Yan Zhan

[Serenity @aleabitoreddit]

I asked OpenAI Astra Ultra + Anthropic Fable 5.1 Max to make me a 5x-10x return type portfolio in 1 year.

Burnt a lot of credits, and the results are in:

OpenAI: - $KYTX (autoimmune CAR-T results)
- $PRQR (human RNA-editing datasets)
- $VSTM (KRAS cancer-drug)
- $CNTB (asthma and COPD)
- $RANI (oral biologics)
- $IVA (MASH)
- $SILC (networking + inference hardware)
- $AMPX (batteries)
- $EOSE (batteries)
- $ZVRA (rare-disease drug growth)

Anthropic: - $INO (respiratory papillomatosis)
- $CAPR (PDUFA for deramiocel)
- $GOSS (seralutinib)
- $SLS (Phase 3 binary)
- $IREN (familiar face)
- $WULF (familiar face)
- $OKLO (nuclear)
- $SMR (nuclear)
- $RGTI (quantum)
- $QBTS (quantum)

*Disclosure don't own any of these aside from 1 share in IREN, not a recommendation, just TLDR of LLM output for educational purposes.

So very interesting results:

Our beloved AGI Astra prefers really obscure biotech I've never heard about. And a few familiar names like $EOSE and $AMPX.

And Fable... yeah idk, feels like it learned a little too much from /r/wallstreetbets and X but maybe it's right, who knows.

Anyway no judgement, I'll save this and revisit it in a few months. If one of them actually delivers... I'll be impressed.

[Yan Zhan @YanZhan89]

@chaixiayan 知性，优雅！

[Evan @StockMKTNewz]

Meta Platforms $META now generates $2.9 Million of annual revenue per employee, a new high for the company

[Evan @StockMKTNewz]

The 🇺🇸 National Debt currently sits at

$40,117,045,127,072.57

[Leopold Stock Tracker @LeopoldTracker_]

Breaking: Leopold's full letter sent to his LPs last night

Leopold Aschenbrenner’s fund fell 67% in July but remains up 80% YTD and he announced he'll keep investing in public equities

[Yan Zhan @YanZhan89]

@xuemanzi8848 Great insight:Skill and 结算。

[薛蛮子 Charles @xuemanzi8848]

看来大家对“算力+能源”这个话题确实感兴趣，那今天再说说美国那边在干什么，
先看一个数字：8300亿美元。

这是北美四大云服务商（微软、谷歌、亚马逊、Meta）2026年预计的资本支出总和。全部砸向AI数据中心和能源基建。这已经不是投资，而是军备竞赛。

美国的核心打法就一招——哪里能源便宜，就把数据中心建在哪里。

最典型的例子是得克萨斯州。

微软今年6月宣布，在得州佩科斯市新建一个数据中心园区，一次性扩充约2吉瓦算力容量。���时跟能源巨头雪佛龙签了一份20年供电协议——雪佛龙利用二叠纪���地“多到用不完”的过剩天然气就地发电，总装机容量2.67吉瓦，直接绕过电网直供微软数据中心。项目预计2028年首次供电，价值约70亿美元。

亚马逊更狠。8月宣布在得州佩科斯县建一个叫“GW Ranch”的项目——7.65吉瓦的天然气电厂配套AI数据中心。35台燃气轮机，如果全部建成，将是全美最大的天然气发电设施之一。初期完全独立运行，不接入公共电网。

Meta也没闲着。7月跟贝莱德联手，投140亿美元在得州埃尔帕索建1吉瓦的AI数据中心园区。Meta占20%股权，贝莱德管钱。2028年起分阶段投产。

还有马斯克的SpaceX AI，也在得州选址建至少一座吉瓦级数据中心，规模对标甚至超过孟菲斯基地。一季度AI资本支出已经飙到77亿美元，是去年同期的三倍。

谷歌的布局更分散一些——密苏里州投150亿美元建数据中心，阿拉巴马州再投15亿美元扩建。同时在得州启动Meitner能源中心，配套超1吉瓦的风能+太阳能+储能。还花了47.5亿美元收购清洁能源开发商Intersect Power，自己掌握电力供应。

为什么全是得州？

两个原因。

第一，天然气便宜得离谱。 二叠纪盆地是美国最大油田，开采石油时伴生大量天然气，多到管道运不完，只能就地烧掉。这导致当地天然气价格极低，用来发电成本优势巨大。得州规划中的数据中心电力项目总计33吉瓦，占全美超过四分之一。

第二，绕过电网。 美国很多地方电网老旧、扩容慢，而且民众反对建新电厂。科技巨头干脆自建电厂直供数据中心，不跟民用电网抢资源。微软的项目“不会从电网取电”，亚马逊的项目“初期作为独立电力系统运行”。

这就跟乌兰察布的逻辑完全不一样了。

乌兰察布靠的是“冷”和“风”——年均4.3度天然风冷，风电便宜。美国的打法靠的是“气”——页岩气革命留下的廉价天然气，就地发电直供。

中国做地理题，把算力搬到风旁边、冷空气里。美国做能源题，把发电厂直接建在数据中心隔壁。

这背后反映的是两个国家的资源禀赋差异。中国西部有风有光有冷，美国中部有气有地有政策。各走各的路，但核心逻辑一样——AI竞赛打到第三层，拼的不是算法，是电和地。

还有一个趋势值得注意：美国巨头不光自己发电，还在买核电站。微软要重启三里岛核电站，亚马逊买了核电站权益，谷歌在投小型模块化反应堆。这是更长远的布局——天然气是过渡，核能才是终极答案。

