The AI Energy Stack: The Actual Industry Winners

The AI Energy Stack: The Actual Industry Winners

This is the long-awaited Energy Stack episode. The AI trade is shifting from GPUs to the power, wiring, and data center infrastructure needed to support them.  Today, we cover Bloom Energy, optical networking companies like Lumentum and Corning, Marvell’s role in AI hardware, and neocloud providers such as Nebius, CoreWeave, and IREN. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER:    https://limitlessft.substack.com/ FOLLOW ON X:   https://x.com/LimitlessFT SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED:           https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 GPU Bottleneck Shifts 0:37 Power Becomes the Constraint 3:15 Five-Year Grid Delays 5:47 Bloom’s Fast Energy Fix 9:54 Data Transfer Hits Limits 11:51 Light Replaces Copper 17:25 Power Delivery Gets Harder 18:22 Marvell Wins Power Design 20:35 Renting Compute at Scale 21:08 Nebius and NeoClouds 25:17 Compute Becomes an Asset 29:47 The Substrate Layer Ahead ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

GPT-5.6: OpenAI's New Model Cheated and Now It's Locked Away

In this episode, we discuss OpenAI’s restricted GPT-5.6, its model tiers, and questions raised by its benchmark results and reported behavior. We also cover pricing pressure from open source AI models, limited public access to frontier systems, and broader consolidation in the AI industry. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER:    https://limitlessft.substack.com/ FOLLOW ON X:   https://x.com/LimitlessFT SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED:           https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 GPT 5.6 Banned 1:46 Three New Models 4:51 Benchmarks and Politics 6:43 Cheating on Long Tasks 8:26 Cheaper Frontier AI 11:01 Hidden Risks Revealed 12:34 Closed Access Dilemma 14:26 Government and Public Gap 19:40 Encryption All Over Again 22:04 Waiting for the Framework 23:08 AI Talent Consolidates 24:13 Frontier Moves Faster ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

THIS WEEK IN AI: ChatGPT Built its Own Chip, Micron Soars, a24's $75m Google Deal

Today we're unpacking OpenAI’s plan to build its own custom AI chip—the Jalepeño—and what that means for its hardware strategy.  We also cover Micron’s strong earnings, its ties to Anthropic, Meta’s next model timeline, and new developments from Google, Amazon, Anthropic, and Valar Atomics. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER:    https://limitlessft.substack.com/ FOLLOW ON X:   https://x.com/LimitlessFT SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED:           https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 OpenAI’s AI Chip Move 2:46 Compute and Hardware Strategy 5:30 Micron’s Earnings Surge 11:03 Meta’s Mythos Model Delay 14:47 A24 Meets Google AI 17:51 Sam Altman Movie Standoff 19:02 Claude Tag Enters Slack 21:10 Newsletter and Sponsorship Call ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

The Quantum Computing Moment: The Last Tech Frontier

Quantum computing is shaping up to be the next major technology after AI, especially in the wake of U.S. efforts to speed up development and prepare for quantum security threats. So let's walk through the basics of qubits, the impact on encryption and Bitcoin, and the main companies and applications currently shaping the field. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER:    https://limitlessft.substack.com/ FOLLOW ON X:   https://x.com/LimitlessFT SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED:           https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Quantum’s Next Wave 3:04 How Qubits Break Encryption 6:35 Trump’s Quantum Executive Orders 9:31 Fault Tolerance Explained 12:11 IBM Enters the Race 15:47 Rigetti and D-Wave 18:33 Quantum’s AI Moment ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

The Point of No Return: GLM 5.2 Approaches the Frontier

The Chinese open-weight AI model GLM 5.2 compares with leading models from OpenAI and Anthropic on coding and development tasks.  Today, we cover the shift toward cheaper AI models, the difference between open weights and closed models, and the U.S. government’s reported ban on Anthropic’s most powerful model after security testing. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER:    https://limitlessft.substack.com/ FOLLOW ON X:   https://x.com/LimitlessFT SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED:           https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 China’s Open Source Comeback 3:05 Benchmarks and Cost 8:15 Markets 10:51 A Six-Month Model Gap 13:56 The Fable 5 Ban 15:56 Public Access and Competition 19:26 Open Source vs Open Weights 21:09 Multi-Model Routing Arrives 25:41 Regulation and the Road Ahead 28:31 Closing ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