Latest / In the Loop AI / THIS WEEK IN AI: Nvidia Acquires HuggingFace, Leopold vs SEC, New Waymo Chip

Transcript

THIS WEEK IN AI: Nvidia Acquires HuggingFace, Leopold vs SEC, New Waymo Chip · In the Loop AI

0:00
Ejaaz: The very same company that just got hacked by a rogue open AI model just got
0:04
Ejaaz: acquired for $13 billion by none other than NVIDIA.
0:09
Ejaaz: Jensen Huang believes so strongly in owning open source models in America and
0:14
Ejaaz: he's made his biggest purchase yet.
0:16
Ejaaz: But that's not without cause. NVIDIA just reported their earnings and they had a record quarter.
0:21
Ejaaz: They earned almost $100 billion in just three months and the company is growing
0:25
Ejaaz: 100% year over year. This is unprecedented for the most valuable company in
0:29
Ejaaz: the world worth over $5 trillion. And every single bank has raised their price
0:34
Ejaaz: targets for the NVIDIA stock.
0:35
Ejaaz: But that's not all in this week's roundup. We had a new secret model that revealed
0:39
Ejaaz: to be GPU's new GLM 5.3 flash, which competes at the level of Fable and OpenAI
0:44
Ejaaz: GPT 5.6, but at a fraction of the cost.
0:47
Ejaaz: We've got Leopold updates, unfortunately, of the bad kind, where he's being
0:52
Ejaaz: probed by the SEC, where they've subpoenaed a bunch of banks for accusations of insider trading.
0:58
Ejaaz: And we finally have an update on robots from the worlds of Waymo,
1:02
Ejaaz: autonomous driving, and Tesla. All that and more on this week's Roundup.
1:06
Josh: To start with the NVIDIA quarterly revenue, I want to give you a sense of how
1:10
Josh: outrageous this company is.
1:11
Josh: NVIDIA's quarterly revenue now exceeds the annual revenue of roughly 480 of the S&P 500.
1:20
Josh: That is a crazy statistic, how big it is. NVIDIA is printing about just over
1:25
Josh: a billion dollars in cash every single day that it operates.
1:28
Josh: So the day you're listening to this, NVIDIA is printing a billion dollars of
1:32
Josh: revenue. And that number is going to go up. They're projecting huge amounts
1:35
Josh: of growth over the next quarter.
1:37
Josh: And they're guiding now for 70% year-over-year growth in 2028 relative to the
1:43
Josh: expectations, which were 44%.
1:45
Josh: So this earnings report was about as good as you can guess.
1:49
Josh: And wall street's kind of rewarding them now i mean the stock is up it was down
1:52
Josh: after trading but it is now up seven percent
1:55
Josh: early market we're looking on screen now at all of the banks that have changed
1:58
Josh: their price target after reading this earnings report pretty much every single
2:01
Josh: one of them has raised it significantly higher with the highest being four hundred and twenty dollars
2:06
Josh: per share and for like to grow that much as a five trillion dollar company is
2:11
Josh: a meaningful amount of revenue and i think this is very high signal that
2:15
Josh: The market's still in a really strong spot. NVIDIA is basically saying like,
2:19
Josh: hey, guys, we know we have a lot of competition. We know everyone's trying to
2:21
Josh: build their own thing. In fact, Jensen was on CNBC yesterday and he was asked
2:25
Josh: about OpenAI's Jalapeno chip.
2:26
Josh: I don't know if you saw the CJ's. It was very cool because Jalapeno is a really
2:30
Josh: great model and they are a really great chip. And they came out and said,
2:32
Josh: hey, this is actually more efficient than the NVIDIA chips.
2:35
Josh: And Jensen was like, dude, we're the kings here. We've been doing this for 33
2:38
Josh: years. You've been doing this for three months.
2:41
Josh: Will talk to you when you've actually produced a chip, when you've put it into
2:44
Josh: data centers and when you've scaled this thing.
2:46
Josh: He does not seem concerned. The market really liked that. And now it seems like,
2:50
Josh: I mean, NVIDIA is really off to the races and there's no end in sight.
2:53
Josh: Everyone wants the chips.
2:55
Josh: They are sold out for as much as they can make them. They're basically operating
2:58
Josh: fully at capacity and they have a very clear path to dominating more and more of the industry.
3:02
Josh: They're growing bigger by the day. They now are working with five of the largest
3:05
Josh: banks in the world to help fund the build out of more data centers using NVIDIA GPUs.
3:10
Josh: And it's this like unbelievable business. The entire world of AI is centered
3:13
Josh: around this one company.
3:14
Josh: And the earnings report is saying it's going to be like this for a while.
3:17
Josh: So buckle up because we are up only for the foreseeable future.
3:21
Ejaaz: I just want to show everyone a chart which basically shows NVIDIA's revenue
3:26
Ejaaz: breakdown. This is unbelievable.
3:28
Ejaaz: Over the last, you know, a year or so. And it's just absolutely exponential and crazy.
3:32
Ejaaz: Now, I want to give a bit of background as to why this is happening with NVIDIA,
3:37
Ejaaz: especially recently. Why do they continue to earn more money even though everyone's
3:40
Ejaaz: accusing them of, you know, building up this massive bubble?
3:42
Ejaaz: Well, there's a few things that are happening.
3:44
Ejaaz: The most obvious one being is they've just raised the prices of all their GPUs by 15%.
3:49
Ejaaz: Now, granted, a lot of that is because the cost of memory has absolutely soared.
3:53
Ejaaz: So, you know, those memory stocks have also been very volatile recently.
3:56
Ejaaz: NVIDIA has to pay the most for memory to build their own GPU.
3:59
Ejaaz: So that's a main reason why they're projecting more revenue in the future.
4:02
Ejaaz: That may not necessarily correlate with the profit side of things.
4:06
Ejaaz: The second thing is, you know, your point around jalapeno, which is OpenAI's
4:09
Ejaaz: new custom AI chip, which they're building themselves. Typically,
4:13
Ejaaz: they buy from NVIDIA, but now they're building their own selves.
4:16
Ejaaz: Some people see this as a potential threat, you know, like Google's TPUs are
4:20
Ejaaz: to NVIDIA's kind of moat.
4:21
Ejaaz: And Genset's response is simply, we own the moat for generalized GPUs,
4:27
Ejaaz: for generalized AI chips.
4:29
Ejaaz: That means any AI lab, whether you are a Neolab, so a smaller AI lab,
4:33
Ejaaz: or a large hyperscaler or whether you are anthropic or open AI can use NVIDIA
4:38
Ejaaz: GPUs for whatever type of model. And by the way, it's not just LL apps.
4:42
Ejaaz: It's financial models. It's fine-tuned models. It's models that can help make
4:45
Ejaaz: scientific breakthroughs.
4:46
Ejaaz: Jensen owns that entire mode. When you compare it to what OpenAI has built,
4:50
Ejaaz: Jalapeno, that's known as an ASIC. It's a very specialized thing.
4:53
Ejaaz: They have to prove that out at scale. We haven't even seen these things in operations.
