BREAKING: Elon Musk’s new full interview with CMG.
0:15 On Xi Jinping
1:03 Tesla Shanghai factory
2:27 Cybercab rollout
3:55 Speed of AI breakthroughs
4:29 Grok 4.7 and Grokbot
5:48 SpaceX/Tesla data for real-world AI
6:48 Chinese AI models and the compute gap
8:16 China’s electricity output
9:01 US-China AI safety
9:27 Humanoid robots and Optimus
10:55 1 billion robots in 10 years
13:04 Money may not matter
16:27 10 billion to 100 billion robots
17:09 Space cooperation and Mars
21:07 Neuralink and human bandwidth
22:37 Education in the AI era
24:02 Visit Shanghai, and Beijing
24:38 Beijing high-speed rail
24:59 “Words do not do justice to China”
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Check out Muse, your personal AI agent. Redeem my code in Settings within 48 hours of joining and we'll both get 1 billion Muse tokens.
Code: PCCRNE
Stunning stat: "Anthropic’s investors are expecting the company to reach a valuation of $2tn when it goes public in the coming weeks. Add in SpaceX, which began trading at $2tn after its IPO in June, and OpenAI, which is considering raising money privately at $1.2tn ahead of a public listing next year, and these companies alone could be worth well north of $5tn. Now compare that with the entire history of IPOs from 1980 to 2025. The 3,365 tech companies that went public in that period were worth a combined $4.1tn when they started trading."
While I've written much about AI's transformative potential across sectors, I've always been dubious about how much value hyperscalers can seize enabling that transformation. As I dissect in my recent report on "The AI Trade" ( it's not about user acquisition. OpenAI claims to have over one billion active users across its services and two million businesses using its AI models. Anthropic has claimed to have more than 300,000 business customers. The question is not whether they can bring users to their services, but rather how much average revenue they can generate per customer relative to the price of building and maintaining their models. The cost of compute is inflating at the same time competition is depressing token pricing power. That's a precarious dynamic when so much hinges on the success of two companies.
To again quote the report:
"It’s hard to overstate how much hinges on these IPOs. As mentioned in the Executive Summary, OpenAI and Anthropic will account for 13% of AWS revenue and 27% of Google Cloud revenue this year. As for Microsoft, OpenAI alone accounts for roughly 70% of its AI-specific revenue ($24.1 billion out of an estimated $34 billion total for the fiscal year ending in June 2026). OpenAI has committed to tens of billions of spending on chips from the likes of Nvidia and Broadcom. Deepening circularity concerns, tech giant earnings growth has been increasingly driven by paper gains in the private-market valuations of Anthropic and OpenAI. In Q2, Amazon, Alphabet, Nvidia, Meta, and Microsoft reported $160 billion in cumulative “other income”, trouncing the $69 billion in “other income” reported in Q1. To quote the FT: “These one-off valuation boosts, derived in large part from enthusiasm around AI, risk distorting the financial picture at a time when investors are closely scrutinizing tech earnings.” If either Anthropic or OpenAI stumble in their IPOs, it’ll hit tech giants on multiple balance-sheet fronts and likely ripple through the US and global economy. A pin-prick popping of the AI bubble may not be our base case, but if a pin is out there, it’s likely the revenue versus spending trajectories of Anthropic and OpenAI."
FT link:
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Breaking News: Meta reached a landmark settlement of up to $17.1 billion with 47 states, D.C. and U.S. territories and has to make major changes to its products over claims it endangered children with addictive social media platforms.
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me as your wife or 1 billion dollars… be honest
We posted our second quarter 2026 financial and operational results →
Q2 highlights:
- Demonstrated the power of extreme vertical integration, delivering revenue growth of 92% year-over-year across Space, Connectivity, and AI
- Completed two successful Starship V3 flight tests in the past 90 days, advancing towards full and rapid reusability
- Closed multiple industry-leading Cloud Services Agreements resulting in $14.1 billion of contracted sales
- Announced agreement to acquire Cursor for $60 billion to accelerate the AI enterprise opportunity
- Released our most powerful AI model yet with Grok 4.5 in July
- Delivered 66% revenue and 79% income from operations growth year-over-year for the Connectivity segment, driven by a doubling of Starlink Subscribers and continued momentum in Enterprise & Government
- Awarded over $6 billion in multi-year U.S. government contracts for Starshield
As compared to the same quarter last year:
- Revenues of $7.8 billion, up 92% from $4.1 billion
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
- Adjusted EBITDA of $3.5 billion, up 191% from $1.2 billion
Thank you to the SpaceX team, and all our customers and investors for a great quarter!
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We posted our second quarter 2026 financial and operational results →
Q2 highlights:
· Demonstrated the power of extreme vertical integration, delivering revenue growth of 92% year-over-year across Space, Connectivity, and AI
· Completed two successful Starship V3 flight tests in the past 90 days, advancing towards full and rapid reusability
· Closed multiple industry-leading Cloud Services Agreements resulting in $14.1 billion of contracted sales
· Announced agreement to acquire Cursor for $60 billion to accelerate the AI enterprise opportunity
· Released our most powerful AI model yet with Grok 4.5 in July
· Delivered 66% revenue and 79% income from operations growth year-over-year for the Connectivity segment, driven by a doubling of Starlink Subscribers and continued momentum in Enterprise & Government
· Awarded over $6 billion in multi-year U.S. government contracts for Starshield
As compared to the same quarter last year:
· Revenues of $7.81 billion, up 91.9% from $4.07 billion
· Net loss of $541 million, an improvement of $467 million from net loss of $1.01 billion
· Adjusted EBITDA of $3.54 billion, up 191% from $1.21 billion
Thank you to the SpaceX team, and all our customers and investors for a great quarter!
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