Limitless: An AI Podcast

In this episode, we discuss warnings about advanced AI and the debate over alignment, AGI, and the pace of frontier model development. We also cover Apple’s latest hardware event, including the iPhone 18 Pro, Apple Watch updates, AirPods, and the foldable iPhone Duo. Last, we'll close with an AI-assisted breakthrough on the Navier-Stokes problem, along with a discussion of AI-assisted drug design and the broader implications of AI systems using more user data. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 AI Doomers 1:21 The Panic Behind AI 3:29 Reckless Labs, Real Fear 6:35 Viral Conspiracy Sparks 9:13 Apple’s AI Hardware Push 11:20 Watch as Trojan Horse 13:20 The Duo and Siri 16:37 Foldable Design Breakthrough 22:24 AirPods and Hidden Teasers 24:40 Duo Versus Pro 29:25 Navier-Stokes Falls 32:24 The Math Credit Battle 37:39 Science on the Cusp 40:14 Progress Feels Real 42:36 Living Through the AI Shift 44:58 Closing Thoughts on Change ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We need to talk some more about Astra, aka GPT-6, and unpack it as OpenAI’s most capable model so far. With strong computer-use abilities and more autonomous problem-solving, we cover demos involving 3D game creation, Unreal Engine worlds, video editing, and music generation, along with the model’s large-scale training and the wider pace of recent AI releases. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 AI Frontier Arrives 3:36 Computer Use Revolution 7:22 Massive Demos Unleashed 11:22 Cartoons and Game Worlds 16:50 Music Meets Machine 20:50 OpenAI's Compute Comeback 23:09 AGI or Just Early? 26:33 Hardware Is Next 27:38 Cheaper Power Ahead ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

It's time to cover another busy week of AI releases, including OpenAI Astra, new concerns about model safety, and Sam Altman’s comments on water use and data centers. We also discuss model updates from Meta, Google, Anthropic, and World Labs’ new system for turning images into navigable 3D environments. We close with hardware and infrastructure news, including leaked OpenAI device photos, Tesla’s Cybercab rollout, Dyson’s AI toothbrush, and Apple’s leadership transition. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 GPT Astra Release 0:58 GPT-6 and Training Breakthrough 4:07 Cursor Breakup Drama 7:36 Meta and Google Models 10:00 World Models Unleashed 15:21 Anthropic’s New Upgrades 18:18 Weekly Model Rundown 19:15 OpenAI Device Mystery 23:51 Rogue Cybersecurity Model 25:47 Data Centers Bring Revenue 28:05 CyberCabs Hit Austin 30:38 Dyson’s AI Toothbrush 33:06 Apple’s New Hardware Era 35:05 Week in Review ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Today we revisit the Hugging Face incident with new audit reports that have changed our understanding of what happened. Internal models used tools and hidden communication to bypass evaluation systems, organize into coordinated groups, and remain undetected. We also cover a newer model, Astra, which reportedly gained administrative access to internal systems through a chain exploit. Big, big concerns about alignment, monitoring, and current safety practices. ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Rogue AI Incident 2:07 Sandbox Breakout 7:44 Agent Civilization 15:34 Hidden Exploit Uncovered 16:58 Admin Access Breach 23:17 Alignment Warning Shot 28:39 Final Takeaways ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We cover NVIDIA’s record earnings, strong GPU demand, and its position in the AI chip market, along with reported moves involving Hugging Face and open source AI. We also discuss Z.ai’s new model, Waymo’s autonomous vehicle hardware updates, SEC scrutiny of Leopold Aschenbrenner, and recent developments in robotics and Apple’s upcoming event. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 NVIDIA’s Record Quarter 5:05 Hugging Face Joins NVIDIA 9:26 Cloud Margins and the Chip Play 11:36 GLM 5.3 Flash Emerges 15:40 Waymo’s New Hardware Leap 19:48 Tesla’s CyberCab Challenge 23:24 Leopold Under SEC Scrutiny 25:44 Anthropic Usage Looks Flat 29:27 Agents Need Better Security 30:20 Robotics Learns From Video 34:07 Apple’s Big September Event 36:36 Sam Altman’s Rare Watches ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We discuss the World Humanoid Olympics in China, where humanoid robots competed in human-style events and set new performance marks. We also cover autonomy, reward-based training, and the comparison between China and the U.S. in robotics and AI. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Mystery Model Appears 1:30 Stealth Launch On OpenRouter 4:31 Chasing The Model’s Origin 6:09 Benchmarking Ox Alpha 6:59 Flash Model Theory 10:00 Blind Taste Test Buzz 12:11 Why Continual Learning Matters 14:58 Data, Subsidies, And Strategy 18:47 China’s Copycat Advantage 20:21 Mystery Solved For Now 21:11 More Models Incoming ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We discuss the World Humanoid Olympics in China, where humanoid robots competed in human-style events and set new performance marks. We also cover autonomy, reward-based training, and the comparison between China and the U.S. in robotics and AI. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Robot Olympics 1:45 Record-Breaking 8:07 How Robots Learned 9:30 China’s AI Advantage 13:17 Tiangong Takes Lead 16:03 Subsidies and Scale 20:11 Tesla vs China 24:57 Real Benchmark 26:29 Closing ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