4:56
Ejaaz: We're going to see it by the end of the year. So NVIDIA's response to this is
5:00
Ejaaz: we still very much control 70% to 85% of the entire market, and we aren't going anywhere.
5:06
Ejaaz: Now, the second bit of news on NVIDIA that I'm most excited about is this acquisition,
5:11
Ejaaz: Josh, the $13 billion acquisition of this open source platform called HuggingFace.
5:16
Ejaaz: Now, for those of you who don't know, So HuggingFace is basically this platform
5:20
Ejaaz: which hosts open source AI models.
5:23
Ejaaz: So typically when you are an AI lab, and you can be an AI lab,
5:28
Ejaaz: if you launch an open model, you can deposit it or upload it onto the HuggingFace platform.
5:33
Ejaaz: It's where everyone goes to check out the latest open source model.
5:36
Ejaaz: And you can do a few things when you're on this platform. You can upload your
5:39
Ejaaz: own data sets to fine tune different open models to kind of create your own version.
5:43
Ejaaz: A very good example I like to use is Fujipu.
5:46
Ejaaz: You know all their GLM models? They have about, I think it's like 10 official
5:50
Ejaaz: models, but they're collectively around 155,000 GLM models that exist on Hugging Face.
5:57
Ejaaz: And some are financially tuned for financial trading. Some are financially tuned
6:01
Ejaaz: for research and all these other different niche use cases.
6:03
Ejaaz: And you can go up, sign up on an account and get access to it.
6:06
Ejaaz: Now, I ask myself, why on earth is Jensen paying 50X the amount of money that
6:13
Ejaaz: Hugging Face earns to acquire this open source model? Like, doesn't he just
6:17
Ejaaz: care about Anthropik and OpenAI? Well, the answer is simple.
6:19
Ejaaz: Jensen cares deeply about open source because he believes in a world where it's
6:24
Ejaaz: not just going to be Claude or GPT running the world.
6:26
Ejaaz: It'll be hundreds and hundreds of very niche and also very broad models that
6:31
Ejaaz: run the world. And people can collaboratively use different models at different
6:34
Ejaaz: times. Agents run the entire world.
6:36
Ejaaz: Why this is a bull case for NVIDIA and Jensen in particular is.
6:40
Ejaaz: Guess what? They all need to run on his GPUs. So he's been investing heavily.
6:44
Ejaaz: He invested in Poolside, I believe, last week for $9 billion to acquire 100
6:49
Ejaaz: of their employees so that he can build new open models.
6:52
Ejaaz: He's investing tens of billions of dollars in Nemotron, which is NVIDIA's own
6:55
Ejaaz: open source model, over the next couple of years.
6:58
Ejaaz: And now he's made the third and biggest purchase of his entire kind of like
7:01
Ejaaz: focus for open source. So this is a very specific strategy that I think the
7:05
Ejaaz: banks are rewarding. And that's why they're raising their price targets as well.
7:08
Josh: It's amazing to see all these acquisitions happening we have open router now
7:11
Josh: we have hugging face going hugging face is essentially the github for open source
7:15
Josh: ai it's where everyone goes to build these things it seems like there's
7:18
Josh: three reasons they would do this and there's three reasons why nvidia has kind
7:22
Josh: of been very adamant about moving to open source the first being what we just discussed
7:27
Josh: open ai is building their own custom chips google is building their own custom
7:30
Josh: chips amazon's building their own custom chips everyone is trying to build
7:34
Josh: alternatives to the nvidia gpus it's very difficult to do but they're working
7:37
Josh: on it so open source is a hedge in a way against its own best customers where
7:41
Josh: it allows them to find more use cases more
7:45
Josh: need and demand for tokens that can be generated in the case that they lose
7:49
Josh: some of that market share to these other large companies the second is like
7:52
Josh: open weights seems to very much be where the volume is going we're starting to see the trend
7:57
Josh: Somewhat ossify in the sense that open weights models and open source models
8:01
Josh: are producing a lot more tokens because they are cheaper to use they're mostly
8:05
Josh: effective enough to get the job done for most people and
8:09
Josh: a lot less tokens are going towards frontier intelligence to some extent that
8:13
Josh: frontier intelligence is much higher profit margins it's going to be worth a
8:16
Josh: tremendous amount of money for the people that use it
8:18
Josh: but the amount of use cases that require frontier intelligence are going down
8:22
Josh: because the quality of the open source models are going up so quickly so therefore
8:26
Josh: um why would you not lean into that and if you are a gpu provider who gets paid
8:31
Josh: per token generated and your performance for what to generate tokens and
8:35
Josh: how many tokens you can generate on a like a per second basis open weights is
8:39
Josh: definitely where you want to be you want to be able to cater towards the open
8:42
Josh: source community that's going to be generating a tremendous amount of this inference
8:45
Josh: and then the final part is just like the moat is continuing to move up the stack so like
8:49
Josh: we have the gpus then nvidia is going to
8:52
Josh: kind of optimize these models built for cuda which works by default with their GPUs, and...
8:57
Josh: There will be a one-click deployment onto the nvidia cloud and there's just
9:01
Josh: this huge vertical integration that they get by being supportive of open source
9:04
Josh: and building tools for the open source community to very easily deploy on their gpus
9:08
Josh: and that seems like the strategy and that is a strategy that is going to perform
9:11
Josh: very well because as we know the cloud based businesses in these companies have
9:16
Josh: insane profit margins they print cash and nvidia is like right in the middle
9:21
Josh: of that so really exciting news from nvidia this week can
9:23
Ejaaz: I can i put my tinfoilhound for.
9:25
Josh: A second. Yeah, well, you guys, please.
9:26
Ejaaz: You reminded me of something just now. So NVIDIA actually doesn't have a really
9:30
Ejaaz: good cloud business at all, which seems remarkable for the guys that actually
9:34
Ejaaz: create the GPUs that they then sell to Amazon and Google. They're on it.
9:37
Ejaaz: Don't count them out. They make a bank of money.
9:38
Ejaaz: Well, do you know about the margins for these cloud providers?
9:42
Ejaaz: So like, okay, typically when AWS has their cloud system, like forget about AI, right?
9:47
Ejaaz: And Google has, what is it? Google Cloud GCP.
9:50
Ejaaz: They typically make around 80% margins. But with AI cloud, they make only 40
9:55
Ejaaz: to 50% because guess who's taking the bulk of the profit? It's Jensen, right?
10:00
Ejaaz: And so they kind of want to be independent. They want to build their own chips.
10:02
Ejaaz: But Jensen hasn't been focused on building his own cloud provider.
10:06
Ejaaz: They had a service called DGX and it kind of didn't make much money at all.
10:11
Ejaaz: My conspiracy theory is this. He's purchasing Hugging Face,
10:16
Ejaaz: which one of their mainly used products is this thing called the inference service,
10:21
Ejaaz: where basically not only can you go on and download these open models,
10:24
Ejaaz: then there are hundreds of thousands, there's actually three million of them,
10:27
Ejaaz: but you can inference them there on the platform
10:31
Ejaaz: by just kind of clicking a button and that gets routed to different like neoclouds.
