Earnings Overload

Summary

Tech Brew Ride Home: "Earnings Overload" (April 30, 2026)

Main Theme Overview

This episode delivers a granular breakdown of a blockbuster day in tech earnings, focusing on how massive capital expenditures (CapEx) in AI infrastructure are reshaping the financial narratives—and stock market reactions—of Big Tech. Host Brian McCullough and his co-host analyze the divergent fates of Meta, Alphabet (Google), Microsoft, and Amazon, while also covering significant developments around SoftBank’s new AI-robotics IPO, funding maneuvers at Anthropic, quirky OpenAI AI behavior, and court drama involving Elon Musk.

---

Key Segment Breakdown

1. Tech Giant Earnings: Wall Street Reacts

Timestamps: [00:34] – [07:42]

Meta: Big Bets, Big Risks

• Shares drop 10% after Meta hikes CapEx guidance to $125–145 billion for the year—spending driven by an "AI race" but lacking clarity on returns.
• Driver: Meta’s AI infrastructure investments, billion-dollar deals with Nvidia, AMD, and Broadcom, and new data centers have increased costs.
• Investor fear: Elevated CapEx without a proven, direct monetization path for Meta’s AI properties.
• Notable Quote:

  "Investors continue to be concerned about how Zuckerberg's once capital-light money machine may be morphing into a capital-intensive incinerator." – Dec Mullarki, SLC Management [06:34]

Alphabet (Google): AI Cloud Powers Growth

• Shares soar 6% to near $4.5T market cap.
• Cloud division sees enterprise AI as the main growth driver, with customers building "agentic" applications on Gemini, and massive hardware sales (TPU chips).
• CapEx guidance raised to $180–190 billion, with even higher investments expected in 2027; investors are largely supportive due to a $460B order backlog.
• Notable Quote:

  "Google Cloud's backlog nearly doubled sequentially to $462 billion, thanks to AI demand and TPU hardware sales, showing off Alphabet's vertical integration advantage." – Brian McCullough [03:33]

Microsoft & Amazon: Growth, But Muted Response

• Amazon AWS: Accelerated to 28% YoY growth, but fell slightly short of analyst estimates.
• Microsoft: Azure’s 39% growth meets expectations, adds 5 million new Copilot subscriptions, spending $190 billion CapEx this year.
• Investor mood: Less enthusiastic than for Google; Microsoft shares down 1.8% after a strong prior month.

Data Point

• Combined Giants' CapEx:

  "Meta, Alphabet, Microsoft, and Amazon's combined capex hit a record $130 billion just in Q1, putting the four on track to reach $725 billion in capex spending for the whole of 2026, up 77% from $410 billion last year." – Brian McCullough [05:14]

2. SoftBank Bets Big on AI Robotics with IPO

Timestamps: [08:03] – [10:43]

• SoftBank to IPO ‘Rose’ — a new US AI and robotics firm, targeting a $100 billion valuation and focused on building data centers.
• Timeline: As early as 2026; launching Analyst Day in Texas for promotion in July.
• Strategic Moves: Includes assets from ABB Robotics, major US data center builds (e.g., Ohio).
• Risks:
  • Skepticism over aggressive valuation and IPO timing—geopolitics and economic shocks (e.g., “Trump's strikes on Iran”) noted.
  • Heavy exposure to OpenAI; volatility in SoftBank shares tied to OpenAI fortunes.
• Notable Quote:

  "The risks are rising for Son, who has staked his reputation on his ability to make SoftBank central to AI, a technology he believes is ushering in a new industrial revolution that will elevate humanity to its next phase." – [09:50]

3. Anthropic’s Race for a $900B Valuation

Timestamps: [11:15] – [13:00]

• Anthropic (creator of Claude): Considering a massive funding round at up to $900B valuation—investors eager to join, despite already raising $380B earlier in 2026.
• Demand ‘insane’: Institutional investors are fighting to secure meetings with CFO Krishna Rao.
• Positioning: Set to meet or surpass OpenAI’s $852B valuation after its giant February round.
• Notable Quote:

  "One institutional investor prepared to commit as much as $5 billion has yet to secure a meeting with Anthropic CFO Krishna Rao, according to a source." – [12:20]

4. OpenAI’s ‘Goblin Problem’

Timestamps: [13:00] – [14:25]

• Wired exposé reveals OpenAI’s coding model (GPT-5.1 and beyond) developed a penchant for referencing “goblins, gremlins, raccoons, trolls, ogres, pigeons…” tied to its “nerdy personality” option in reinforcement learning.
• OpenAI responded transparently, admitting RL had spread this meme-like behavior beyond its intended scope.
• Fix: After removing the personality, reminders still lingered—OpenAI had to explicitly instruct Codex not to mention such creatures.
• Fun Moment:

  "If you’d prefer to have your AI code with some goblin sprinkled in, OpenAI has shared a way to reverse its instructions." – Co-Host/Analyst [14:25]

5. Elon Musk Testifies in OpenAI Lawsuit

Timestamps: [14:42] – [16:38]

• Musk on the stand: Admits regret for funding OpenAI—“I was a fool who provided them free funding to create a start.” [14:54]
• Revelations:
  • Musk gave $38 million in seed money, claims he contributed “my reputation” too.
  • Spars with attorney over tax breaks, previous claims that Tesla wasn't pursuing AGI (though a March tweet suggests otherwise).
  • Critiques OpenAI’s shift to for-profit—“What you can’t do is have your cake and eat it too.” [16:18]
• Musk’s take: XAI, his own AI company, is technically an OpenAI competitor, but “much smaller.”

6. Quick Fundraising Highlight: Featherless AI

Timestamps: [16:50] – [17:16]

• Featherless AI: Raises $20M in Series A from AMD Ventures & Airbus Ventures, supports 30k+ open models—a plug for early investors.

---

Notable Quotes & Memorable Moments

• Meta Critique:

  "Zuckerberg's once capital-light money machine may be morphing into a capital-intensive incinerator." – Dec Mullarki [06:34]

• Alphabet Appreciation:

  "Investors cheered Google as it showed signs of strong AI driven growth and earnings after facing criticism for allowing OpenAI and Anthropic to more quickly commercialize a that its DeepMind lab incubated." – Co-Host/Analyst [06:43]

• The AI Economy is...

  "The AI economy is healthy." – Brent Thrill [05:50]

• On Investor Confidence:

  "The bear thesis is garbage." – Co-Host/Analyst [06:00]

• Musk’s Regret:

  "I was a fool who provided them free funding to create a start... I contributed my reputation. These things all have value." – Elon Musk [14:54, 15:58]

---

Segment Timestamps Cheat Sheet

• [00:34] Tech earnings overview: Meta, Alphabet, Microsoft, Amazon
• [03:15] Alphabet’s AI-fueled cloud surge
• [05:14] CapEx arms race—$725B projected for 2026
• [08:03] SoftBank’s Rose IPO ambitions/risk factors
• [11:15] Anthropic’s new funding round at $900B+ sought
• [13:00] OpenAI’s “goblin” incident explained
• [14:42] Elon Musk’s testimony on OpenAI funding regrets
• [16:50] Featherless AI funding news

---

Recap Takeaways

• Enormous CapEx in AI is dividing investor sentiment: Google is handsomely rewarded; Meta is punished; Microsoft and Amazon are somewhere between.
• The battle for cloud leadership is heating up, with Google Cloud gaining ground.
• SoftBank is aggressively repositioning itself as a kingpin of AI, but faces volatility and skepticism.
• Valuations for AI startups like Anthropic and OpenAI have reached near-trillion levels, with investor appetite undimmed.
• Musk continues to play provocateur in AI drama, airing regrets and ongoing beefs with OpenAI.

For listeners, this episode delivers a full-throttle, jargon-light ride through a pivotal day in tech—and a forecast for where AI-fueled spending and competition are pushing the industry next.

