If you understand what's going on out there, you know we can't lose Bessent to the Federal Reserve. He's right where he needs to be. Dogs like to bark.
Brad Gerstner: “A big question I keep hearing is how can OpenAI do $13B in revenue but have $1.4T in spending commitments?”
Sam Altman: “We are doing more revenue than that & if you want to sell your shares, let me know. It’d be cool to be public so I could tell the loudest voices to just short the stock.”
It was a busy week with many macro catalysts (Us-China, Fed, Mag7 earnings and Zelle/Stabledoins). Pomp and I go through it all and how the last two months look for assets.
BREAKING 🚨 Mark Carney's government reveals an $11.1B DEFICIT for the months of April-August, which is almost 100% HIGHER than in 2024.
Will Canada go BANKRUPT under this Liberal government?
AWS activates Project Rainier: One of the world’s largest AI compute clusters comes online.
~500,000 Trainium2 chips, and Anthropic is scaling Claude to >1,000,000 chips by Dec-25, a huge jump in training and inference capacity.
AWS connected multiple US data centers into one UltraCluster so Anthropic can train larger Claude models and handle longer context and heavier workloads without slowing down.
Each Trn2 UltraServer links 64 Trainium2 chips through NeuronLink inside the node, and EFA networking connects those nodes across buildings, cutting latency and keeping the cluster flexible for massive scaling.
Trainium2 is optimized for matrix and tensor math with HBM3 memory, giving it extremely high bandwidth so huge batches and long sequences can be processed without waiting for data transfer.
The UltraServers act as powerful single compute units inside racks, while the UltraCluster spreads training across tens of thousands of these servers, using parallel processing to handle giant models efficiently.
AWS says Project Rainier is its largest training platform ever, delivering >5x compute than what Anthropic used before, allowing faster model training and easier large-scale experiments.
For energy use, AWS reports a 0.15 L/kWh water usage efficiency, matching 100% renewable power and adding nuclear and battery investments to keep growing while staying within its 2040 net-zero goal.
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aboutamazon. com/news/aws/aws-project-rainier-ai-trainium-chips-compute-cluster
Here’s what happened in October @Coinbase:
• Started collaborating with @Citi to build the future of payments.
• Released our Q3 2025 financial results with $1.8B net revenue.
• Acquired @echodotxyz to further our mission of growing economic freedom worldwide.
• Expanded our commitment to India and the Middle East through a new investment in @CoinDCX.
• Rolled out DeFi lending for USDC, giving users a new way to earn more from their assets in applicable markets.
• Partnered with @Samsung to bring crypto 75+ million Samsung Galaxy users in the U.S.
• Launched DEX trading to all U.S. users (except NY) - explore millions of assets, moments after they launch, right from the Coinbase app.
• Applied for a @USOCC national trust charter, paving the way for innovation and growth in building a modern financial system powered by digital assets.
• Hit $1B of onchain loans generated through Coinbase using BTC as collateral.
• Brought crypto staking on Coinbase to New York.
• Launched the Coinbase Pay Tab, enabling peer-to-peer transactions and allowing Coinbase users to send money to over 100+ countries using crypto.
• XSGD and AUDD went live on @base and were listed on Coinbase, continuing our mission of enabling everyday payments for people around the world in their native currency. Base now has the largest network of local stablecoins across 16 currencies.
• Rolled out Blue Carpet for asset issuers, a new asset listing experience to increase accessibility and transparency for onchain builders.
• @CoinbaseDev launched CDP Embedded Wallets for everyone building onchain, so builders can integrate self-custody wallets into any app.
• Released the Coinbase One Card to everyone in the U.S., enabling cardholders to earn up to 4% in Bitcoin on every purchase.
• Handed out Clari-Tea in Washington D.C. to remind Capitol Hill that crypto voters are watching closely and we need CLARITY, while @brian_armstrong met with Senators from both sides of the aisle to help create clear rules that protect innovation in DeFi.
• @CoinbaseDev gave AI agents access to wallets and onchain payments via x402 through the release of Payments MCP, seeing the protocol explode in usage.
• Added a new suite of business payment tools to @CoinbaseBiz.
• Open-sourced the Coinbase Design System.
Okay, back to shipping.
Pod up: 90 minutes with Bestie Elon! 🚀
@elonmusk joins to talk:
-- Three years of X
-- Grokipedia
-- Tesla vote and his future with the company
-- OpenAI lawsuit and for-profit conversion
-- AI power efficiency
-- Self-driving, robotaxis
-- Bill Gates flips on climate
-- Solar, nuclear, and the future of energy
(0:00) Disgraziad Corner: The most disgraceful things of the week!
(3:10) Elon on X's new algorithm, why there has been so much Sydney Sweeney content lately
(11:35) Creating Grokipedia: Wikipedia's failures, the future of information on the internet, confirmation bias
(24:52) Three years of X: Looking back on the Twitter acquisition and how it changed free speech on the internet
(42:49) Tesla vote on Elon's compensation, would he leave Tesla if it doesn't pass?
(47:40) OpenAI lawsuit, for-profit conversion, how much Elon should own, OpenAI's great irony
(56:24) AI power efficiency, Robotaxis, future of self-driving
(1:09:34) Bill Gates flips on climate change, solar, energy production