10:36
Ejaaz: So my whole thing is Jensen is not only providing the chips,
10:40
Ejaaz: but he's buying a company where he can effectively churn into his own cloud
10:44
Ejaaz: business that can compete with AWS and GCP.
10:47
Ejaaz: It's a really genius thing because he just focuses on open source models,
10:50
Ejaaz: but he can build that out into private models in the future if he so chooses to do it.
10:54
Ejaaz: The second thing is, remember last week when we spoke about NVIDIA raising $500
10:58
Ejaaz: billion to basically back a lot of the purchases that end up going back to himself?
11:04
Ejaaz: Well, a question that we had on that show was, what happens if he can't sell the chips?
11:09
Ejaaz: Well, guess what? If he's purchased Hugging Face, he could just sell the chips
11:13
Ejaaz: to Hugging Face to serve that same cloud business. So there's like this kind
11:17
Ejaaz: of circular virtuous loop, but it makes sense from a business sense.
11:21
Ejaaz: And I think that that's how he might be trying to play it. It is a very smart
11:24
Ejaaz: business model. I like seeing NVIDIA expand beyond just making bleeding edge
11:29
Ejaaz: GPUs. He's like a very smart businessman, obviously.
11:31
Josh: And Jensen, we trust, man. The dude, he's got to figure it out.
11:34
Josh: He's been projecting these crazy revenue numbers for years now.
11:37
Josh: And he just like happens to be right every time so at some point you got to
11:40
Josh: trust the guy that's been doing this for 33 years and say like all right maybe
11:43
Josh: he knows he's talking about here we have some other stuff yeah this is very important
11:47
Josh: We were right first of all we recorded an episode got published yesterday if
11:50
Josh: you're listening to this we promise you a follow-up here's the follow-up there's
11:53
Josh: a mystery model that gave 100 trillion tokens of availability out to the public
11:58
Josh: totally for free they said here come and use it do whatever you want with it
12:01
Josh: it's all on us for a full week
12:03
Josh: We're not going to tell you who it is, though. We discovered yesterday who it
12:05
Josh: was, and it is Z.ai. It's the people that brought you GLM.
12:09
Josh: And it's their new model, 5.3 Flash. This looks like a normal model.
12:13
Josh: This is all fine. Until I was reading through this, I realized that all of those
12:17
Josh: tens to hundreds of trillions of tokens that were generated were not only generated
12:21
Josh: for free, but they were generated entirely on a chip cluster that runs on Chinese silicon,
12:28
Josh: which is a first of its kind.
12:30
Josh: I don't think we've ever had an instance in which Chinese silicon has produced
12:34
Josh: this amount of tokens and this amount of intelligence. Exactly.
12:38
Josh: As the benchmarks come out, we've started to discover that it's about opus tier
12:41
Josh: agentic level, which is very good. This isn't Frontier, but it's 15 cents per million tokens.
12:48
Josh: And it understands video, audio, and text. So this is a really impressive model out of China.
12:54
Josh: And on the back of our Robot Olympics episode, EJs, that we just recorded talking
12:58
Josh: about how dominant the robots are, now I'm seeing that they are actually getting
13:02
Josh: silicon to work at scale with pretty quick inference and a lot of it.
13:05
Josh: Like, I'm like, oh, wow. OK, China's like they're making moves this week.
13:09
Ejaaz: Yeah, it's concerning a little bit. And I'll tell you why.
13:12
Ejaaz: Recently, America, at least for the last like four months, has imposed export
13:16
Ejaaz: bans on China, meaning that they
13:18
Ejaaz: don't allow NVIDIA to sell chips to China, which, by the way,
13:22
Ejaaz: just to kind of reference the quarterly earnings from NVIDIA,
13:24
Ejaaz: all that money was made by not even selling a single chip to China.
13:27
Ejaaz: Very impressive because China was like, you know, a major profit revenue holder.
13:31
Ejaaz: But anyway, for the Chinese Silicon, right?
13:34
Ejaaz: They're like looking at this, they're looking at this export band.
13:36
Ejaaz: They're like, damn, we can't train Frontier models without NVIDIA chips.
13:40
Ejaaz: I guess we need to build our own. And whilst they haven't built a good enough
13:45
Ejaaz: chip that can be used to train their own AI models, they still use various different
13:49
Ejaaz: techniques to kind of circumvent that, such as distillation.
13:52
Ejaaz: They can build an amazing chip to inference the model, which by the way,
13:57
Ejaaz: is where all the money is going to be made in AI by a vast order of magnitude versus pre-training.
14:04
Ejaaz: When you look at the Chinese chip companies about six months ago,
14:07
Ejaaz: they were two and a half years behind.
14:09
Ejaaz: So can someone please explain to me how six months later, they're now here running
14:15
Ejaaz: the top stack of one of the top open source models, which happens to compete
14:19
Ejaaz: very well with US frontier models purely on Chinese silicon.
14:22
Ejaaz: Now, if you're wondering, who's the company that built these AI chips?
14:25
Ejaaz: Look no further than Huawei. They released a bunch of different things.
14:29
Ejaaz: I think it's called, actually i'm not going to try and make this up because i can't,
14:33
Ejaaz: uh remember the name of the exact chip but the cluster became live or got announced about a month ago
14:39
Ejaaz: and now it's at full scale production now partly they're being forced to use
14:44
Ejaaz: these chips because the chinese state government has mandated them to just not
14:47
Ejaaz: rely on invidia chips for anything and they replied and said we can't do it
14:50
Ejaaz: for training but we can do it for inference so let us do it
14:53
Ejaaz: and this is the first real example and i don't know if you
14:56
Ejaaz: used uh the model when it was in the aux alpha
14:59
Ejaaz: stage um but okay so you you saw like it was pretty good right
15:02
Ejaaz: but you would get a response really quickly it was super cheap didn't cost you
15:05
Ejaaz: anything and so it functions very similarly to an nvidia inference stack and
15:09
Ejaaz: yeah it is scary man like what happens when they
15:12
Ejaaz: own the chip infrastructure layer and the robotics hardware manufacturing layer
15:16
Ejaaz: like what else is left it's just they're.
15:18
Josh: Making a lot of progress in a way that's like definitely a little unnerving
15:21
Josh: i'm like okay this is this is new
15:23
Josh: and i mean this is kind of the expectation right is you like i know huawei is
15:26
Josh: banned in the united states a lot of the devices you can't really get them they're
15:29
Josh: not sold anywhere the inverse is happening and what does a country do that doesn't
15:33
Josh: have access to chips well they have to go and build their own
15:35
Josh: and now they're going to continue to build their own and scale them and
15:38
Josh: It's going to be really interesting to see how this plays out.
15:41
Josh: They are not the only ones building chips, though, because we have a new company
15:44
Josh: that's building chips. And this one I'm far more excited about.
15:46
Ejaaz: Something good about Google. Look at this beauty. Is that what you're telling me? Is this Waymo?
15:50
Josh: Yes. Waymo is looking good, man. So Waymo has this new vehicle, first of all. Oh, hi.
