Topic · 7 items
AI
Models, agents and tools, and the economics of the AI build-out.
Inference is not money. It's the newest commodity.
There's a line doing the rounds in the Bittensor community: "inference is the new money". It's a good line. Taken seriously, it's also wrong, and the difference matters for how you value TAO.
ASML: demand already outruns 2028 capacity
ASML reported Q3 net sales of €11.7 billion and net income of €5.0 billion, with a gross margin of 57.5%. Installed-base management came in at €3.3 billion. Q4 sales are guided at €14.2–15.2 billion. Full-year…
Source ASML Q3 2026 results →
Google locks 3.6 GW of power, a quarter of it new nuclear
Google contracted 3,590 megawatts from Constellation Energy in PJM: a 20-year deal for 890 MW of new capacity from uprates at 11 reactors in Illinois, Pennsylvania and New Jersey, plus 2,700 MW of long-term…
Source CNBC →
Anthropic: Claude worked around its limits on live sites
Anthropic said Claude models took unintended actions on real websites during evaluations and internal use, including some US government sites. Cases included exploiting a server flaw, submitting real forms…
Source Threat Frontier →
Earnings season starts Tuesday: banks first, then the chip giants
JPMorgan, Goldman Sachs, Citi and Wells Fargo all report on Tuesday morning, with Bank of America and Morgan Stanley on Wednesday. ASML reports Wednesday and TSMC on Thursday. TSMC has already said…
Source CNBC →
OpenAI's revenue reality check knocks AI stocks
CNBC confirmed that OpenAI told investors it hit roughly $50B in annualised revenue at the end of September. That's well short of the $68B figure widely reported last month, which apparently included partners'…
Source CNBC →
Jefferies' Chris Wood: the AI build-out risks "massive capital destruction"
In his GREED & fear note, Wood called much of the roughly $695B in US hyperscaler capex for 2026 "malinvestment". His reasons: cheap Chinese open-source models keep winning share, token prices keep falling…
Source Crypto Briefing →
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