Eliezer_Yudkowsky comments on Total Nano Domination - Less Wrong
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As I understand nanocomputers, it shouldn't really take all that much nanocomputer material to run more uploads than a bunch of bios - like, a cubic meter of nanocomputers total, and a megawatt of electricity, or something like that. The key point is that you have such-and-such amount of nanocomputers available - it's not a focus on material production per se.
Also, bear in mind that I already acknowledged that you could have a slow runup to uploading such that there's no hardware overhang when the very first uploads capable of doing their own research are developed - the one-day lead and the fifty-minute lead are two different scenarios above.