15:54
Josh: And then even more importantly, they have a new chip architecture that they're
15:57
Josh: introducing into this new vehicle design.
16:00
Josh: And it seems like it's a fairly large improvement. I know you were going through
16:03
Josh: the blog post, so maybe you could walk us through. But my understanding is that
16:06
Josh: Waymo is about to get a serious upgrade.
16:08
Josh: And not in the sense that it's going to cost less because these cars i think
16:11
Josh: the number was like 260 000 per jaguar waymo like it's still very expensive
16:15
Josh: but the chip that handles it
16:17
Josh: is now 20 times more powerful than it was over the last eight years and that
16:21
Josh: seems to make a meaningful difference in terms of the quality of your ride that
16:24
Josh: you can actually go out and get today
16:25
Josh: if you live in one of the areas you can go and ride away more fully autonomously
16:28
Josh: i've done it you just i think you've done it um incredible company that has
16:31
Josh: a really meaningful upgrade to the hardware today
16:34
Ejaaz: So a few things with this new chip that they just created.
16:39
Ejaaz: In prior Waymo generations, so in prior vehicles, because they have like so
16:43
Ejaaz: many sensors, how many are there? Like 15 to 20 sensors? It's like cameras, proximity sensors.
16:49
Josh: A lot of bulky ones, man. It looks crazy.
16:51
Ejaaz: Sorry, I have to say it. I respect Google a lot. One of the ugliest autonomous
16:55
Ejaaz: cars out there. The new ones are cool.
16:56
Ejaaz: The new ones are cool, but mainly they've been horrific. The point is
17:00
Ejaaz: the car has to ingest a lot of data translate that data into some kind of an
17:06
Ejaaz: action, which is steer right, steer left, break, you know, get this person safely
17:11
Ejaaz: from A to B as quickly as you can.
17:13
Ejaaz: Now, in order to process all that information, you need a really powerful AI chip.
17:18
Ejaaz: Waymo didn't have that. So they kind of used a hybrid of like a chip and a cloud
17:24
Ejaaz: service. Now, that's kind of dangerous because what if the cloud service kind of breaks connection?
17:29
Ejaaz: You end up being in a whole pot of mess.
17:32
Ejaaz: Now with this new chip it brings all the compute on board the actual device
17:38
Ejaaz: the device in this case being a car which i think is really cool so the entire
17:41
Ejaaz: system josh is being run locally on device
17:45
Ejaaz: in the single car so when in the trunk.
17:47
Josh: Of the car i love that visual that they show exactly yeah
17:49
Ejaaz: Wait let me let me get the the visual up yeah that's.
17:52
Josh: Why they are showing the trunk if it wasn't clear for the last one it's like
17:54
Josh: yeah all of that compute lives sitting underneath the trunk there.
17:58
Josh: It's so, so cool. Pretty cool. Yeah. Yeah.
18:00
Ejaaz: And it's a single chip or a cluster of these different chips.
18:03
Ejaaz: And so it takes the input data from the sensors.
18:06
Ejaaz: It processes everything through this one chip, which by the way,
18:10
Ejaaz: is 20X more powerful and is 5X cheaper.
18:14
Ejaaz: They lessen the cost. So do you remember in our last Waymo episode,
18:17
Ejaaz: Josh, we were like, why do each of these cars cost like 100K?
18:21
Ejaaz: It's because like more 260 or 280. Oh my God.
18:25
Ejaaz: 260K. Yes. Now it costs cost $25,000 a car to pop out because they were able
18:31
Ejaaz: to create the silicon chip and reduce the cost down and run everything lower.
18:34
Josh: Is that real? This new car costs $25,000?
18:35
Ejaaz: Dude, look at this. Wait one second. Where's the breaking news? Yeah, over here.
18:39
Ejaaz: So it used to cost $100,000 to $125,000. Come to the street at Wall Street.
18:44
Josh: Okay, this is an important distinction we
18:46
Ejaaz: Need to make. Talk to me. Talk to me. Is this Miss Info? Tell me. Tell me. No, no, no.
18:49
Josh: So this is for the hardware. This is not for the vehicle. Okay,
18:54
Josh: that's where I was getting confused.
18:55
Josh: So the hardware part is like the sensor suite that sits on top of the vehicle.
19:01
Josh: So I guess it was like $125,000 for the last one on top of a $100,000 vehicle.
19:05
Josh: This one's $25,000 on top of an assumed lower cost vehicle. So that's an important distinction.
19:10
Ejaaz: Yeah, yeah, sorry, sorry. Just to be clear, we're talking about the chip hardware
19:14
Ejaaz: here, like all of that, which kind of like, you know, makes the car sexy and
19:17
Ejaaz: do the cool thing, right?
19:19
Ejaaz: And so the point is, with this new chip,
19:22
Ejaaz: been able to achieve a few things. Number one, it runs locally on the car,
19:26
Ejaaz: which means it's cheaper to run.
19:28
Ejaaz: It's way more effective. So it's quicker. It's way more reliable.
19:31
Ejaaz: And it's incredibly efficient. So it costs Google less. It costs Waymo less,
19:36
Ejaaz: which is why they've been able to kind of reduce the cost by like three to four
19:41
Ejaaz: X, which is very impressive for any successive generation.
19:43
Ejaaz: I just think it's a really cool bit of hardware device. You know,
19:45
Ejaaz: we like hardware on this show. And I'm happy Waymo's taking this path forward.
19:49
Josh: Very good. It looks cool it looks like a fun science experiment like the car
19:51
Josh: itself looks interesting the new ohi it's
19:54
Josh: fun it's different it looks like disney world this is a really cool promo video
19:57
Josh: showing it oh my god wow yeah it's it's like a unique design i mean granted
20:02
Josh: if you were to design a fully autonomous car i'm not sure why there's two seats
20:05
Josh: still facing forward in the way they are with the steering wheel
20:07
Ejaaz: Hang on wait did he turn around in this let's see josh.
20:10
Josh: I'm not sure oh no no he's he's turning his body around so we mentioned the
20:15
Josh: cost of these sensors is it's about 25 000 for the suite, the hardware, the sensors.
20:20
Josh: You know what else is $25,000 each as?
20:22
Josh: The entire CyberCab from Tesla, the whole thing, including the vehicle. It will be $25,000.
20:28
Ejaaz: $25,000 per vehicle?
20:30
Josh: Per vehicle, with the whole sensor stack. So what you'll notice with the Waymos
20:33
Josh: is they have this huge amount of spinning LiDAR sensors and very complicated sensor stack.
20:39
Josh: The Robotaxi that we're seeing on screen here, the CyberCab from Tesla,
20:42
Josh: has, I think it's eight cameras, very similar to the ones that are sitting in
20:46
Josh: your smartphone right now.
20:47
Josh: So basically, if you imagine the camera's on your smartphone,
20:50
Josh: they are placed into a vehicle and put in the right place.
20:53
Josh: That combined with the cost of the actual vehicle is...
20:57
Josh: Probably going to fall around $25,000 in terms of cost of goods sold.
21:00
Josh: And it works. And it is being deployed starting September 3rd at scale.
