Max Kan

Max Kan is a SemiAnalysis SemiAnalysisSemiAnalysis is a semiconductor and AI research firm founded by Dylan Patel in 2020. It produces reporting, institutional data models, consulting and hardware testing, covering chip manufacturing, memory, datacenters, inference costs and AI economics.Open the full entry analyst and co-lead of its Tokenomics team. He studies AI token demand and inference economics, holds a computer-science degree from Williams College, previously worked in Strategy and Product at Jane Street and co-founded reinforcement-learning environment startup Habitat.

Contents9 sections

Key facts

2020–2024Williams College

Kan studied at Williams College from 2020 to 2024 and earned a bachelor’s degree in computer science. His public professional profile also lists him as valedictorian.⁠[1][2]

2022–2024internships and Jane Street

His public résumé lists a Google software-engineering internship in summer 2022 and a Jane Street Strategy and Product internship in summer 2023. He held a Strategy and Product role at Jane Street from September 2024 to May 2025.⁠[3]

2025–2026co-founding Habitat

Kan co-founded Habitat, a startup developing reinforcement-learning environments. His public résumé dates his co-founder tenure from May 2025 to January 2026; that personal employment record does not establish the company’s subsequent status.⁠[1][3]

April 2026joining SemiAnalysis

Kan’s public résumé dates his start as a SemiAnalysis analyst to April 2026. The firm’s biography identifies him as co-lead of Tokenomics, which studies relationships among compute capacity, token supply and AI business revenue.⁠[3][1][4]

October 5, 2026subscription-economics report

Kan co-authored an AI subscription study with Andrew Megalaa Andrew MegalaaAndrew Megalaa is an author contributing to SemiAnalysis research on AI subscription costs. He co-authored its October 2026 subscription-value report with Max Kan and Dylan Patel and discussed the testing on SemiAnalysis Weekly.Open the full entry and Dylan Patel Dylan PatelDylan Patel is the founder and CEO of SemiAnalysis, researching semiconductor supply chains, datacenters and AI economics. He started the business in 2020 and expanded individual industry writing into data models, consulting and technical testing, while discussing inference costs and hardware–software co-design.Open the full entry, comparing allowances across plans, models and token types.⁠[5]

October 7, 2026SemiAnalysis Weekly appearance

Kan appeared with Andrew Megalaa and Jordan Nanos in episode 36 of SemiAnalysis Weekly, covering subscription testing, caching, usage limits and token efficiency on the firm’s own channel.⁠[6]

Topics: public discussions of inference architecture

A WEKA event lists Kan as SemiAnalysis’s Tokenomics technical lead alongside WEKA chief AI officer Val Bercovici and Oracle architect Manu Mishra. Its topic is CPU, GPU and KV-cache behavior in agentic inference. The vendor-event description does not establish a universal architecture conclusion.⁠[7]

Public profile and accounts

Firm biography: https://semianalysis.com/max-kan/ (opens in a new window). X: https://x.com/maxkan (opens in a new window). LinkedIn LinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: https://www.linkedin.com/in/maxkan/ (opens in a new window).⁠[1][8][3]