WEBVTT

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<v Cassidy>Two <00:00:00.267>of <00:00:00.340>the <00:00:00.440>biggest <00:00:00.800>labs <00:00:01.147>in <00:00:01.220>the <00:00:01.347>world <00:00:01.696>went <00:00:01.813>shopping <00:00:02.260>for <00:00:02.380>electricity <00:00:03.067>on <00:00:03.160>the <00:00:03.328>same <00:00:03.600>day — <00:00:04.360>and <00:00:04.520>one <00:00:04.693>of <00:00:04.832>them <00:00:04.994>bought <00:00:05.240>a <00:00:05.320>piece <00:00:05.547>of <00:00:05.640>its <00:00:05.800>own <00:00:05.968>chip <00:00:06.222>supplier

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<v Cassidy>while <00:00:06.907>it <00:00:07.000>was <00:00:07.187>there. <00:00:09.088>This <00:00:09.360>is <00:00:09.540>the <00:00:09.733>AI <00:00:10.053>Daily <00:00:10.373>Briefing.

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<v Cassidy>Today: <00:00:12.160>OpenAI <00:00:12.853>in <00:00:13.020>Georgia, <00:00:13.888>Anthropic <00:00:14.620>tangled <00:00:15.093>up <00:00:15.216>with <00:00:15.460>AMD, <00:00:16.200>and <00:00:16.580>the <00:00:16.700>one <00:00:16.947>story <00:00:17.307>on <00:00:17.380>the <00:00:17.507>board <00:00:17.872>that <00:00:18.080>isn't <00:00:18.460>about <00:00:18.606>buying <00:00:18.930>compute <00:00:19.307>at <00:00:19.460>all.

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<v Bill>Follow <00:00:21.000>the <00:00:21.184>show <00:00:21.480>and <00:00:21.620>the <00:00:21.760>next <00:00:22.142>briefing <00:00:22.707>lands <00:00:23.093>in <00:00:23.232>your <00:00:23.456>feed <00:00:23.973>on <00:00:24.300>its <00:00:24.580>own.

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<v Cassidy>Quartz, <00:00:26.232>with <00:00:26.504>Cris <00:00:26.804>Tolomia:

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<v Quote>OpenAI <00:00:28.493>announced <00:00:28.920>plans <00:00:29.301>Wednesday <00:00:29.786>to <00:00:29.920>build <00:00:30.093>a <00:00:30.197>data <00:00:30.476>center <00:00:30.682>campus <00:00:31.120>in <00:00:31.233>Effingham <00:00:31.710>County

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<v Quote>Georgia <00:00:32.809>committing <00:00:33.253>$20 <00:00:33.583>billion <00:00:34.240>to <00:00:34.333>the <00:00:34.503>project <00:00:34.986>in <00:00:35.280>order <00:00:35.466>to <00:00:35.643>qualify <00:00:36.173>for <00:00:36.333>a <00:00:36.413>local <00:00:36.653>incentive <00:00:37.073>package.

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<v Quote>The <00:00:38.506>facility <00:00:39.146>named <00:00:39.473>Project <00:00:39.973>Camellia

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<v Quote>is <00:00:40.993>located <00:00:41.447>within <00:00:41.673>the <00:00:41.777>Savannah <00:00:42.193>Gateway <00:00:42.664>Industrial <00:00:43.233>Hub

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<v Quote>about <00:00:44.053>45 <00:00:44.573>minutes <00:00:44.903>outside <00:00:45.280>of <00:00:45.377>Savannah

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<v Quote>and <00:00:46.240>would <00:00:46.400>be <00:00:46.493>the <00:00:46.653>first <00:00:46.917>data <00:00:47.219>center <00:00:47.525>that <00:00:47.717>OpenAI <00:00:48.266>is <00:00:48.429>designing <00:00:48.953>and <00:00:49.057>building <00:00:49.482>itself.

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<v Cassidy>OpenAI's <00:00:51.096>putting <00:00:51.416>$20 <00:00:51.806>billion <00:00:52.624>into <00:00:52.856>a <00:00:52.953>campus <00:00:53.346>outside <00:00:53.776>Savannah — <00:00:54.936>Project <00:00:55.276>Camellia

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<v Cassidy>with <00:00:56.496>3.2 <00:00:57.176>gigawatts <00:00:57.754>contracted <00:00:58.372>straight <00:00:58.688>from <00:00:58.856>Georgia <00:00:59.243>Power <00:00:59.896>and <00:01:00.296>a <00:01:00.405>phased <00:01:00.883>build <00:01:01.248>from <00:01:01.456>2028 <00:01:02.549>to <00:01:02.896>2032.

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<v Cassidy>Read <00:01:04.676>the <00:01:04.800>fine <00:01:05.136>print: <00:01:05.883>it's <00:01:06.376>a <00:01:06.496>25-year <00:01:07.184>agreement <00:01:07.648>with <00:01:07.829>up <00:01:07.989>to <00:01:08.176>a <00:01:08.300>thousand <00:01:08.696>megawatts <00:01:09.269>of <00:01:09.422>demand <00:01:09.776>response.

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<v Cassidy>That <00:01:11.264>goes <00:01:11.536>way <00:01:11.822>beyond <00:01:12.176>a <00:01:12.296>tenancy.

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<v Cassidy>It's <00:01:13.736>a <00:01:13.824>long-term <00:01:14.394>dependency <00:01:15.029>on <00:01:15.156>the <00:01:15.286>utility.