21:04
Josh: So what we see here is actual production ready level cybercabs that are going
21:09
Josh: to be going around a select few cities.
21:10
Josh: In the announcement post, could we pull that up so I can read it off?
21:13
Josh: I'm not sure exactly which ones is going. I know there is one in Austin.
21:17
Josh: I know there's one in Dallas. So yeah, Austin, Dallas, Houston, Miami, Orlando, Tampa.
21:22
Josh: If you live in any of those places, you can go and get in a cybercab right now.
21:26
Josh: And I think this is going to be a really unique and interesting inflection point
21:30
Josh: for the autonomous vehicle world
21:33
Josh: in general, because we have Waymo that's making really good progress.
21:36
Josh: And Waymo is right now much more accessible. They're doing many more miles per day.
21:40
Josh: And people have gotten comfortable with it. If you live in Los Angeles,
21:42
Josh: if you live in San Francisco, having Waymos go around, it's just a part of your
21:46
Josh: life. And you don't even think twice about it now.
21:49
Josh: The CyberCab has an opportunity to really change that in the sense that the
21:52
Josh: cost per mile on the cyber cab will be significantly less than that of the waymo
21:55
Josh: when you look at the waymo vehicle it has like these big bumpers that's really
21:58
Josh: big and it's not a very efficient car
22:00
Josh: the cyber cab has much more efficiency which allows it to decrease the cost
22:04
Josh: per mile and it's going to be really interesting to see how they're able to scale that because
22:08
Josh: Waymos notoriously are geofenced they work in very specific locations i've been
22:12
Josh: using a tesla fully self-driving for years now and
22:15
Josh: with no oversight they work anywhere so as soon as regulation comes online We
22:18
Josh: may see a world in which like 12 months from now, cybercabs are just roaming around everywhere.
22:23
Josh: And we have the opportunity to get in them, drive them around.
22:25
Josh: And the idea is that you'll never need to own a car because the cost per mile
22:29
Josh: will be so low that it will offset any expenses incurred by actually buying
22:33
Josh: the physical vehicle. So really cool time.
22:36
Josh: For autonomous vehicles, autonomous cars in general. Keep an eye out for Wemo.
22:39
Josh: Keep an eye out for the Tesla event that's happening next week.
22:41
Ejaaz: You know where I'm not going to be keeping my eye out? In New York City.
22:44
Josh: Because they like to just ban all innovation.
22:47
Ejaaz: New York City sucks, man.
22:48
Josh: It sucks, man.
22:49
Ejaaz: It's so brutal. It's so cool, but it sucks. Like, bring us the new tech early
22:53
Ejaaz: on, for goodness sake, please.
22:55
Ejaaz: Now, I want to have a call out just very quickly on this particular topic, Josh.
22:59
Ejaaz: Producer Luke, we love him. He is in one of these places. He's in Austin.
23:03
Ejaaz: Guess how many times he's rode in a robo-taxi? Go on, guess.
23:06
Josh: Well, I think once, maybe.
23:08
Ejaaz: I think it's zero, dude. I think it's zero.
23:10
Josh: He may have done one, but it wasn't a cyber cab.
23:12
Ejaaz: I don't trust it. That image was AI generated. I need to see you, Luke.
23:17
Ejaaz: I know you'll listen to this because you're editing this right now.
23:19
Ejaaz: Like, I need to see you in a cyber cab, dude. It would be awesome.
23:22
Josh: Anyway, moving on. We'll get a fact checker in here.
23:24
Ejaaz: Who is our favorite investor in the world, Josh?
23:26
Josh: Oh, you mean the 25-year-old who was fired by OpenAI, raised a billion dollars
23:30
Josh: and then had 45 and then lost it all and then Citadel bought it all out and
23:33
Josh: now he's being investigated by the SEC?
23:35
Ejaaz: Wow, actually a very good, succinct summary. That's a very ChatGPT-esque,
23:39
Ejaaz: Josh. Very impressive. Yes, that is actually it. That guy.
23:42
Josh: Wait, but what's his name again?
23:44
Ejaaz: Yeah, Leopold Ashenbrenner.
23:45
Josh: Oh, yeah, that one, that one, Leopold. Yeah, yeah, that's right.
23:47
Ejaaz: Okay, listen, like my hands are up for those of you who are about to like write nasty comments, right?
23:53
Ejaaz: We love Leopold Ashenbrenner. I still think his thesis isn't intact.
23:56
Ejaaz: He just, you know, don't trade with leverage, kids.
23:59
Ejaaz: But he is now being investigated by the SEC or rather specifically,
24:04
Ejaaz: the SEC has subpoenaed a bunch of banks which facilitated situational awareness
24:09
Ejaaz: funds, which is Liverpool's fund, trades out of suspicion that potentially the,
24:15
Ejaaz: there was insider trading. Now, this is something that we have kind of briefly
24:18
Ejaaz: referenced and spoken about on the show.
24:21
Ejaaz: Ajit Balwit, who is now officially Leopold Ashenbrenner's wife,
24:25
Ejaaz: is the chief of staff at Anthropik.
24:26
Ejaaz: And there's a few other types of things going on there. But effectively,
24:29
Ejaaz: the question is, has Leopold been kind of getting information and trading on
24:33
Ejaaz: that information when he should have kind of like publicly disclosed it? We don't know.
24:37
Ejaaz: But this is just another kind of pitfall into this whole,
24:41
Ejaaz: probe where, you know, Leopold's been taking hits, hit after hit recently
24:45
Ejaaz: um he recently got back into the game actually he's like gotten a new open book
24:48
Ejaaz: he made a 400 million dollar private investment in some other company goodness
24:51
Ejaaz: knows where he got 400 million dollars from but he's doing the thing and technically
24:55
Ejaaz: the fund is still up but yeah just curious to see why this all ends up i don't
24:58
Ejaaz: know if you have any thoughts on this josh.
25:00
Josh: Yeah it's mostly just like people don't like leopold and what does it take to
25:03
Josh: open an investigation you file a complaint someone says okay we've acknowledged
25:06
Josh: your complaint now there's an open investigation and then you can report the investigation
25:10
Josh: it could be nothing it could be something chances are it's probably nothing
25:14
Josh: and i think leopold's just down people want him to be down even more and chances
25:19
Josh: are he's going to be just fine this will kind of blow boat over and there won't
25:22
Josh: really be much that comes from it
25:24
Josh: um in leopold we trust man i'm still rooting for the guy i'm excited to see
25:27
Josh: the new 13f to see what on earth is going to be
25:30
Josh: on the comeback portfolio after the entire public one got wiped out so
25:34
Josh: we'll keep our eyes peeled as we always do on leopold I'm also seeing some charts
25:38
Josh: here, EJS, on Fable 5 and Anthropic and like enterprise sales and businesses.
25:44
Josh: What is what are we showing here?
25:46
Ejaaz: I just think there's some chartsmithing going on here. So like a few things
25:51
Ejaaz: going on here. So the Financial Times released a chart and it shows the usage
25:55
Ejaaz: of Anthropic's different models over time.