Transcript

[Windows 11 Student Offer Announcer]

Study and play come together on a Windows 11 PC and for a limited time, college students get the best of both worlds. Get the Unreal college deal Everything you need to study and play with select Windows 11 PCs. Eligible students get a year of Microsoft 365 Premium and a year of Xbox Game Pass ultimate with a custom color Xbox wireless controller. Learn [e-mail] studentoffer while supplies last ends June 30th terms at aka mscollegepc.

[Brian McCullough]

Welcome to the Tech Brew Ride home for Thursday, April 30, 2026. I'm Brian McCullough. Today, Big Tech earnings landed Alphabet soared on cloud growth, while Meta dropped 10%

[Co-Host/Analyst]

after hiking CapEx to 145 billion.

[Brian McCullough]

SoftBank plans an AI Robotics IPO called Rose Anthropic Ways a more than $900 billion round and Elon Musk called himself a fool for backing OpenAI.

[Co-Host/Analyst]

Here's what you missed today in the world of tech.

[Brian McCullough]

For whatever reason, everybody in tech has

[Co-Host/Analyst]

decided to do earnings on the same day all of the sudden, and I'm not sure if that makes my job

[Brian McCullough]

easier or harder, but here we are.

[Co-Host/Analyst]

Not sure there's anything standout to highlight from the various earnings reports, although Microsoft

[Brian McCullough]

is down in the neighborhood of 5%

[Co-Host/Analyst]

this morning and Meta is down around 10%.

[Brian McCullough]

So let's see what the street didn't like about Meta.

[Co-Host/Analyst]

Quoting Bloomberg Meta Platform's shares plunged by

[Brian McCullough]

the most in six months after the company raised its spending outlook for the

[Co-Host/Analyst]

year, reigniting fears that the historic levels of investment that Chief Executive Officer Mark Zuckerberg is making to catch up in the artificial intelligence race won't pay off.

[Brian McCullough]

The social media giant projected full year capital expenditures of 1:25 to $145 billion,

[Co-Host/Analyst]

exceeding analyst estimates and marking a roughly

[Brian McCullough]

7.4% increase from the company's previous projections in January.

[Co-Host/Analyst]

Meta said the increase is partly driven by conviction that its AI strategy is working.

[Brian McCullough]

But the company is also dealing with,

[Co-Host/Analyst]

quote, higher component pricing and additional data center costs, chief Financial Officer Susan Lee said Wednesday on a call with investors.

[Brian McCullough]

Zuckerberg has said that his company will spend hundreds of billions of dollars on AI infrastructure by the end of the

[Co-Host/Analyst]

decade, and that was before a memory chip shortage triggered a surge in prices.

[Brian McCullough]

Meta has announced billion dollar deals with

[Co-Host/Analyst]

Nvidia, Advanced Micro Devices and Broadcom for

[Brian McCullough]

chips and other hardware just since the beginning of the year, and is building

[Co-Host/Analyst]

several massive data centers to power its efforts.

[Brian McCullough]

On Thursday, Meta kicked off a bond sale of between 20 and $25 billion in debt, according to people with knowledge of the matter.

[Co-Host/Analyst]

Zuckerberg said he has confidence in the decision to further boost AI spending, but that confidence wasn't reciprocated by Wall Street. Investors balked when the CEO failed to provide details about how Meta plans to make a return on its investment, sending shares down as much as 10% on Thursday after trading got underway in New York, their biggest intraday drop since October. The higher spending quote the stakes for Meta given it's using its own AI system, which still trails Frontier Lab peers, wrote Bloomberg Intelligence analyst Mandeep Singh. So far, Meta's standalone app hasn't had the amount of engagement versus other frontier labs. End quote and quoting MarketWatch to check in with Alphabet for the first time,

[Brian McCullough]

enterprise AI solutions became the primary growth driver in the cloud division as customers

[Co-Host/Analyst]

coded agentic applications on the Gemini platform.

[Brian McCullough]

Google's tensor processing units have led to

[Co-Host/Analyst]

cost efficiencies internally, and the company said on the earnings call that it's planning

[Brian McCullough]

to deliver chips for customers to deploy

[Co-Host/Analyst]

in their own data centers soon.