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<v Cassidy>And <00:01:16.603>it's <00:01:16.756>the <00:01:16.869>first <00:01:17.200>data <00:01:17.490>center <00:01:17.776>OpenAI <00:01:18.389>is <00:01:18.536>designing <00:01:18.936>and <00:01:19.092>building <00:01:19.456>itself — <00:01:20.576>no <00:01:20.808>Microsoft <00:01:21.483>in <00:01:21.556>the <00:01:21.662>middle.

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<v Cassidy>So <00:01:22.976>now <00:01:23.256>a <00:01:23.340>regional <00:01:23.744>grid <00:01:23.989>is <00:01:24.144>load-planning <00:01:24.782>around <00:01:25.116>one <00:01:25.376>lab's <00:01:25.749>model <00:01:26.096>roadmap.

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<v Cassidy>Georgia <00:01:27.763>Power's <00:01:28.216>whole <00:01:28.464>peak <00:01:28.718>strategy <00:01:29.256>has <00:01:29.416>a <00:01:29.496>new <00:01:29.696>co-author, <00:01:30.836>and <00:01:30.936>his <00:01:31.088>name <00:01:31.269>is <00:01:31.476>Sam.

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<v Bill>The <00:01:32.050>number <00:01:32.296>I <00:01:32.400>keep <00:01:32.736>circling <00:01:33.296>is <00:01:33.476>the <00:01:33.616>calendar.

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<v Bill>Six-year <00:01:35.589>build <00:01:35.925>window, <00:01:36.789>fully <00:01:37.136>online <00:01:37.643>in <00:01:37.856>2032.

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<v Bill>OpenAI <00:01:40.656>is <00:01:40.860>committing <00:01:41.456>$20 <00:01:42.166>billion <00:01:43.269>to <00:01:43.429>power <00:01:43.728>that <00:01:43.936>arrives <00:01:44.549>after <00:01:44.836>the <00:01:44.992>next <00:01:45.496>two <00:01:45.963>or <00:01:46.229>three <00:01:46.563>model <00:01:46.983>generations — <00:01:48.696>and <00:01:48.885>demand <00:01:49.349>in <00:01:49.536>2032 <00:01:50.589>might <00:01:51.120>look <00:01:51.446>nothing

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<v Bill>like <00:01:52.229>it <00:01:52.416>does <00:01:52.803>today. <00:01:53.408>That <00:01:54.216>$20 <00:01:54.596>billion <00:01:55.353>figure <00:01:55.776>is <00:01:56.000>also <00:01:56.316>the <00:01:56.560>threshold <00:01:57.156>for <00:01:57.236>the <00:01:57.363>local <00:01:57.768>incentive <00:01:58.496>package.

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<v Bill>Normally, <00:02:00.588>a <00:02:00.712>customer <00:02:01.148>prepays <00:02:01.841>to <00:02:02.028>de-risk <00:02:02.688>the <00:02:02.815>build.

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<v Bill>Here, <00:02:04.448>the <00:02:04.559>commitment <00:02:05.148>unlocks <00:02:05.748>the <00:02:05.928>subsidy — <00:02:07.036>same <00:02:07.295>money, <00:02:08.060>with <00:02:08.208>the <00:02:08.332>mechanics <00:02:08.978>flipped.

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<v Cassidy>They <00:02:10.668>swear <00:02:11.201>existing <00:02:11.668>Georgia <00:02:11.988>Power <00:02:12.252>customers <00:02:12.868>won't <00:02:13.108>see <00:02:13.268>a <00:02:13.356>rate <00:02:13.628>bump.

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<v Cassidy>I'd <00:02:15.020>hold <00:02:15.196>onto <00:02:15.420>that <00:02:15.598>receipt <00:02:15.988>until <00:02:16.268>2032 <00:02:17.108>and <00:02:17.268>check <00:02:17.495>it <00:02:17.588>against <00:02:17.938>reality.

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<v Cassidy>SiliconANGLE <00:02:20.803>writes:

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<v Quote>Anthropic <00:02:22.463>PBC <00:02:22.975>will <00:02:23.147>purchase <00:02:23.556>up <00:02:23.716>to <00:02:23.903>2 <00:02:24.043>gigawatts’ <00:02:24.683>worth <00:02:24.810>of <00:02:24.916>graphics <00:02:25.396>cards <00:02:25.695>from <00:02:25.885>Advanced <00:02:26.436>Micro <00:02:26.773>Devices <00:02:27.323>Inc.

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<v Quote>as <00:02:28.031>part <00:02:28.250>of <00:02:28.343>a <00:02:28.447>multibillion-dollar <00:02:29.487>deal <00:02:29.791>announced <00:02:30.276>today.

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<v Quote>The <00:02:31.316>partnership <00:02:31.951>also <00:02:32.223>has <00:02:32.503>several <00:02:32.823>other <00:02:33.081>components.

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<v Quote>Notably, <00:02:35.243>AMD <00:02:35.695>will <00:02:35.880>invest <00:02:36.276>up <00:02:36.410>to <00:02:36.543>$5 <00:02:37.033>billion <00:02:37.716>in <00:02:37.871>Anthropic <00:02:38.563>and <00:02:38.923>use <00:02:39.160>Claude <00:02:39.556>to <00:02:39.703>speed <00:02:39.930>up <00:02:40.023>its <00:02:40.187>software <00:02:40.590>development <00:02:41.153>efforts.