25:59
Ejaaz: And I don't know if I can open this up, Josh. I don't know if this makes it
26:02
Ejaaz: makes it a little tricky for you.
26:03
Josh: We'll move it. We'll move it. There we go.
26:06
Ejaaz: But if you can have a look over here, you'll notice that Fable growth kind of
26:10
Ejaaz: like accelerated in mid-June to the kind of the end of July and has kind of been flat.
26:15
Ejaaz: Now, number one, I don't know where they've got these numbers from because Anthropik
26:18
Ejaaz: is not a private company, so I don't think these are necessarily reliable.
26:22
Ejaaz: But the point they're making is it has stagnated.
26:25
Ejaaz: And instead, people or companies rather are choosing to use some of their other
26:29
Ejaaz: clawed models. Now, there are many reasons why companies would do this,
26:32
Ejaaz: whether it's cost, whether it's efficiency, whether it's just kind of like preference
26:35
Ejaaz: or taste of like the model's personality.
26:37
Ejaaz: But it's interesting to see that a frontier model isn't being taken up as much as they can.
26:41
Ejaaz: And the point that they compared this to is that OpenAI's models have seen increased usage.
26:46
Ejaaz: Now, my comments on this is simple, which is OpenAI is just like has a smaller
26:51
Ejaaz: user base than Anthropik.
26:52
Ejaaz: Now, it's still granted very large, but obviously any hike in usage,
26:56
Ejaaz: which they're particularly seen with Codex specifically, which,
26:59
Ejaaz: by the way, is a fantastic product, is going to result in a larger uptake or
27:03
Ejaaz: percentage increase, right?
27:04
Ejaaz: Whereas with Fable, maybe if the stagnation is the thing, maybe people are just,
27:08
Ejaaz: you know, factoring in the cost.
27:09
Ejaaz: Fable is notably, you know, more expensive than a lot of other models,
27:12
Ejaaz: but it is also operating at the frontier better than any other model.
27:15
Ejaaz: So I can see why maybe there's a hesitancy, you know, you've got all these new
27:19
Ejaaz: open source models, GLM 5.3 Flash, and you're thinking, okay,
27:22
Ejaaz: maybe if I can get 80% of my work done using a cheap model, I'll use Fable for
27:26
Ejaaz: the other 20%. But the point is, the pie is growing bigger and bigger. And I think this is,
27:30
Ejaaz: None other than a bit of a hit piece.
27:32
Josh: Well, it looks like the chart is reflecting the pie growing bigger,
27:34
Josh: right? It's like the numbers are going up into the right.
27:36
Josh: The business spending in total based on this chart looks like it's going up.
27:41
Josh: And maybe this is kind of the phenomenon that we described earlier where there's
27:44
Josh: just a lot of demand for lower cost tokens, but the overall demand is continuing
27:48
Josh: to increase. And like perhaps that is a conclusion we can draw from this.
27:52
Josh: I'm confused what the other actually is. Like, are they talking about like Haiku
27:56
Josh: or something? Because they have Sonnet, Opus, Fable. What else is there?
27:59
Ejaaz: I'm not quite.
28:00
Josh: Sure what's going on here i don't know but hey everyone's having i mean the
28:04
Josh: models are great on a day-to-day basis i'm still using it i'm getting a lot
28:07
Josh: of usage out of it and i'm kind of enjoying the time there
28:09
Josh: so it's um yeah we'll see i think is kind of like where where we can leave this
28:14
Josh: one is like okay well i'm i'm
28:17
Josh: sorry for enterprises but like hey we're cooking like for twenty dollars a month
28:21
Josh: a hundred dollars a month two hundred dollars a month like the tokens are flowing
28:24
Ejaaz: I think there's a there's another reason though right which is like did you
28:27
Ejaaz: see this whole debate around zero data retention.
28:30
Ejaaz: I started yawning when I read that phrase, Josh, because I was like,
28:32
Ejaaz: oh my God, what do you mean by this?
28:33
Josh: But like, yeah, oh, sounds fun.
28:35
Ejaaz: And another big thing for these enterprises is they want to use the latest frontier
28:40
Ejaaz: models. And to be honest, when you're an enterprise, you don't care about spending
28:43
Ejaaz: more money if it means you're going to make even more money.
28:45
Ejaaz: So like, I'll spend money on the most expensive model.
28:48
Ejaaz: But a big compliance thing that they face is this thing called zero data retention, where
28:52
Ejaaz: if you have a company, a software company, which you kind of lease their tools
28:57
Ejaaz: or whatever, and they retain proprietary information for their own usage,
29:01
Ejaaz: which they could technically use to build better models, which is what Anthropik has to do right now.
29:05
Ejaaz: But I believe they're in the process of evolving that potentially.
29:08
Ejaaz: Who knows? This is just rumors at this point.
29:10
Ejaaz: I believe this is something that will just kind of flip that switch and suddenly
29:14
Ejaaz: we'll look back on that chart and suddenly it's spiked up growth.
29:16
Ejaaz: So I just think this is a nothing burger. ZDR is very common.
29:20
Ejaaz: I don't think OpenAI is enforcing it right now, which might,
29:23
Ejaaz: be the reason why they're like accelerating faster over the last couple of months
29:26
Ejaaz: but just something to be aware of.
29:28
Josh: Okay so maybe the chart is nothing burger but the thing that is real is the
29:31
Josh: use of tokens and the use of tokens are generated mostly by agents and if you
29:34
Josh: are working with agents we have just the people for you their name is ledger
29:38
Josh: ledger is offering a way to build with your ai agents because if you're worried
29:42
Josh: about security you should be because agents as we know are
29:45
Josh: not very secure at the moment they're getting very smart very quickly ledger
29:49
Josh: has an agent stack that fixes this it's a series of open source tools that you
29:52
Josh: can go and use in order to make sure that the agent
29:55
Josh: is giving you the expected outcome that you want.
29:57
Josh: It does this through a three-step process where the agents propose,
30:00
Josh: the humans approve, and the ledger signers enforce. And this is all open source.
30:04
Josh: It works everywhere that you work with your AI agents. It works in codex,
30:07
Josh: it works in cloud code, it works in cursor.
30:09
Josh: So if you are interested, the link is in the description down below.
30:12
Josh: Thank you very much to Ledger for sponsoring this episode.
30:14
Josh: Two nothing burgers in a row. We got to turn this around, man.
30:16
Josh: Leopold, Anthropic, what do we got? This is not a nothing burger.
30:19
Josh: This is a something burger.
30:20
Ejaaz: What if I gave you continual learning robotics model, huh?
30:23
Josh: Dude, it's a big week for the robots. First, we had the Robot Olympics.
30:26
Josh: Then we have full self-driving vehicles. Now we have robotic learning.
30:30
Josh: And this is one of many announcements that I saw this week. There was another
30:32
Josh: one that I thought was super cool where you can actually go and get paid like
30:35
Josh: $15 an hour to perform tasks in your house.
30:38
Josh: And as long as you do that with the camera, that allows you to train the robots.
30:41
Josh: You will be paid as if you are a full-time employee.
30:44
Josh: It's like kind of cool, very fun. This is another version of that,
30:47
Josh: it seems like, where they're just...