[Brian McCullough]

Google Cloud's backlog nearly doubled sequentially to $462 billion, thanks to AI demand and

[Co-Host/Analyst]

TPU hardware sales, showing off Alphabet's vertical integration advantage.

[Brian McCullough]

Investors were so dazzled by Google Cloud's growth that they were willing to overlook

[Co-Host/Analyst]

increased capital expenditures or perhaps saw them as necessary to fuel continued growth.

[Brian McCullough]

On the earnings call, Alphabet announced that it would be raising full year CapEx projections to between $180 to $190 billion,

[Co-Host/Analyst]

up from $175 to $185 billion previously. Alphabet also hinted that CapEx plans for 2027 are expected to significantly increase.

[Brian McCullough]

The rest of the hyperscalers didn't receive the same treatment. Although Amazon Web services accelerated to 28%

[Co-Host/Analyst]

growth this quarter, the results fell a hair short of the 28 to 30% target, Jefferies analyst Brent Thrill wrote in a note.

[Brian McCullough]

Following earnings, Microsoft reported a 5 million quarter over quarter increase in paid Copilot

[Co-Host/Analyst]

subscriptions, but Azure revenue growth of only 39% was only in line with estimates, Thrill added. Microsoft plans to spend $190 billion in capex this year.

[Brian McCullough]

Although Meta's revenue growth of 33% exceeded expectations, that wasn't enough momentum to justify

[Co-Host/Analyst]

its increase in capex in the eyes of investors. Meta now plans to spend 1:25 to $145 billion in 2026.

[Brian McCullough]

Unlike the other three hyperscalers, Meta doesn't

[Co-Host/Analyst]

have a that sells AI computing to investors.

[Brian McCullough]

However, while Meta is being questioned for its spending, Alphabet's investment is being rewarded

[Co-Host/Analyst]

because it's backed by a $460 billion order backlog, Jake Bahan, head of capital markets at Derexion, wrote in a Wednesday note.

[Brian McCullough]

And truly the bottom line here is that Meta Alphabet, Microsoft And Amazon's combined capex hit a record $130 billion just in Q1, and that puts the four on track to reach $725 billion in

[Co-Host/Analyst]

capex spending for the whole of 2026, up 77% from the $410 billion spent just last year. Quoting the FT While investors have expressed

[Brian McCullough]

skepticism about the huge sums in the

[Co-Host/Analyst]

past, they broadly welcomed the earnings reports as demand for AI in data centers drove large jumps in revenue and profits, led by a 63% increase in Google Cloud revenue.

[Brian McCullough]

The AI economy is healthy, said Brent

[Co-Host/Analyst]

Thrill, an analyst at Jefferies. Recent increases in revenue suggested that the

[Brian McCullough]

big players can shoulder the vast capex costs, he added.

[Co-Host/Analyst]

The bear thesis is garbage.

[Brian McCullough]

Shares in Alphabet rose 6% in pre market trading, on course to open at

[Co-Host/Analyst]

a record market value of nearly $4.5 trillion on Thursday. Amazon rose 1.8% and Microsoft was down 1.8% after gaining 18% in the past month.

[Brian McCullough]

The mood was darker at Meta, where

[Co-Host/Analyst]

a drop in users, an increase in capex and Chief Executive Mark Zuckerberg's vague

[Brian McCullough]

timeline to launch improve AI models sent

[Co-Host/Analyst]

the stock down 8% in pre market trading, even as revenues jumped by a third.

[Brian McCullough]

Investors continue to be concerned about how Zuckerberg's once Capital light money machine may

[Co-Host/Analyst]

be morphing into a capital intensive incinerator, said Dec Mullarki, managing director of SLC Management.

[Brian McCullough]

Investors are not interested in growth at

[Co-Host/Analyst]

any cost, end quote. In contrast, investors cheered Google as it showed signs of strong AI driven growth and earnings after facing criticism for allowing OpenAI and Anthropic to more quickly commercialize a that its DeepMind lab incubated.