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<v Bill>The <00:02:42.082>part <00:02:42.322>that <00:02:42.564>stopped <00:02:42.967>me: <00:02:43.874>AMD <00:02:44.434>puts <00:02:44.807>up <00:02:44.994>to <00:02:45.218>five <00:02:45.544>billion <00:02:46.146>into <00:02:46.674>Anthropic

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<v Bill>and <00:02:48.082>Anthropic <00:02:48.727>turns <00:02:49.051>around <00:02:49.414>and <00:02:49.554>buys <00:02:49.954>up <00:02:50.194>to <00:02:50.394>two <00:02:50.614>gigawatts <00:02:51.367>of <00:02:51.682>GPUs <00:02:52.562>from <00:02:52.954>AMD.

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<v Bill>The <00:02:54.240>vendor's <00:02:54.644>funding <00:02:55.014>the <00:02:55.136>customer, <00:02:56.061>which <00:02:56.247>is <00:02:56.398>committing <00:02:56.861>to <00:02:57.014>buy <00:02:57.346>from <00:02:57.514>the <00:02:57.691>vendor.

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<v Bill>The <00:02:58.887>money <00:02:59.250>runs <00:02:59.687>in <00:02:59.934>a <00:03:00.114>circle.

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<v Cassidy>Your <00:03:00.914>chip <00:03:01.154>supplier <00:03:01.767>is <00:03:01.938>also <00:03:02.274>a <00:03:02.450>five-billion-dollar <00:03:03.687>shareholder

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<v Cassidy>so <00:03:04.954>every <00:03:05.268>future <00:03:05.994>“our <00:03:06.354>silicon <00:03:06.954>beats <00:03:07.245>Nvidia” <00:03:07.962>benchmark <00:03:08.786>from <00:03:08.948>either <00:03:09.234>side <00:03:09.607>comes <00:03:09.906>with <00:03:10.074>a <00:03:10.176>footnote.

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<v Cassidy>Remember <00:03:11.821>where <00:03:12.018>Anthropic <00:03:12.714>was — <00:03:13.692>scrambling <00:03:14.294>and <00:03:14.404>renting <00:03:14.821>spare <00:03:15.221>racks <00:03:15.614>off <00:03:15.874>Meta.

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<v Cassidy>Now <00:03:17.250>they're <00:03:17.441>contracting <00:03:17.981>at <00:03:18.054>the <00:03:18.178>chip <00:03:18.487>level <00:03:18.786>with <00:03:18.971>equity <00:03:19.376>attached.

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<v Cassidy>That's <00:03:20.814>a <00:03:20.886>different <00:03:21.044>company <00:03:21.442>from <00:03:21.654>the <00:03:21.754>one <00:03:21.927>we <00:03:22.050>were <00:03:22.165>describing <00:03:22.714>a <00:03:22.794>few <00:03:22.978>days <00:03:23.294>ago.

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<v Bill>The <00:03:24.194>spec <00:03:24.567>sheet <00:03:24.941>is <00:03:25.242>genuinely <00:03:26.154>spicy, <00:03:26.937>though.

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<v Bill>The <00:03:28.014>Helios <00:03:28.498>rack <00:03:28.814>has <00:03:29.154>31 <00:03:29.694>terabytes <00:03:30.327>of <00:03:30.594>HBM4, <00:03:32.007>fifty <00:03:32.324>percent <00:03:32.722>more <00:03:32.983>memory <00:03:33.426>than <00:03:33.623>Nvidia's <00:03:34.226>Vera <00:03:34.754>Rubin <00:03:35.244>systems.

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<v Bill>On <00:03:36.741>paper, <00:03:37.506>that <00:03:37.687>gives <00:03:38.018>Anthropic <00:03:38.714>a <00:03:38.850>cost-per-token <00:03:40.162>edge.

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<v Bill>But <00:03:41.746>that <00:03:42.258>edge <00:03:42.574>depends <00:03:43.047>on <00:03:43.294>AMD's <00:03:44.167>MI450 <00:03:45.474>roadmap <00:03:46.105>shipping <00:03:46.727>on <00:03:46.930>time.

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<v Bill>If <00:03:48.327>it <00:03:48.501>slips <00:03:48.903>behind <00:03:49.394>Nvidia, <00:03:50.386>that <00:03:50.567>circular <00:03:51.042>structure <00:03:51.538>gets <00:03:51.857>uncomfortable <00:03:52.802>fast.

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<v Cassidy>Put <00:03:53.607>today's <00:03:54.074>two <00:03:54.247>deals <00:03:54.562>side <00:03:54.807>by <00:03:55.010>side: <00:03:56.034>OpenAI <00:03:56.661>locks <00:03:57.042>down <00:03:57.394>3.2 <00:03:58.094>gigawatts <00:03:58.704>through <00:03:58.941>an <00:03:59.074>owned <00:03:59.524>Georgia <00:03:59.965>campus

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<v Cassidy>while <00:04:01.282>Anthropic <00:04:01.927>locks <00:04:02.242>down <00:04:02.554>two <00:04:02.954>through <00:04:03.274>a <00:04:03.371>vendor <00:04:03.760>equity <00:04:04.114>loop.

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<v Cassidy>The <00:04:05.362>deal <00:04:05.605>structures <00:04:06.171>differ, <00:04:06.874>but <00:04:07.042>both <00:04:07.254>are <00:04:07.371>racing <00:04:07.741>to <00:04:07.851>secure <00:04:08.261>power.

