This episode of Equity covers a wide range of business news, including Elon Musk losing his OpenAI trial, a new AI startup NanoCo raising $12 million, Anthropic acquiring Stainless for ~$300 million, consumer pushback against AI integration, and SpaceX’s massive $1.75 trillion IPO filing, which reveals a focus on AI compute and wild projections.
Summarized by Podsumo
Elon Musk lost his OpenAI trial on a statute of limitations technicality, but he plans to appeal and declared a moral victory.
NanoCo, an 'open-claw' alternative, raised $12 million in seed funding after rejecting a $20 million buyout, focusing on secure AI agent operations.
Anthropic acquired SDK startup Stainless for ~$300 million and hired OpenAI co-founder Andrej Karpathy, signaling growing competition with OpenAI.
Consumers, especially younger generations, are pushing back against AI integration, with students booing Eric Schmidt at commencement and Google facing backlash for AI overviews in search.
SpaceX’s IPO filing targets a $1.75 trillion valuation, with a $28 trillion TAM dominated by 'enterprise AI' (but $30 billion in debt and deep ties to Elon Musk’s other ventures).
"You can do a lot with two hours. You can go see a movie... or you can apparently have your entire jury deliberations and turn around and come back and say, 'Yeah, this is we're throwing this out.' — *Anthony Ha*"
"I'm not saying I'm optimistic, but I am really interested to see... all of these advancements in AI have made it possible for competition to actually try to make a stake [against Google]."