail: how capabilities and revenue track compute buildouts, why GPU prices climb, how today's infrastructure cycle echoes past commodity booms, and why compute remains non-fungible absent shared standards and institutions. Midha also discusses his background in venture investing and board work with companies like Mistral and Anthropic, using it to motivate the course's emphasis on real-world systems thinking.