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<v Bill>Right — <00:04:10.254>one <00:04:10.514>buys <00:04:10.854>the <00:04:10.958>building, <00:04:11.874>one <00:04:12.194>marries <00:04:12.774>the <00:04:12.905>supplier.

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<v Bill>Same <00:04:14.754>power <00:04:15.211>hunger <00:04:15.661>in <00:04:15.934>two <00:04:16.162>different <00:04:16.687>suits.

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<v Cassidy>Here's <00:04:18.743>Sean <00:04:19.043>Mitchell <00:04:19.426>at <00:04:19.559>DataCenterNews:

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<v Quote>Production <00:04:23.462>of <00:04:23.595>NVIDIA's <00:04:24.219>Vera <00:04:24.542>Rubin <00:04:25.088>NVL72 <00:04:26.475>AI <00:04:26.864>system <00:04:27.328>is <00:04:27.483>ramping <00:04:27.835>up

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<v Quote>with <00:04:28.688>racks <00:04:29.005>already <00:04:29.395>running <00:04:29.702>at <00:04:29.835>CoreWeave

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<v Quote>Google <00:04:31.102>Cloud <00:04:31.603>Microsoft <00:04:32.462>Azure <00:04:32.915>and <00:04:33.344>Oracle <00:04:33.808>Cloud <00:04:34.128>Infrastructure.

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<v Quote>The <00:04:35.885>rollout <00:04:36.288>marks <00:04:36.595>the <00:04:36.759>commercial <00:04:37.245>arrival <00:04:37.648>of <00:04:37.824>NVIDIA's <00:04:38.452>latest <00:04:38.859>rack-scale <00:04:39.648>AI <00:04:39.986>platform

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<v Quote>backed <00:04:41.168>by <00:04:41.315>a <00:04:41.412>supply <00:04:41.822>chain <00:04:42.208>spanning <00:04:42.667>more <00:04:42.843>than <00:04:43.115>350 <00:04:44.205>factory <00:04:44.622>sites <00:04:45.001>across <00:04:45.435>30 <00:04:45.731>countries.

58
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<v Bill>So <00:04:46.972>after <00:04:47.345>a <00:04:47.465>week <00:04:47.838>of <00:04:47.998>me <00:04:48.174>asking <00:04:48.625>whether <00:04:48.965>any <00:04:49.172>of <00:04:49.265>these <00:04:49.525>compute <00:04:50.017>contracts <00:04:50.705>are <00:04:50.905>real <00:04:51.369>cash <00:04:52.078>or <00:04:52.409>just <00:04:52.718>press <00:04:53.047>releases, <00:04:54.217>here's <00:04:54.525>the <00:04:54.642>answer.

59
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<v Bill>Vera <00:04:55.958>Rubin <00:04:56.638>NVL72 <00:04:58.012>racks <00:04:58.405>are <00:04:58.635>already <00:04:59.035>running <00:04:59.412>at <00:04:59.577>CoreWeave, <00:05:00.791>Google <00:05:01.158>Cloud, <00:05:02.105>Azure, <00:05:02.725>and <00:05:02.996>Oracle.

60
00:05:03.785 --> 00:05:08.238
<v Bill>Live <00:05:04.495>silicon, <00:05:05.369>four <00:05:05.716>clouds, <00:05:06.485>all <00:05:06.958>at <00:05:07.145>once.

61
00:05:08.245 --> 00:05:10.425
<v Cassidy>And <00:05:08.292>there's <00:05:08.558>no <00:05:08.745>demo <00:05:09.118>video <00:05:09.438>to <00:05:09.585>squint <00:05:09.918>at <00:05:10.089>here.

62
00:05:10.612 --> 00:05:16.945
<v Cassidy>It <00:05:11.025>shipped <00:05:11.337>with <00:05:11.521>customers <00:05:12.065>plugged <00:05:12.452>in, <00:05:13.265>which <00:05:13.505>tells <00:05:13.745>you <00:05:13.885>the <00:05:14.002>demand <00:05:14.391>behind <00:05:14.697>this <00:05:14.873>week's <00:05:15.189>spending <00:05:15.625>is <00:05:15.845>already <00:05:16.345>real.

63
00:05:16.945 --> 00:05:22.505
<v Bill>Which <00:05:17.598>is <00:05:17.765>exactly <00:05:18.265>why <00:05:18.545>the <00:05:18.729>Anthropic-AMD <00:05:20.185>deal <00:05:20.558>we <00:05:20.729>just <00:05:21.065>hit <00:05:21.345>makes <00:05:21.598>me <00:05:21.785>nervous.

64
00:05:22.745 --> 00:05:28.665
<v Bill>AMD's <00:05:23.655>putting <00:05:23.945>five <00:05:24.335>billion <00:05:24.889>into <00:05:25.185>a <00:05:25.278>customer <00:05:25.737>that's <00:05:25.981>committing <00:05:26.372>to <00:05:26.505>buy <00:05:26.885>AMD <00:05:27.545>GPUs

65
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<v Bill>while <00:05:29.454>NVIDIA's <00:05:30.009>next-gen <00:05:30.734>system <00:05:31.252>is <00:05:31.525>already <00:05:31.998>in <00:05:32.156>production <00:05:32.722>across <00:05:33.105>the <00:05:33.282>hyperscalers.