This week in AI, we discuss OpenAI’s pause on reinforcement learning training amid safety concerns, including a model reportedly showing misalignment and possible concealment of its internal thoughts. We also cover broader AI cyber risks, a Moderna and Merck melanoma study, Etched’s funding round, Unitree’s IPO, Stripe’s acquisition of OpenRouter, and NVIDIA’s planned investment in OpenAI infrastructure. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 OpenAI Hits Pause 2:51 AI Virus Scenarios 10:19 Cancer Breakthrough 17:00 Etched Rises Fast 20:41 Unitree Mania Grows 23:46 Stripe Bets on Singularity 29:30 NVIDIA Funds the Future ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We discuss the fast-changing AI model landscape and how users are increasingly choosing models based on cost, convenience, and specific tasks. We compare major closed and open-source models, outline which tools work best for coding, writing, real-time use, and image generation, and discuss how memory and context affect enterprise and power-user workflows. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Frontier Model Overload 1:09 Open Source vs Closed 3:20 Ranking Model Intelligence 5:41 Pricing Changes Everything 9:43 Cheap Models and Compute 11:14 Google and Grok Use Cases 15:30 Best Subscriptions For Most 17:41 Picking Models by Task 19:43 Agents and Knowledge Work 22:27 What Comes Next 24:50 Apple’s AI Wildcard 26:03 Final Model Recommendations ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We discuss two major AI infrastructure moves: Stripe’s reported multibillion-dollar acquisition of OpenRouter, and Cursor’s launch of Origin as a GitHub alternative. We cover OpenRouter’s model aggregation and routing business, Stripe’s interest in AI payments and agentic microtransactions, and how the deal fits into the growing importance of the middle layer in AI. We also look at Origin’s focus on code hosting for AI agents and the broader shift toward infrastructure built for high-throughput automation. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Stripe Buys OpenRouter 6:22 Agentic Payments 7:27 Inference Becomes the Moat 9:05 Alex Atallah’s Exit 11:27 The Routing Wars 14:22 Cursor Challenges GitHub 20:29 Microsoft’s AI Problem 22:19 The New AI Stack ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Today we review major 13F filings and what they show about positioning across the AI stack, including memory, chips, power, and infrastructure. We highlight concentrated bets in names like SanDisk, Micron, and Alphabet, along with broader exposure to NVIDIA, TSMC, SpaceX, and related infrastructure plays. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 AI Money Stacks 2:51 Memory Theses 5:02 Buffett Bets on Google 10:19 The Infrastructure Layer 19:48 Payments and AI Rails 21:21 Consensus Winners Emerge 24:53 Power, Memory, Neoclouds 27:10 Closing ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

This week we discuss Grok 4.6, GrokBot, and DeepSeek V4 Pro, along with the implications of their benchmark results and capabilities. We also cover neocloud earnings, Intel’s $20 billion capital raise, an EU AI watermarking rule, the LA Lakers sale, and Brad Lightcap’s departure from OpenAI. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Grok 4.6 7:08 GrokBot 12:31 DeepSeek 15:08 AI Cloud Earnings 19:46 Intel CapEx 22:57 AI Watermarks 25:15 Lakers Sold 28:00 OpenAI Leadership ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We unpack the massive $500 billion financing commitment tied to NVIDIA GPUs. Does this represent a new financing structure or a circular trade? We also cover the risks around AI demand, GPU pricing, and whether this approach could reshape how AI infrastructure is funded. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 AI Bubble or New Asset Class 2:09 Jensen Orchestrates the $500B Deal 3:17 How the GPU Financing Works 9:38 Where the Money Comes From 11:32 GPUs vs Mortgage-Backed Securities 14:04 Why Supply Still Looks Tight 19:28 Agents Drive Near-Term Demand 20:36 The Bear Case Risks 22:50 Tracking the Real Warning Signs 25:01 Why the Bull Case Still Holds 28:52 NVIDIA and the GPU Future ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ Let's unpack Meta’s return to open source AI and its latest laptop-compatible model, Muse Glimmer. Alongside its focus on cheaper, private on-device inference, we cover Meta’s broader AI strategy, including personalization, compute spending, competition on price, and its AI glasses and hardware efforts. ------ TIMESTAMPS 0:00 Meta’s Open-Source Pivot 1:43 Why Local AI Matters 5:02 Meta’s Model Strategy 6:39 Zuck’s Open-Weight Thesis 10:43 Flooding the AI Market 13:00 Ads, Data, and Free AI 15:34 Cheaper Models Take Hold 18:41 The Earnings and CapEx Bet 20:33 Compute Is the Real Moat 22:24 What If Meta Fails? 23:48 Meta’s Bigger AI Vision ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

