OPENAI · OpenAI

...$419M. A 388,000 square foot facility in Pearland was purchased after quarter end for $58.4M. Two new Texas leases added another 360,000 square feet. The capital went into cleanrooms and machinery. Moreover, B. Riley warned that Amazon’s RNG and OpenAI’s MRC network flattening protocols could cut optical transceiver demand by 40 to 50% per cluster. We think the per cluster math is true, but the whole data center blended reduction sits closer to 25-35% when you account for connections inside t

...grew from $3 billion to $27 billion, and a $2 billion equity check from NVIDIA. The market repriced the company in months. Shares ran from the low $40s to a high near $300, Nebius joined the Nasdaq-100 in June 2026, and a hedge fund run by former OpenAI researcher Leopold Aschenbrenner disclosed a 5.6% stake worth about $2.6 billion, its single largest position . The leftover asset became one of the most fought-over names in AI infrastructure. SECTION 2 · FUNDAMENTALS How does it make money a

...is basically the same whether the user is logged in or not, logged-in users just spend more time and see more of them. As we covered in our last post, Huffman said Reddit is the most cited source across all AI platforms and called the Google and OpenAI deals important beyond just revenue. He put it simply on the call: “there is no artificial intelligence without actual intelligence, and that comes from Reddit”. What the Stock Has to Prove Read more As the air gets sucked out the AI trade, our

..., the re-rating happens before the IPO, on the day the S-1 becomes public. CNBC report , PYMNTS report The AI Arms Race Anthropic vs OpenAI vs Google As you know, three companies are racing for frontier AI dominance. OpenAI is the consumer king, ChatGPT has over 900 million weekly active users and processes more than 2.5 billion prompts per day. It’s the brand name that made AI a household conversation. But the consumer numbers hide a structural problem. More than 90% of ChatGPT users pay not

...otional capabilities and redirect their choices for future emotional support, increasing preference for AI and decreasing preference for humans. We review recent evidence, including a large-scale longitudinal study conducted in collaboration with OpenAI, showing that daily five-minute conversations with an AI about personal issues over 28 days led to a 10.3% decrease in the preference for seeking support from humans and an 11.6% increase in the preference for AI. These findings suggest that c

...led CPU cores per gigawatt of data-center capacity rising 4x. The Industry Is Already Repricing It The research is one thing. What the buyers and sellers are actually doing is another. The signed deal that started it. On November 3, 2025, AWS and OpenAI announced a $38 billion, seven-year compute partnership. Most coverage focused on the GPU number. The more important line was buried halfway down the press release: OpenAI gets “hundreds of thousands of state-of-the-art NVIDIA GPUs, with the a

The Only U.S. Pure-Play In An Asian AI Monopoly NVIDIA, GOOG, AMZN, META, MSFT and OpenAI all buy their boards, and the stock trades below its Asian peers. Since we started this Substack we’ve been spotting bottlenecks in the AI supply chain before market priced them in. Optical networking with or even testing equipment with and . PCB...

The Second Singularity | A General Theory on Humanoid Robotics (Free) Robotics is AI in 2022 and is barreling towards its own ChatGPT moment, Claude Code moment, and RSI. There’s a beautiful, obvious, and elegant way of thinking about the upcoming robotics revolution that I haven’t seen communicated anywhere yet. Robotics = AI. Just 4 years earlier in development and physical...

...Triton) that NVIDIA and others rely on for this job. It did the same job from scratch and it matched Triton’s performance on certain benchmarks. K3 also designed a chip layout for a small version of its own architecture in 48 hours. Anthropic and OpenAI don’t have a disclosed capacity like this, and it puts self-optimization question at the center of everything below. Why Markets Are Scared Whole AI trade, covering the semiconductor boom, the neocloud rerating, and the power and datacenter in

...why OpenAI recently narrowed its focus, why demand for intelligence may be effectively uncapped, how close we may be to AGI, and what the future could hold for robotics, jobs, hardware, and human agency. We also discuss the accidental launch of ChatGPT, OpenAI’s competitive advantages, the economics of intelligence, and the pressure and responsibility that come with leading one of the world’s most consequential companies. TIMESTAMPS 0:00 Intro 4:10 The Race for Compute 14:24 A Sci-Fi Cyber In

...I call. You know everybody talks about FOMO fear of missing out. I'm talking about female. And that is fabulous earnings momentum that we didn't have that back in 20 2022. And it was really at the end of 2020, 23rd November that we suddenly had ChatGPT and a revolution just starting. And the arc of this, I just finished Justin Baer's wonderful book on net Johnson and, you know, the industry from Marissa, 1974 forward. My basic take is we've rationalized an ownership of bonds, which has been r

...SEQUENCE WILL FOLD INTO A STRUCTURE. THIS IS IMPORTANT FOR ACCELERATING THE UNDERSTANDING OF HUMAN DISEASE AND DESIGNING DRUGS TO TARGET THOSE DISEASES. IT WON THE NOBEL PRIZE FOR CHEMISTRY. THIS IS A TECHNOLOGY, EVEN THOUGH IT IS CALLED AI AND CHATGPT IS CALLED AI, DEEPMIND IS FUNDAMENTALLY DIFFERENT FROM HOW CHATGPT IS PRODUCED AND HOW IT OPERATES. IT USES VERY LITTLE DATA AND COMPUTING RESOURCES AND THERE IS NO NEED FOR LABOR EXPLOITATION, EITHER. AND IT IS STILL ABLE TO PROVIDE A LOT OF B