66
00:05:34.812 --> 00:05:42.345
<v Cassidy>Right. <00:05:35.518>If <00:05:35.725>you're <00:05:35.913>Anthropic, <00:05:37.005>you've <00:05:37.179>locked <00:05:37.465>gigawatts <00:05:38.212>to <00:05:38.305>a <00:05:38.415>roadmap <00:05:38.937>that's <00:05:39.195>chasing <00:05:39.665>a <00:05:39.819>system <00:05:40.085>already <00:05:40.585>live <00:05:40.945>somewhere <00:05:41.385>else.

67
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<v Bill>That's <00:05:42.625>the <00:05:42.809>unit-economics <00:05:43.758>question <00:05:44.265>nobody's <00:05:44.881>answering.

68
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<v Bill>NVIDIA <00:05:46.574>claims <00:05:47.105>sixth-gen <00:05:48.398>NVLink <00:05:49.255>doubles <00:05:50.083>throughput <00:05:50.772>on <00:05:51.005>the <00:05:51.129>hard <00:05:51.449>workloads.

69
00:05:52.638 --> 00:05:56.345
<v Bill>If <00:05:53.345>AMD <00:05:53.772>falls <00:05:54.169>even <00:05:54.505>one <00:05:54.796>generation <00:05:55.396>behind

70
00:05:56.365 --> 00:06:02.608
<v Bill>the <00:05:56.478>circular <00:05:56.965>capital <00:05:57.449>loop <00:05:57.751>starts <00:05:58.065>looking <00:05:58.385>a <00:05:58.485>lot <00:05:58.697>more <00:05:58.889>expensive <00:05:59.513>than <00:05:59.725>the <00:05:59.865>five-billion-dollar <00:06:00.967>headline <00:06:01.554>suggests.

71
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<v Cassidy>NVIDIA's <00:06:03.572>whole <00:06:03.772>pitch <00:06:04.185>is <00:06:04.393>that <00:06:04.652>seven <00:06:05.052>chips <00:06:05.442>across <00:06:05.849>five <00:06:06.169>rack <00:06:06.492>trays <00:06:06.873>come <00:06:07.118>as <00:06:07.285>one <00:06:07.535>package.

72
00:06:08.425 --> 00:06:10.985
<v Cassidy>You <00:06:08.705>don't <00:06:09.092>assemble <00:06:09.332>it; <00:06:09.585>you <00:06:09.745>buy <00:06:09.905>the <00:06:10.105>system.

73
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<v Cassidy>That's <00:06:11.590>a <00:06:11.670>lot <00:06:11.817>of <00:06:11.934>lock-in <00:06:12.470>for <00:06:12.630>a <00:06:12.732>platform <00:06:13.246>that <00:06:13.374>just <00:06:13.662>went <00:06:13.838>from <00:06:14.110>slide <00:06:14.537>to <00:06:14.647>server <00:06:15.070>room.

74
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<v Cassidy>Here's <00:06:16.514>Maddie <00:06:16.856>McGay <00:06:17.239>at <00:06:17.399>NorthJersey.com:

75
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<v Quote>Gov. <00:06:19.405>Mikie <00:06:19.745>Sherrill <00:06:20.259>signed <00:06:20.505>a <00:06:20.625>law <00:06:20.918>on <00:06:21.089>July <00:06:21.505>20 <00:06:21.905>that <00:06:22.261>starting <00:06:22.609>next <00:06:22.934>summer <00:06:23.377>will <00:06:23.549>restrict <00:06:23.961>landlords <00:06:24.497>from <00:06:24.678>using <00:06:25.003>algorithms <00:06:25.638>to <00:06:25.805>set <00:06:26.052>rents

76
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<v Quote>a <00:06:26.909>practice <00:06:27.305>state <00:06:27.553>officials <00:06:28.049>said <00:06:28.351>helped <00:06:28.665>drive <00:06:28.918>up <00:06:29.092>costs <00:06:29.455>through <00:06:29.727>unlawful <00:06:30.287>coordination.

77
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<v Quote>Taking <00:06:31.974>effect <00:06:32.412>on <00:06:32.529>July <00:06:32.945>1

78
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<v Quote>2027 <00:06:34.405>the <00:06:34.785>FAIR — <00:06:35.565>Forbidding <00:06:35.945>the <00:06:36.121>Algorithmic <00:06:36.758>Inflation <00:06:37.292>of <00:06:37.409>Rent — <00:06:37.915>Act <00:06:38.129>will <00:06:38.438>prohibit <00:06:38.921>landlords <00:06:39.457>from <00:06:39.625>using <00:06:39.896>software <00:06:40.505>the <00:06:40.676>recommends <00:06:41.252>rents <00:06:41.638>by

79
00:06:41.785 --> 00:06:44.705
<v Quote>assessing <00:06:42.205>private <00:06:42.689>data <00:06:42.991>shared <00:06:43.318>by <00:06:43.481>competing <00:06:44.041>landlords.

80
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<v Bill>Okay, <00:06:45.961>one <00:06:46.221>story <00:06:46.674>on <00:06:46.848>today's <00:06:47.328>board <00:06:47.709>that <00:06:47.981>isn't <00:06:48.381>a <00:06:48.561>gigawatt <00:06:49.310>announcement.

81
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<v Bill>Governor <00:06:51.021>Sherrill <00:06:51.592>signed <00:06:52.201>New <00:06:52.461>Jersey's <00:06:53.181>FAIR <00:06:53.801>Act <00:06:54.328>on <00:06:54.621>Monday.