[Brian McCullough]

Amazon added $8.3 billion in cloud sales,

[Co-Host/Analyst]

for a total of $37.6 billion for

[Brian McCullough]

the quarter, while Microsoft's cloud unit, which

[Co-Host/Analyst]

houses Azure, added $7.9 billion in revenue, rising to $34.7 billion.

[Brian McCullough]

Melissa Otto, head of Visible Alpha research at SP Global, said the results suggested

[Co-Host/Analyst]

Google Cloud is starting to take a little market share. It could be nipping at their heels. Cloud boss Thomas Kurian, in an interview

[Brian McCullough]

with the FT last week, attributed Google's progress to a longstanding strategy to build

[Co-Host/Analyst]

its own custom A foundation, models and products in house.

[Brian McCullough]

He argued this gave the company a cost and research advantage over its cloud

[Co-Host/Analyst]

and AI peers which have struggled to build their own chips and frontier models. Google on Wednesday claimed a $460 billion

[Brian McCullough]

backlog of contracts to rent data center

[Co-Host/Analyst]

space, which helped the market stomach a $5 billion rise in its capex guidance to as much as $190 billion this year. Chief Financial Officer Anat Ashkenazi said spending would significantly increase again in 2027. End Quote Foreign.

[Brian McCullough]

Says that SoftBank plans to create an AI and robotics company they're going to call Rose in the US to build data centers and list it as early as 2026 on public markets seeking a

[Co-Host/Analyst]

$100 billion valuation quote SoftBank founder Masayoshi

[Brian McCullough]

San wants to list the group this year, according to multiple people familiar with the matter, as he rushes to offset

[Co-Host/Analyst]

spending commitments across the conglomerate's portfolio into

[Brian McCullough]

the tens of billions of dollars, including its huge pledges to OpenAI.

[Co-Host/Analyst]

The Japanese group plans to hold an

[Brian McCullough]

analyst day in a data center facility

[Co-Host/Analyst]

in Texas in July to promote the

[Brian McCullough]

ipo, according to the same people. The group has not finalized how large a stake in Rose it will sell,

[Co-Host/Analyst]

but it has previously retained a majority share of the companies it has taken to public markets. SoftBank still holds nearly 90% of UK chip designer ARM, which listed in 2023 as an example.

[Brian McCullough]

Despite Son's optimism, some inside SoftBank are skeptical about the valuation and the proposed timeline for an ipo, in part due to the geopolitical and economic uncertainties following

[Co-Host/Analyst]

US President Donald Trump's strikes on Iran. Adding to the risk for listings this

[Brian McCullough]

year, US Public markets may soon also have to absorb three of the largest

[Co-Host/Analyst]

IPOs ever Elon Musk's, SpaceX, Anthropic and OpenAI.

[Brian McCullough]

The valuation target could shift and is considered ambitious by some SoftBank executives since

[Co-Host/Analyst]

it relies on rapidly expanding its data center businesses.

[Brian McCullough]

ABB Robotics, which SoftBank agreed to buy

[Co-Host/Analyst]

last year, could play a critical role

[Brian McCullough]

once the deal closes alongside some existing group assets, including land and infrastructure, according to one of the people familiar with the matter.

[Co-Host/Analyst]

SoftBank is working fast on building its

[Brian McCullough]

own data centers, including a large scale project in Ohio, and people familiar with the matter say Son has big ambitions in the sector. The risks are rising for Son, who has staked his reputation on his ability

[Co-Host/Analyst]

to make SoftBank central to AI, a technology he believes is ushering in a new industrial revolution that will elevate humanity to its next phase.

[Brian McCullough]

SoftBank was already pushing up against its own leverage limits and would need to sell or monetize assets soon to maintain its spending trajectory, people within the company said. OpenAI's IPO is a central part of San's plan to reduce leverage, but the startup is facing growing competition from rivals,

[Co-Host/Analyst]

including Google and Anthropic. SoftBank's share price has been highly volatile

[Brian McCullough]

as investors use the stock to gain

[Co-Host/Analyst]

exposure to OpenAI, which has been buffeted by expectations around tech stocks. More broadly, SoftBank hit a record high

[Brian McCullough]

last October before falling close to 45% by March. It had since recovered much of its

[Co-Host/Analyst]

lost ground, but fell sharply in the past few days over renewed fears about OpenAI's growth. End quote.