30:50
Josh: Basically throwing a ton of data at these models and emerging from that data are
30:56
Josh: physical capabilities that robots are learning from scratch and they're doing
30:59
Josh: so in a way that's fairly efficient what i like about this example that we're
31:02
Josh: seeing on screen right now too is it's not this isn't purely humanoid this is
31:06
Josh: more of a narrow purpose uh narrow
31:09
Josh: very specific type of robot that they're working on so it seems like this is
31:12
Josh: a kind of new paradigm where robots are getting enough data to start meaningfully
31:17
Josh: progress and get good at these tasks.
31:19
Josh: And we're seeing so many unique and creative ways of collecting this data. I remember we did one
31:24
Josh: doordash or something where they were paying dashers to strap cameras to their heads
31:28
Ejaaz: It was doordash.
31:29
Josh: It was doordash that way they can like go and collect data for what it looks
31:31
Josh: like to deliver an item to a person's house and then taking all that data you get the antik
31:36
Ejaaz: The pokemon go company.
31:37
Josh: As well that's right that's right yeah so there's all these really creative ways of of
31:42
Josh: paying humans to collect data to then automate the tasks that they're doing
31:46
Josh: and i think it's really cool to see the actual progress come from this in terms
31:49
Josh: of the ability of these robots to do more and more interesting tasks that we
31:53
Josh: as humans do and maybe we don't want to
31:56
Josh: and i think a lot of people probably default to like oh this is bad we're paying human beings to
32:00
Josh: offload the responsibilities to robots but the reality is is like how many people actually
32:04
Josh: love doing this stuff like how many people love to clean or love to cook or
32:07
Josh: love to take the trash out or love to like deliver food
32:10
Josh: there's perhaps much better options on the other side of automating that and
32:14
Josh: it results in much lower costs for everyone who is using those services so this
32:18
Josh: seems like a win, even though on the surface, I could see why it's scary.
32:21
Josh: And this is a really cool example of that in practice. I mean,
32:24
Josh: this is a pretty sweet video.
32:25
Ejaaz: Yeah, I mean, just to kind of explain what's going on here, they made a breakthrough
32:29
Ejaaz: in robotics models. Now, typically, the problem that you have with robotics
32:33
Ejaaz: models is they're really hard to train in order to get the data to teach it
32:36
Ejaaz: how to do really complex stuff.
32:38
Ejaaz: You need to, you know, get those videos like you mentioned, Josh,
32:41
Ejaaz: and you need to kind of like teach it a million different things that hard code it into a model.
32:44
Ejaaz: It is incredibly complex and hard to do, which is why we haven't seen a cool
32:49
Ejaaz: robot in your house as of recently.
32:51
Ejaaz: The breakthrough these guys made is something called in-context learning,
32:54
Ejaaz: which means you can feed this robot one video of you making pancakes and flipping the pancake,
33:02
Ejaaz: and it'll be able to figure it out from that 30-second video and do it itself.
33:07
Ejaaz: But the craziest part is, Josh, let's say.
33:10
Ejaaz: I filmed you making a pancake and you flipped it and it fell on the floor,
33:14
Ejaaz: right? The robot's seen this, right? So presumably you would think it would do the same.
33:19
Ejaaz: It doesn't do that. It knows when you've made a mistake and it can take it further
33:23
Ejaaz: and start making multiple pancakes at the same time and then stacking them on
33:27
Ejaaz: top of each other. It has this intuitive feel.
33:30
Ejaaz: So an example that they show in this video here, I think they already passed
33:33
Ejaaz: it, is it uses a kind of dustpan and brush to kind of sweep a block onto the pan, right?
33:38
Ejaaz: And then they replaced the handle with a banana.
33:42
Ejaaz: And it was like, what would it do in this case? It realized that it was a banana.
33:45
Ejaaz: It realized it wasn't a brush, but it still did the same thing and brushed the block onto the pad.
33:50
Ejaaz: So it has a intuitive understanding of what it needs to do and is willing to
33:54
Ejaaz: use any and every kind of tool to do the thing, which is the breakthrough in this robotics model.
34:00
Ejaaz: And I think it's going to get us much quicker to having a robot in our home
34:03
Ejaaz: that can intuitively just do things without us needing to hard code it or tell it what to do.
34:08
Josh: Very very so close on the edge of the robot revolution is a good way of describing
34:13
Josh: it we had the olympic games that we had a full episode about earlier this week
34:17
Josh: so if you haven't watched that go check that out um
34:19
Josh: the opening ceremony is a little bit militant for china which is scary so
34:24
Josh: perhaps like you know take that one with a grain of salt um we have a few rapid
34:28
Josh: fire ones at the end of this episode my personal favorite here we have a date
34:32
Josh: for the apple event It's coming. It is September 9th at 1 p.m.
34:34
Ejaaz: Eastern time. Is this Siri AI, Josh?
34:36
Josh: Dude, we are finally... No.
34:40
Josh: It's not going to happen just yet, but basically what this one is,
34:42
Josh: is the hardware. So there's two types of events. There's the developer conference,
34:45
Josh: then there's the actual hardware event.
34:46
Josh: Developer conference released or unveiled Siri. The release of Siri will come
34:50
Josh: shortly after this hardware event, and it will come paired with the new hardware devices.
34:54
Josh: The new hardware devices are expected to be a new iPhone 18 Pro,
34:58
Josh: a foldable device, which I'm incredibly excited to get my hands on.
35:02
Josh: And more importantly, this is the first event with Apple's new CEO in charge.
35:07
Josh: Tim Cook isn't going to be on stage here. it's uh john turness who's running
35:10
Josh: it there's a new guy in charge he's a hardware guy this is all the new hardware
35:13
Josh: we're going to be getting specifically built for
35:16
Josh: apple intelligence and man we've been waiting for this for what three years
35:19
Josh: to get actual intelligence inside these phones so very excited to see how that's
35:23
Josh: going to play out what the hardware is going to look like how the software will integrate with it
35:27
Josh: and probably a month from now we will all have brand new iphones with siri intelligence
35:33
Josh: inside of them and that is a very exciting thing so Oh, please. Fingers crossed.
35:36
Ejaaz: I mean, the chip thing is cool, right? I saw the M5 Pro and the M6 kind of get
35:41
Ejaaz: announced and the price points.
35:42
Josh: Of those are- New Mac Mini, New Mac Studio.
35:44
Ejaaz: Kind of up there, right? So it's like, I think it's like 900 bucks for the M6
35:47
Ejaaz: or, and then 1,500 for the M5.
35:50
Josh: Have you heard the high end of the studio?
35:52
Ejaaz: Gone. Wait, wait, wait, let me guess, let me guess, let me guess.
35:55
Josh: You're gonna be wrong.
35:56
Ejaaz: Three thousand dollars no.
35:58
Josh: I think it's like eighteen thousand five hundred dollars for them if you want
36:01
Josh: to maxed out mac studio with like the m6 ultra and all the ram that you can get it's okay
36:06
Ejaaz: Crazy i'm going into.