82
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<v Bill>It <00:06:56.077>bans <00:06:56.525>landlords <00:06:57.133>from <00:06:57.328>using <00:06:57.741>algorithms <00:06:58.621>to <00:06:58.861>set <00:06:59.181>rents <00:06:59.648>based <00:07:00.061>on <00:07:00.301>pooled <00:07:00.851>private <00:07:01.421>data <00:07:01.853>from <00:07:02.365>competing <00:07:03.021>landlords.

83
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<v Bill>The <00:07:04.741>state <00:07:04.981>isn't <00:07:05.301>calling <00:07:05.629>this <00:07:05.947>unsafe <00:07:06.888>AI.

84
00:07:07.554 --> 00:07:16.621
<v Bill>Sherrill <00:07:08.365>literally <00:07:08.998>called <00:07:09.368>it <00:07:09.701>“collusion <00:07:10.834>by <00:07:11.181>algorithm.” <00:07:12.248>It's <00:07:12.914>an <00:07:13.101>antitrust <00:07:13.958>theory <00:07:14.361>dressed <00:07:14.861>up <00:07:15.074>as <00:07:15.208>an <00:07:15.421>AI <00:07:15.837>bill.

85
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<v Cassidy>Right, <00:07:17.121>and <00:07:17.208>it's <00:07:17.474>aimed <00:07:17.785>squarely <00:07:18.194>at <00:07:18.365>RealPage.

86
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<v Cassidy>New <00:07:19.867>Jersey <00:07:20.205>sued <00:07:20.481>the <00:07:20.591>company <00:07:20.989>back <00:07:21.208>in <00:07:21.314>April <00:07:21.741>2025, <00:07:23.201>and <00:07:23.281>the <00:07:23.481>DOJ <00:07:23.941>has <00:07:24.101>a <00:07:24.205>case <00:07:24.561>too.

87
00:07:25.121 --> 00:07:28.804
<v Cassidy>The <00:07:25.721>law's <00:07:26.041>codifying <00:07:26.641>the <00:07:26.758>theory <00:07:27.133>that <00:07:27.331>lawsuit <00:07:27.861>was <00:07:28.051>testing.

88
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<v Bill>Look <00:07:29.261>at <00:07:29.341>the <00:07:29.485>mechanism: <00:07:30.605>occupancy <00:07:31.261>levels <00:07:31.801>and <00:07:32.048>lease <00:07:32.441>termination <00:07:33.181>dates, <00:07:34.221>all <00:07:34.518>shared <00:07:34.918>across <00:07:35.321>competitors <00:07:36.109>into <00:07:36.721>one <00:07:37.096>recommendation <00:07:38.221>engine.

89
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<v Bill>Take <00:07:39.621>the <00:07:39.805>word <00:07:40.181>“AI” <00:07:41.101>out, <00:07:41.701>and <00:07:41.841>you've <00:07:42.021>got <00:07:42.181>a <00:07:42.288>price-fixing <00:07:43.124>cartel <00:07:43.773>with <00:07:43.941>a <00:07:44.074>nicer <00:07:44.754>UI.

90
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<v Cassidy>And <00:07:45.928>there's <00:07:46.181>a <00:07:46.269>real <00:07:46.523>deadline: <00:07:47.565>July <00:07:47.901>1, <00:07:48.301>2027.

91
00:07:49.437 --> 00:07:55.741
<v Cassidy>That's <00:07:49.928>an <00:07:50.027>actual <00:07:50.352>compliance <00:07:50.909>date <00:07:51.141>for <00:07:51.301>a <00:07:51.385>deployed <00:07:51.810>system, <00:07:52.728>which <00:07:52.888>is <00:07:52.989>more <00:07:53.213>than <00:07:53.389>most <00:07:53.608>of <00:07:53.701>the <00:07:53.878>safety <00:07:54.269>talk <00:07:54.488>in <00:07:54.594>Congress <00:07:55.092>produces.

92
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<v Cassidy>From <00:07:56.542>Sean <00:07:56.814>O'Kane <00:07:57.454>at <00:07:57.694>TechCrunch:

93
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<v Quote>Travis <00:07:59.226>Kalanick’s <00:07:59.779>robotics <00:08:00.266>company, <00:08:01.006>Atoms, <00:08:01.706>has <00:08:01.932>raised <00:08:02.246>$1.7 <00:08:03.276>billion <00:08:04.099>in <00:08:04.246>a <00:08:04.336>funding <00:08:04.739>round <00:08:05.066>led <00:08:05.299>by <00:08:05.473>Andreessen <00:08:06.106>Horowitz.

94
00:08:06.926 --> 00:08:10.606
<v Quote>Ben <00:08:07.466>Horowitz <00:08:07.998>will <00:08:08.174>join <00:08:08.386>the <00:08:08.496>company’s <00:08:08.979>board <00:08:09.302>following <00:08:09.826>the <00:08:09.937>investment.

95
00:08:10.782 --> 00:08:15.086
<v Quote>Bain <00:08:11.546>Capital, <00:08:12.326>Fifth <00:08:12.622>Wall, <00:08:13.206>and <00:08:13.383>others <00:08:13.781>participated <00:08:14.473>in <00:08:14.546>the <00:08:14.673>round.