[Wired Podcast Narrator]

The Wired newsroom is known for award winning reporting on how technology shapes our world. On WIRED's Uncanny Valley, we take that curiosity even further. Each week, journalists from Wired break down the biggest stories in tech while speaking directly with the people building challenging and reshaping the future. Is the AI boom sustainable? How do you protect your privacy in an age of constant surveillance? Uncanny Valley tackles the questions driving today's tech debates and lighting up your group chats. Listen to new episodes every Thursday wherever you get your podcasts.

[Brian McCullough]

Yeah Sources say Anthropic has begun weighing a new funding round at a greater than $900 billion valuation after previously resisting

[Co-Host/Analyst]

investor propos at a greater than $800 billion valuation. Quoting TechCrunch, the maker of the Claude

[Brian McCullough]

AI assistant has received multiple preemptive offers to raise fresh capital of around $50

[Co-Host/Analyst]

billion at a valuation in the $850 to $900 billion range, according to half

[Brian McCullough]

a dozen sources familiar with the matter.

[Co-Host/Analyst]

Bloomberg and Business Insider reported earlier this

[Brian McCullough]

month that Anthropic received multiple preemptive bids

[Co-Host/Analyst]

at an $800 billion valuation, but at

[Brian McCullough]

that time the company had not yet

[Co-Host/Analyst]

committed to a fundraise.

[Brian McCullough]

Sources say, however, that Anthropic is finding it difficult pressure to secure more funding

[Co-Host/Analyst]

in what could be its final round of private fundraising before a potential ipo. The company is expected to make a

[Brian McCullough]

definitive decision on the round and its valuation at a board meeting in May,

[Co-Host/Analyst]

one person told TechCrunch. The round is expected to total $40.

[Brian McCullough]

50 billion, according to people familiar with the company. But investor demand appears to be much higher given the company's rapid growth, which

[Co-Host/Analyst]

shows no sign of slowing. Investors are clamoring to get into the round.

[Brian McCullough]

One institutional investor prepared to commit as much as $5 billion has yet to

[Co-Host/Analyst]

secure a meeting with with Anthropic CFO Krishna Rao, according to a source. Anthropic raised its last round at a

[Brian McCullough]

$380 billion valuation in February. If the company proceeds with another fundraise

[Co-Host/Analyst]

at the terms described by TechCrunch's sources,

[Brian McCullough]

it will not only more than double its valuation, but also match or surpass

[Co-Host/Analyst]

that of its chief rival. Also in February, OpenAI closed a record breaking $122 billion round at a $852 billion post money valuation, end quote.

[Brian McCullough]

So this wasn't a joke headline, I guess.

[Co-Host/Analyst]

Quoting the Verge OpenAI is opening up about its Goblin problem After a report from Wired revealed instructions to OpenAI's coding model to never talk about goblins, gremlins, raccoons, trolls, ogres, pigeons or other animals or creatures, the AI startup published an

[Brian McCullough]

explanation on its website, calling references to the creatures a strange habit its models

[Co-Host/Analyst]

developed as a result of their training.

[Brian McCullough]

As outlined in the blog post, OpenAI

[Co-Host/Analyst]

began noticing metaphors referencing goblins and other creatures, starting with its GPT 5.1 model,

[Brian McCullough]

specifically when using the nerdy personality option.

[Co-Host/Analyst]

OpenAI says the problem continued to worsen

[Brian McCullough]

with subsequent model releases until it found that its reinforcement training rewarded the quirky

[Co-Host/Analyst]

metaphors with the nerdy personality which newer models were training on. The rewards were applied only in the

[Brian McCullough]

nerdy condition, but reinforcement learning does not guarantee that learned behaviors stay neatly scoped

[Co-Host/Analyst]

to the condition that produce them. Once a style tick is rewarded, later

[Brian McCullough]

training can spread or reinforce it elsewhere,

[Co-Host/Analyst]

especially if those outputs are reused in supervised fine tuning or preference data.