36:07
Josh: That things have gotten but hey if you got the money and you want to run some
36:10
Josh: local inference oh my god there's your cost of entry all these people talking about free models buy
36:13
Ejaaz: An nvidia gpu at this point dude like what are we doing.
36:16
Josh: Here that's crazy model that like just how about you just pay for like a subscription
36:19
Josh: or like an api key i'm like let the big guys serve your inference because it's
36:23
Josh: getting real expensive to do it locally by the Wait,
36:25
Ejaaz: Blame the memory manufacturers for this. That's why the price is hiking across everything right now.
36:30
Josh: And they got great margins too. I was looking at the videos and I'm like,
36:33
Josh: man, these people are charging way too much money for this. They're driving up all the prices.
36:37
Josh: Last topic. I thought this was really funny, EJ, as you put it in.
36:39
Ejaaz: It's like, I'm a watch guy. Yeah, so basically, breaking news,
36:44
Ejaaz: guys. Arguably the biggest topic of this entire episode.
36:47
Ejaaz: Sam Altman just ordered seven ultra rare custom Swiss watches from this company
36:52
Ejaaz: called Vanguard. are, I'm definitely butchering that name, with a branded OpenAI logo on the dial.
36:57
Ejaaz: No commentary, right? First, let's observe.
37:01
Ejaaz: Look at this masterpiece. For those who wear Apple Watches, I need you to just
37:05
Ejaaz: take that thing off your wrist for a second and just appreciate the mastery
37:09
Ejaaz: that is on your screen right now. This looks so cool.
37:12
Josh: Can we take a second? Because I just so happen to have an Apple Watch in my
37:14
Josh: hand. Please. It appears like the band on my Apple Watch looks oddly similar to the band on that
37:19
Ejaaz: Watch absolutely and that is because the memory component the equivalent of
37:24
Ejaaz: this is that complex cognitive function that is happening inside the thing who
37:30
Ejaaz: cares about the plastic strap you can literally you see this little attachment over how many.
37:33
Josh: Tokens per second does that generate
37:35
Ejaaz: Oh god not enough not enough but um inscribed on the back of each of these watches
37:40
Ejaaz: is if agi dot aligned deploy which was written by a programming language python dot Vanguard.
37:48
Ejaaz: So the point is, I think this is like, you know, Sam kind of like giving a peace
37:52
Ejaaz: offering before potential rumored.
37:54
Ejaaz: IPO that I think is coming very soon and he wants to give it to his ranking
37:58
Ejaaz: order of people that haven't left open air over the last two weeks.
38:03
Ejaaz: Sorry for the shade. I've just seen a lot of executives leave recently,
38:05
Ejaaz: but it's a beautiful watch.
38:08
Ejaaz: People have been discussing what the secondary value of this might be.
38:12
Ejaaz: And people are guesstimating this would be in the order of 500 K to a million
38:16
Ejaaz: dollars. I personally think it would be higher because there's only seven of them.
38:20
Ejaaz: And one of them will be worn by Sam's on Sam's wrist. So that's definitely not going to solve.
38:24
Josh: This is kind of like um what it like the push presence like when when your like
38:29
Josh: wife has a child it's like when your executives produce agi please
38:34
Ejaaz: Please turn off now thank you well.
38:36
Josh: This like i think this makes sense right it's like when your executives produce
38:39
Josh: agi like hey guys thanks like here's a million dollar watch type thing um because
38:42
Josh: i was listening to sam altman or i was reading the time publication of sam altman
38:46
Josh: and what he was saying and they fully expect to have agi internally by the end of this year
38:49
Josh: and for those that are not familiar we are about to enter september which means
38:53
Josh: we are close to the end of this year so maybe perhaps he's getting these custom
38:56
Josh: made in anticipation of their internal rollout of agi whatever they believe that to be
39:01
Josh: um so that's just an interesting thing worth noting worth following lovely watches
39:04
Josh: like hey the limitless guys i mean i'd take a half million dollar watches
39:07
Josh: i think i'd make shows a million whatever it's going to cost that'd be cool
39:10
Josh: but that's the round of this is a long one today we're like 40 minutes into
39:12
Josh: this thing um so if you made it this far man
39:15
Josh: Thanks for coming along with us on this journey. It's been a good one.
39:18
Josh: A lot of stuff happening this week.
39:20
Josh: The things are picking themselves up. The roundup's getting longer.
39:23
Josh: There's more stuff to talk about.
39:24
Josh: I'd say it's a big robotics week this week. A lot of robots.
39:27
Josh: A lot of China talk this week. Good week for the Chinese.
39:31
Josh: Whether it's good for us, we don't know TBD, but like good week for the Chinese.
39:34
Josh: Good week for NVIDIA and Jensen.
39:36
Ejaaz: Hey, it's good for Limitless as well. We're putting out so much content, so much to talk about.
39:41
Ejaaz: What was the other thing? That was like the open rail acquisition that might
39:44
Ejaaz: have been last week's news. Who knows?
39:45
Josh: Who's on track, man?
39:47
Ejaaz: We are covering anything and everything that is happening in AI and frontier
39:51
Ejaaz: tech or whatever just makes, you know, Josh and I pretty excited.
39:55
Ejaaz: And we're doing that four times a week. So if you haven't listened to any of
39:57
Ejaaz: our episodes this week, please check it out. We also have a newsletter that
40:01
Ejaaz: goes out to, I think it's like 110,000 of you that are reading our stuff every
40:05
Ejaaz: single week, twice a week.
40:07
Ejaaz: We do an essay and we also do the weekly roundup, which if you don't want to
40:11
Ejaaz: listen to our beautiful, soothing voices telling you about AI,
40:13
Ejaaz: you can just go read the quick summary digest we are covering you everywhere on spotify apple
40:19
Ejaaz: as well as youtube if you aren't subscribed if you haven't left us a comment
40:21
Ejaaz: if you haven't given us a rating what are you doing please do all of that,
40:25
Ejaaz: send it share it with a friend it helps us out massively josh have i forgotten anything.
40:29
Josh: I mean you can and i know this is kind of rough for me to say because i haven't
40:32
Josh: been posting much but on screen our our handles on x are showing and you can
40:36
Josh: go and follow us there for more information on the day-to-day you just i know
40:38
Josh: you're always firing off stuff about updates so that's just like a fun little
40:42
Josh: call out if you've made it this far.
40:44
Josh: And, you know, you're interested in hearing a little bit more.
40:46
Josh: I'll work to post more on that platform.
40:48
Josh: But that's it. Like you can go feel free to like you're dismissed.
40:51
Josh: Go touch grass. Go enjoy the weekend.
40:53
Josh: Get off your phone for a little bit. You're now fully up to date and all of
40:55
Josh: the things. AI frontier technology.
40:57
Josh: You're in the loop. You can go out to your like weekend barbecue.
41:00
Josh: I mean, close to the end of the weekend. We're almost we're almost there.
41:03
Josh: I don't want to think about that.
41:04
Josh: But yeah, that's pretty much everything. Thank you so much. I mean,
41:06
Josh: share with your friends if you if you got some that would be interested. And yeah, enjoy.