96
00:08:15.236 --> 00:08:21.886
<v Quote>Perhaps <00:08:16.350>most <00:08:16.666>notably, <00:08:17.390>Uber <00:08:17.710>also <00:08:18.012>joined <00:08:18.306>the <00:08:18.406>funding <00:08:18.739>round, <00:08:19.379>re-connecting <00:08:20.046>Kalanick <00:08:20.558>with <00:08:20.706>the <00:08:20.816>company <00:08:21.219>he <00:08:21.376>founded

97
00:08:22.211 --> 00:08:34.451
<v Bill>Atoms — <00:08:23.320>Travis <00:08:23.831>Kalanick's <00:08:24.602>robotics <00:08:25.224>thing — <00:08:26.019>just <00:08:26.257>pulled <00:08:26.611>$1.7 <00:08:27.891>billion, <00:08:29.363>with <00:08:29.771>a16z <00:08:31.231>leading <00:08:31.771>and <00:08:32.211>Ben <00:08:32.511>Horowitz <00:08:33.080>taking <00:08:33.611>a <00:08:33.771>board <00:08:34.035>seat.

98
00:08:34.611 --> 00:08:40.451
<v Bill>And <00:08:35.131>I <00:08:35.219>want <00:08:35.464>to <00:08:35.619>know <00:08:35.859>what's <00:08:36.200>behind <00:08:36.675>that <00:08:36.988>number, <00:08:37.721>because <00:08:38.291>it <00:08:38.531>isn't <00:08:38.991>shipped <00:08:39.525>robots.

99
00:08:41.045 --> 00:08:50.973
<v Bill>This <00:08:41.226>is <00:08:41.373>a <00:08:41.463>holding <00:08:41.873>company <00:08:42.360>built <00:08:42.746>on <00:08:42.913>top <00:08:43.146>of <00:08:43.333>Cloud <00:08:43.813>Kitchens, <00:08:44.837>plus <00:08:45.200>Pronto, <00:08:46.393>the <00:08:46.506>heavy-industry <00:08:47.391>automation <00:08:48.042>outfit <00:08:48.533>run <00:08:48.853>by <00:08:49.083>Anthony <00:08:49.633>Levandowski.

100
00:08:51.077 --> 00:08:58.933
<v Bill>That's <00:08:51.653>$1.7 <00:08:52.573>billion <00:08:53.473>for <00:08:53.693>a <00:08:53.813>rebrand <00:08:54.480>built <00:08:55.070>around <00:08:55.440>an <00:08:55.560>acquisition, <00:08:56.869>with <00:08:56.973>a <00:08:57.082>mining <00:08:57.564>ambition <00:08:58.186>on <00:08:58.413>top.

101
00:08:59.253 --> 00:09:03.653
<v Bill>A <00:08:59.633>lot <00:08:59.840>of <00:08:59.944>conviction <00:09:00.493>for <00:09:00.653>something <00:09:01.045>that <00:09:01.253>hasn't <00:09:01.713>cleared <00:09:02.173>a <00:09:02.269>warehouse <00:09:02.853>floor.

102
00:09:03.653 --> 00:09:06.693
<v Cassidy>And <00:09:04.080>there's <00:09:04.320>no <00:09:04.421>technical <00:09:04.897>disclosure <00:09:05.377>attached <00:09:05.786>to <00:09:05.953>any <00:09:06.160>of <00:09:06.293>it.

103
00:09:06.893 --> 00:09:09.813
<v Cassidy>I'd <00:09:07.213>use <00:09:07.373>the <00:09:07.541>same <00:09:07.793>bar <00:09:08.026>as <00:09:08.173>I <00:09:08.253>would <00:09:08.473>for <00:09:08.593>any <00:09:08.853>lab <00:09:09.173>demo.

104
00:09:09.893 --> 00:09:16.133
<v Cassidy>With <00:09:10.266>no <00:09:10.426>receipts <00:09:10.887>beyond <00:09:11.133>a <00:09:11.226>Getty <00:09:11.560>photo <00:09:11.933>and <00:09:12.080>an <00:09:12.293>X <00:09:12.549>post, <00:09:13.373>a <00:09:13.466>robotics <00:09:13.946>raise <00:09:14.261>this <00:09:14.513>big <00:09:14.746>is <00:09:14.893>still <00:09:15.133>a <00:09:15.213>marketing <00:09:15.653>event.

105
00:09:16.838 --> 00:09:19.893
<v Cassidy>The <00:09:16.901>part <00:09:17.109>that <00:09:17.217>actually <00:09:17.621>made <00:09:17.840>me <00:09:17.960>blink <00:09:18.373>is <00:09:18.613>Uber <00:09:18.983>joining <00:09:19.353>the <00:09:19.480>round.

106
00:09:20.093 --> 00:09:28.533
<v Cassidy>The <00:09:20.743>company <00:09:21.109>that <00:09:21.219>pushed <00:09:21.553>Kalanick <00:09:22.013>out <00:09:22.160>in <00:09:22.373>2017 <00:09:23.205>over <00:09:23.353>the <00:09:23.478>harassment <00:09:24.153>and <00:09:24.293>toxic-culture <00:09:25.144>complaints <00:09:25.866>is <00:09:26.333>now <00:09:26.493>writing <00:09:26.813>a <00:09:26.906>check <00:09:27.205>into <00:09:27.373>his <00:09:27.557>next <00:09:27.880>thing.