[Brian McCullough]

Though references to Goblins and gremlins dropped off after OpenAI discontinued the nerdy Personality in March, they didn't disappear completely with

[Co-Host/Analyst]

GPT 5.5 inside its Codex coding tool as OpenAI started training the model.

[Brian McCullough]

Before finding the root cause, the company

[Co-Host/Analyst]

had to give Codex very specific instructions

[Brian McCullough]

not to talk about the mythological creatures as a result. But if you'd prefer to have your

[Co-Host/Analyst]

AI code with some goblin sprinkled in, OpenAI has shared a way to reverse its instructions, end quote. Finally today, Today in the big trial, quoting the journal Elon Musk said he

[Brian McCullough]

was a, quote, fool to back OpenAI

[Co-Host/Analyst]

when it was a nonprofit and clashed with an attorney for Sam Altman as he testified in a court battle that has pitted titans of the AI industry against each other.

[Brian McCullough]

I was a fool who provided them free funding to create a start, musk

[Co-Host/Analyst]

said on the witness stand Wednesday.

[Brian McCullough]

I gave them $38 million of essentially free funding to create what would become

[Co-Host/Analyst]

an $800 billion company.

[Brian McCullough]

William Savitt, attorney for Altman and OpenAI,

[Co-Host/Analyst]

opened the cross examination Wednesday by correcting Musk when he testified earlier in the day that Tesla wasn't pursuing artificial general intelligence. A tweet written by Musk in March, flashed on the screen.

[Brian McCullough]

Tesla will be one of the companies to make AGI and probably the first

[Co-Host/Analyst]

to make it in humanoidatom shaping form.

[Brian McCullough]

Musk's plans for Tesla are relevant in the case because at one point Musk suggested to OpenAI founders that the AI lab could be folded into Tesla, according

[Co-Host/Analyst]

to email correspondence submitted as evidence in the federal trial in Oakland, California.

[Brian McCullough]

Early into the cross examination, Musk expressed

[Co-Host/Analyst]

frustration at Sabit's questions about potential tax breaks he might have received as a result of his donations to OpenAI and his role in helping start the company. Your questions are not simple, he said. They're designed to trick me. Essentially, Savit sought to highlight Musk's initial

[Brian McCullough]

commitment to donate 1 billion doll to OpenAI.

[Co-Host/Analyst]

Did you contribute anywhere near to $1

[Brian McCullough]

billion to the organization? Savitt asks.

[Co-Host/Analyst]

I contributed my reputation, said Musk. These things all have value. Altman and Brockman appeared in court Wednesday,

[Brian McCullough]

with each taking notes during Musk's testimony.

[Co-Host/Analyst]

At times, Brockman showed his notes to

[Brian McCullough]

Altman while Altman nodded.

[Co-Host/Analyst]

Musk started the day by reiterating his

[Brian McCullough]

issues with OpenAI's for profit conversion to

[Co-Host/Analyst]

his lead attorney, Steven Molo.

[Brian McCullough]

What you can't do is have your cake and eat it too, he said, adding that OpenAI couldn't have the moral

[Co-Host/Analyst]

high ground associated with nonprof organizations when its real motivation as a company was, quote, profit maximization.

[Brian McCullough]

Molo asked Musk Whether Xai, the AI company he launched in 2023, is a competitor to OpenAI. It is at this point technically competitive,

[Co-Host/Analyst]

but much smaller than OpenAI, Musk said. End quote.

[Brian McCullough]

Quick interesting raise the serverless inference platform

[Co-Host/Analyst]

Featherless AI raised a $20 million Series

[Brian McCullough]

A co led by AMD Ventures and Airbus Ventures.

[Co-Host/Analyst]

The startup supports over 30,000 open models. And guess what? The Riot Home Fund was an investor at the seed or was it pre seed stage? Anyway, early investor reminder. If you want to get your money early into startups like Featherless AI, invest alongside me by checking out ridehomefund.com or email me at brian ridehomefund.com and I'll tell you more. Talk to you tomorrow.