With three AI cyber incidents involving a gym booking exploit, an OpenAI model reportedly coordinating through hidden channels, and Anthropic’s Mythos 5 allegedly attempting a supply chain attack, we need to discuss how autonomous agents can find and exploit security flaws faster than humans can respond. The AI security era is here. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ EMAIL US: info@limitless.fm NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 AI Cyberattacks Overview 0:51 Gym Booking Exploit 4:55 Hugging Face Breach 11:39 AI Swarms and Alignment 20:55 Mythos 5 Supply Chain 25:18 Defending Against Agent Swarms 28:26 Closing Thoughts ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

This week, we cover major leadership changes at Google’s AI teams, including Demis Hassabis stepping back and Jeff Dean leaving to start Discovery Loop, an AI company focused on scientific research. We also discuss AI safety issues involving frontier models, plus Meta’s new coding model and its strategy around efficiency. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 DeepMind Leadership Shift 3:20 Jeff Dean’s New Startup 6:05 Automated Research Ambitions 10:08 Agent Breakouts 13:06 OpenAI’s Hidden Incident 18:11 Meta’s Cheap Coding Model 22:55 OpenAI Versus Apple 25:42 DeepSeek 28:28 Mind Control Interfaces 30:40 Nikita Bier Departs X ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Space just dropped it's first earnings report, showing strong Starlink growth and the company’s expanding role in AI compute and infrastructure. In the context of heavy capital spending, the NVIDIA partnership, and share unlocks, short-term volatility is anything but an absolute guarantee. Our main concern though: what does the real, long-term future look like? ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ EMAIL US: info@limitless.fm NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 SpaceX Earnings 4:48 Unlocks and Pressure 6:00 Data Center Economics 7:57 GPU Demand Explodes 12:13 Gigawatts 14:42 Training the Next Generation 17:09 Starlink 22:33 We Try to be Bears 23:36 Cautious Bulls 28:44 Repricing Risk 29:56 Closing ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Leopold Aschenbrenner’s massive liquidation event followed heavy leverage and losses in its AI infrastructure bets. Today, we discuss the July timeline, the sale of the public equity book to Citadel, and the remaining Anthropic stake. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ EMAIL US: info@limitless.fm NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Leopold’s Rise and Fall 2:41 The Unraveling Begins 4:14 Margin Calls and Liquidation 7:03 Citadel Swoops In 9:13 Hunting the Position 10:19 Aftermath 11:25 Anthropic Saves the Fund 13:44 Ken Griffin's History 16:30 Was Leopold Right? 18:41 Bear Case 21:21 Recursive Self-Improvement 22:25 Ledger 23:24 Leverage Lessons 23:59 Closing ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Leopold Aschenbrenner’s AI-focused fund may be facing major losses, along with rumors of position changes tied to its AI exposure. We also discuss Safe Superintelligence’s partnership with NVIDIA, and an open letter from AI researchers urging the U.S. government to slow AI development. We explore Anthropic’s views on open source AI and chip export restrictions, plus market updates from Microsoft, Samsung, Intel, and Apple. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ EMAIL US: info@limitless.fm NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Leopold Fund Trouble 3:15 Ilya’s Quiet Breakthrough 6:30 AI Slowdown Petition 8:56 Open vs Closed Debate 11:08 GPUs Only Go Up 14:14 Ledger Agent Security 14:59 Earnings Season Surprises 17:30 Kimi’s Costly Open Source ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Today, we need to discuss the sell-off in AI and memory stocks, including sharp declines in Korean equities and SK Hynix despite insane earnings. We also cover the fragility of leverage-driven markets, China’s memory industry, and the outlook for continued AI-related demand for chips and infrastructure. ------ 🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒 https://developers.ledger.com/docs/ai-tools/overview/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless ------ 🌌 LIMITLESS HQ ⬇️ EMAIL US: info@limitless.fm NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Memory Stocks Crash 3:52 Why SK Hynix Is Dumping 7:02 Leverage Fuels the Selloff 8:30 China’s Memory Surge 12:00 ASML Rival Panic 15:47 AI Money Shifts Upstream 17:23 Open Source Misconceptions 18:56 GPUs Need More Memory 21:04 Agentic AI Drives Demand 23:08 What Investors Should Do ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.