107
00:09:28.597 --> 00:09:30.533
<v Cassidy>That's <00:09:28.965>some <00:09:29.173>reunion.

108
00:09:30.586 --> 00:09:42.053
<v Bill>Right, <00:09:31.233>and <00:09:31.463>compare <00:09:31.840>it <00:09:31.925>with <00:09:32.101>what <00:09:32.373>we <00:09:32.613>just <00:09:33.013>covered — <00:09:34.229>OpenAI <00:09:35.071>committing <00:09:35.693>$20 <00:09:36.273>billion <00:09:37.306>to <00:09:37.480>power <00:09:37.866>it <00:09:38.033>can <00:09:38.266>point <00:09:38.640>to, <00:09:39.461>Anthropic <00:09:40.203>locking <00:09:40.757>down <00:09:41.073>gigawatts.

109
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<v Bill>At <00:09:42.653>least <00:09:42.920>those <00:09:43.317>bets <00:09:43.642>attach <00:09:44.080>to <00:09:44.173>something <00:09:44.595>physical.

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<v Bill>Here, <00:09:46.733>$1.7 <00:09:48.033>billion <00:09:49.093>is <00:09:49.310>riding <00:09:49.706>on <00:09:49.853>a <00:09:49.989>vibe <00:09:50.533>and <00:09:51.053>Levandowski's <00:09:51.866>résumé.

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<v Cassidy>I'll <00:09:53.205>give <00:09:53.353>you <00:09:53.433>the <00:09:53.539>honest <00:09:53.873>version: <00:09:55.133>a16z <00:09:56.073>has <00:09:56.165>been <00:09:56.333>right <00:09:56.560>about <00:09:56.764>founders <00:09:57.377>everyone <00:09:57.781>else <00:09:57.996>wouldn't <00:09:58.293>touch.

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<v Cassidy>But <00:09:59.373>I'd <00:09:59.525>like <00:09:59.680>to <00:09:59.793>see <00:09:59.993>the <00:10:00.093>thing <00:10:00.339>before <00:10:00.693>I <00:10:00.813>grade <00:10:01.033>the <00:10:01.173>round.

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<v Cassidy>For <00:10:02.848>more <00:10:03.093>on <00:10:03.220>the <00:10:03.328>infrastructure <00:10:04.046>behind <00:10:04.340>the <00:10:04.533>AI <00:10:04.880>boom, <00:10:05.640>check <00:10:05.880>out <00:10:06.040>The <00:10:06.224>Data <00:10:06.526>Center <00:10:06.880>Daily.

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<v Cassidy>It <00:10:08.057>covers <00:10:08.469>hyperscaler <00:10:09.262>spending, <00:10:10.180>the <00:10:10.293>power <00:10:10.640>grid, <00:10:11.331>semiconductor <00:10:12.069>supply, <00:10:12.760>and <00:10:13.140>the <00:10:13.257>energy <00:10:13.660>markets <00:10:14.120>being <00:10:14.400>reshaped <00:10:14.960>by <00:10:15.163>intelligence <00:10:15.733>at <00:10:15.920>scale.

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<v Cassidy>Find <00:10:17.413>it <00:10:17.556>wherever <00:10:17.880>you <00:10:18.034>listen <00:10:18.267>to <00:10:18.418>podcasts.

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<v Cassidy>A <00:10:20.132>few <00:10:20.305>dates <00:10:20.625>to <00:10:20.799>watch: <00:10:21.627>Project <00:10:22.072>Camellia's <00:10:22.612>Georgia <00:10:22.945>Power <00:10:23.262>service <00:10:23.665>is <00:10:23.834>expected <00:10:24.359>to <00:10:24.444>come <00:10:24.641>online <00:10:25.079>in <00:10:25.212>phases <00:10:25.742>between <00:10:26.172>2028 <00:10:27.172>and <00:10:27.612>2032.

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<v Cassidy>Anthropic <00:10:30.052>and <00:10:30.272>AMD <00:10:30.636>plan <00:10:30.919>to <00:10:31.025>begin <00:10:31.340>deploying <00:10:31.959>MI450-based <00:10:33.272>Helios <00:10:33.772>hardware <00:10:34.545>in <00:10:34.832>the <00:10:34.945>first <00:10:35.260>half <00:10:35.505>of <00:10:35.692>2027.

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<v Cassidy>New <00:10:37.738>Jersey's <00:10:38.145>FAIR <00:10:38.472>Act <00:10:38.701>restrictions <00:10:39.345>on <00:10:39.585>AI-powered <00:10:40.220>rent-setting <00:10:40.821>software <00:10:41.612>take <00:10:41.978>effect <00:10:42.316>July <00:10:42.732>1, <00:10:43.292>2027.

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<v Cassidy>Links <00:10:45.399>to <00:10:45.492>every <00:10:45.759>story <00:10:46.132>are <00:10:46.279>in <00:10:46.352>the <00:10:46.460>show <00:10:46.692>notes <00:10:46.945>if <00:10:47.072>you'd <00:10:47.228>like <00:10:47.319>to <00:10:47.432>dig <00:10:47.669>deeper.

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<v Cassidy>That's <00:10:48.999>it <00:10:49.092>for <00:10:49.265>today's <00:10:49.719>AI <00:10:49.985>Daily <00:10:50.305>Briefing.

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<v Cassidy>This <00:10:51.585>is <00:10:51.732>a <00:10:51.842>Lantern <00:10:52.432>Podcast.