The 3P's of AI chips refer to "Power, Performance, and Area." These are critical factors that designers optimize around when creating chips. Additionally, there is a fourth P, which stands for "Pain in the Ass to Program," highlighting the importance of ease of programming in the design process.

1. Power, Performance, and Area (PPA):
- "So, chips have like, and I'm gonna steal this from someone here in the crowd, but chips have like five, when you're designing a chip, it's called PPA, right? Power, performance, and area." 01:42:35 to 01:42:45.

2. Pain in the Ass to Program (P-P-A-P):
- "And the one thing people don't realize is there's a third P, that's like P-P-A-P. And the last P is pain in the ass to program." 01:42:49 to 01:42:57.

These four factors are essential considerations in AI chip design to balance efficiency, performance, and ease of use.