We are so back. Anthropic announced the return of Fable 5, its safety updates, and related releases like Sonnet 5 and Claude Science. 

In other news this week, we look into Meta’s brain-to-text research, OpenAI reports, new inference hardware, and recent robotics demos.

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🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
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TIMESTAMPS

0:00 Fable 5 Returns
3:12 Banned, Safeguarded, Back
7:58 Sonnet 5 And Science
11:33 Meta Reads Your Mind
14:11 Meta's Compute Pivot
17:17 OpenAI's Power Play
23:26 Etched's Chip Breakthrough
27:37 Memory Market Shock
31:02 Robots In The Home
36:54 Industry, Not Housebots
39:01 Episode 200 Milestone

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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 is the long-awaited Energy Stack episode. The AI trade is shifting from GPUs to the power, wiring, and data center infrastructure needed to support them. 

Today, we cover Bloom Energy, optical networking companies like Lumentum and Corning, Marvell’s role in AI hardware, and neocloud providers such as Nebius, CoreWeave, and IREN.

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🌌 LIMITLESS HQ ⬇️

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TIMESTAMPS

0:00 GPU Bottleneck Shifts
0:37 Power Becomes the Constraint
3:15 Five-Year Grid Delays
5:47 Bloom’s Fast Energy Fix
9:54 Data Transfer Hits Limits
11:51 Light Replaces Copper
17:25 Power Delivery Gets Harder
18:22 Marvell Wins Power Design
20:35 Renting Compute at Scale
21:08 Nebius and NeoClouds
25:17 Compute Becomes an Asset
29:47 The Substrate Layer 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.

In this episode, we discuss OpenAI’s restricted GPT-5.6, its model tiers, and questions raised by its benchmark results and reported behavior. We also cover pricing pressure from open source AI models, limited public access to frontier systems, and broader consolidation in the AI industry.

------
🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
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TIMESTAMPS

0:00 GPT 5.6 Banned
1:46 Three New Models
4:51 Benchmarks and Politics
6:43 Cheating on Long Tasks
8:26 Cheaper Frontier AI
11:01 Hidden Risks Revealed
12:34 Closed Access Dilemma
14:26 Government and Public Gap
19:40 Encryption All Over Again
22:04 Waiting for the Framework
23:08 AI Talent Consolidates
24:13 Frontier Moves Faster

------
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're unpacking OpenAI’s plan to build its own custom AI chip—the Jalepeño—and what that means for its hardware strategy. 

We also cover Micron’s strong earnings, its ties to Anthropic, Meta’s next model timeline, and new developments from Google, Amazon, Anthropic, and Valar Atomics.

------
🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
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RSS FEED:           https://limitlessft.substack.com/

------
TIMESTAMPS

0:00 OpenAI’s AI Chip Move
2:46 Compute and Hardware Strategy
5:30 Micron’s Earnings Surge
11:03 Meta’s Mythos Model Delay
14:47 A24 Meets Google AI
17:51 Sam Altman Movie Standoff
19:02 Claude Tag Enters Slack
21:10 Newsletter and Sponsorship Call

------
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

Quantum computing is shaping up to be the next major technology after AI, especially in the wake of U.S. efforts to speed up development and prepare for quantum security threats.

So let's walk through the basics of qubits, the impact on encryption and Bitcoin, and the main companies and applications currently shaping the field.

------
🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
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------
TIMESTAMPS

0:00 Quantum’s Next Wave
3:04 How Qubits Break Encryption
6:35 Trump’s Quantum Executive Orders
9:31 Fault Tolerance Explained
12:11 IBM Enters the Race
15:47 Rigetti and D-Wave
18:33 Quantum’s AI Moment

------
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

The Chinese open-weight AI model GLM 5.2 compares with leading models from OpenAI and Anthropic on coding and development tasks. 

Today, we cover the shift toward cheaper AI models, the difference between open weights and closed models, and the U.S. government’s reported ban on Anthropic’s most powerful model after security testing.

------
🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ
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RSS FEED:           https://limitlessft.substack.com/

------
TIMESTAMPS

0:00 China’s Open Source Comeback
3:05 Benchmarks and Cost
8:15 Markets
10:51 A Six-Month Model Gap
13:56 The Fable 5 Ban
15:56 Public Access and Competition
19:26 Open Source vs Open Weights
21:09 Multi-Model Routing Arrives
25:41 Regulation and the Road Ahead
28:31 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

We discuss Snap’s new AR glasses, AI governance at the G7, and Noam Shazeer’s move from Google to OpenAI. 

We also cover Anthropic’s Fable 5 being shut down, Microsoft’s use of a Chinese open-source model in Copilot, and Meta’s latest AI push.

------
🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
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RSS FEED:           https://limitlessft.substack.com/

------
TIMESTAMPS

0:00 Ridiculous AI Glasses
7:27 AI Summit Tensions
11:46 Noam Shazir Joins OpenAI
15:48 Anthropic’s Fable Shutdown
18:52 Microsoft Embraces Open Source
24:36 Meta’s AI Reorg Crisis
29:15 China’s New Coding Model
32:06 MidJourney Enters Medicine

------
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

Today we're following up on SpaceX’s public debut, its sharp rise in valuation, and whether the move signals a major opportunity or an AI bubble. With the small share float, the upcoming unlock schedule, and the possible impact of added supply on volatility, the stakes are only going to get higher.

We also touch on SpaceX’s reported $60 billion acquisition of Cursor and its connection to AI development... And the big debate: is SpaceX better suited for short-term traders or long-term holders?

------
🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ
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RSS FEED:           https://limitlessft.substack.com/

------
TIMESTAMPS

0:00 SpaceX IPO Shockwave
2:31 Massive Unlock Ahead
6:38 Cursor Deal Explained
9:51 Float and Sell Pressure
13:25 Who Sells First?
15:24 Six-Month Price Outlook
18:24 Long-Term Bull Case
20:26 Trillion Dollar Revenue
22:11 Elon’s Bigger Vision
26:35 Competitors and 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

We discuss Leopold Aschenbrenner’s AI-focused portfolio, including his reported short on NVIDIA and large private investment in Anthropic.

We also cover NVIDIA’s bond offering and the idea that the AI infrastructure trade is shifting toward power, networking, and data-center buildout rather than just chips.

------
🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ
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RSS FEED:           https://limitlessft.substack.com/

------
TIMESTAMPS

0:00 Leopold’s AI Portfolio
1:24 NVIDIA Short Explained
3:43 Bond Deal Breakdown
7:35 Why He Rotated
9:19 Anthropic Surprise Stake
12:19 Next Infrastructure Wave
14:28 Picking the Winners
17:55 Optics and Fiber Edge
22:00 Bubble or Not?
23:25 Energy Is the Bet
24:47 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

This is a turning point for AI. Today, we discuss Anthropic’s release and quick withdrawal of its Fable 5 and Mythos 5 AI models after a U.S. export-control notice raised national security concerns. 

We also cover the reported jailbreak, Amazon’s role in escalating the issue, and what the episode suggests about government involvement in access to frontier AI models.

------
🌌 LIMITLESS HQ ⬇️

NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ
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RSS FEED:           https://limitlessft.substack.com/

------
TIMESTAMPS

0:00 Intro
1:16 The Government Pulls Fable
5:26 Frontier Goes Backward
9:36 Amazon Sounds the Alarm
11:33 Types of Jailbreaks
14:55 Frontier Labs Logic
18:00 Politics and Security
27:29 History Is Happening Now

------
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.