上篇我说乌兰察布等这个牌桌等了几十年。美国这边也一样——二叠纪盆地的天然气烧了几十年，终于等来了AI。

同一张牌桌，中美出的牌不一样，但赌注都是一样大。

AI 时代知识已经很便宜了，我觉得最重要的每个人的关注点，还有思考的方式，个人观点，AI 提供的数据，不喜勿喷，不喜勿看，不喜勿关…嘴里留德

#乌兰察布 #AI算力 #中美算力竞赛 #得州数据中心 #AI能源战

[Ark Invest Tracker @ArkkDaily]

NON-HUMAN TRAFFIC JUST PASSED HUMAN TRAFFIC ON CLOUDFLARE $NET

The internet is shifting from human clicks to AI agents, bots, and machine-driven traffic:

- Cloudflare says non-human traffic surpassed human traffic on its platform for the first time
- CEO Matt Prince estimates non-human internet traffic could outweigh human traffic by 1,000x within five years
- If 1% to 10% of agentic traffic is monetized through microtransactions, it could mean 10M to 100M transactions per second, or 500x to 5,000x Visa $V peak volume

[Scarlett @AItechscarlett]

Elon Musk: "China's AI industry is too strong, I can't win, this is it."

Even Elon Musk, the world's richest man and owner of America's largest-scale AI facilities, has outright declared that "China will win the AI development race," sending shockwaves around the world.

To sum up super simply why America—supposedly ahead in chips and funding—is losing to China ↓

・The real bottleneck isn't chips, it's "power": No matter how many high-performance AI chips you stockpile, America just doesn't have the electricity to run them (like having no outlets to plug into)

・China's power generation is on another level: China alone is already generating more electricity than the combined total of "America + Europe + India"

・America has a "5-year wait" just to connect to the grid: Infrastructure development is so slow that even Elon himself gave up waiting and is forcibly running his AI by lining up his own generators

・China's weakness (semiconductor shortages) will vanish in just a few years: Fixing America's power shortages will take "decades," but China's semiconductor self-sufficiency will be complete "in a few years"

While America has been stuck in place for years with "chip export restrictions," China has been building a "mega power grid capable of running AI infinitely."

The moment China achieves self-sufficiency in cutting-edge chips, the AI supremacy battle might be completely settled.

[AYi @AYi_AInotes]

大家别再盯着各家大模型跑分了，xAI 联合创始人 Jimmy Ba 这场 20 分钟闭门访谈，
直接把未来两年的 AI 终局给掀了个底朝天:
11 万张顶级芯片在后台狂烧，不是为了卖那几分钱的 Token，
而是要把所有基准测试直接刷穿，批量制造能直接入职的真人替身员工

全网都在传各种零碎八卦，我把这场 20 分钟原汁原味的访谈通读了一遍，
最值钱的干货就这三条暴论:

1️⃣ 效率提升 10 倍，绝不是停下堆算力的理由:
就算架构优化让模型省了十倍算力，为什么不顺势造一个聪明十倍的大脑？
知识本质上就是前人压缩过的计算，不探索更大的算力空间，整个领域就会在原地踏步

2️⃣ 别再单项刷题了，要直接训练职业:
AIME 满分、GPQA 刷穿，做题能力今年夏天就要被全盘封顶了，
接下来不是去比谁���会做数学题，而是像律师、金融分析师、全栈工程师一样，
把几十种能力打包成能 7x24 小时独立上岗的数字员工，按创造的价值收费，而不是按 Token 算零钱

3️⃣ 组织架构绝不能超过三层:
在 AI 狂奔的周期里，团队多一层汇报就是一次严重的信息有损压缩，
全员按 10 倍效能假设去搭，组织带宽比官僚层级重要一万倍

从在屏幕里搬比特，到放出 100 万个物理机器人去真实世界搬原子，
大模型的下半场，真被 xAI 给彻底挑明了啊

[Alex @obchakevich_]

The payments table tells a story nobody planned.

@Visa is up 5% for the year, @Mastercard barely 1%, and @circle - down 42% over twelve months - just gained 30% in a single month. Read quickly, it looks like noise. Read slowly, it's the market changing its mind about who actually earns money on stablecoins.

The old thesis was simple: pay a premium for distribution, avoid the issuers. Visa ( $V ) and Mastercard ( $MA ) own the rails, the merchants, the habits of 8b cards.

Circle ( $CRCL ) owns a token and an interest rate. When rates fall, circle bleeds; the giants just keep clipping their 2-3%.

That thesis is quietly breaking from both ends. Circle stopped being a pure rates trade - a federal trust bank charter, a swing to profit in Q2, transaction revenue doubling. @USDC did $849b in july volume, 62% of the entire market.

The rally isn't a discovery, it's a correction of an overdone funeral. The stock still sits 58% below last year, insiders are selling, and wall street can't agree on a target within a factor of two. But the business underneath has changed shape.

Meanwhile the "safe" side got less safe. Mastercard paid $1.8b for @BVNKFinance - the same firm that powered Visa's stablecoin payouts, which is the kind of irony m&a lawyers dream about.

Both networks joined the open standard consortium behind $OUSD. They are no longer toll collectors watching the disruption from a bridge; they are issuers now, competing in the market they were supposedly immune to.

And the reason is visible on-chain: $33t in stablecoin transfers last year, growing 72%, with AI agents learning to route around anything that charges interchange.

So the divergence in the table isn't old rails versus new rails. It's a market splitting one bet into three - distribution, issuance, and the consortium coin that could squeeze both.

The premium for standing still just stopped being free.

Data: @artemis

[Naruto @NarutoNolimits]

Elon Musk explains why you should never charge an electric car to 100%

The last 20% is not a small ask.

Elon: "getting from 80 to 100, it takes about as much time as getting from 0 to 80"

It runs backwards from how people fuel a car.

Elon: "it's a little counterintuitive, because for a gasoline car you would fill it up"

Inside the battery, ions are looking for somewhere to go.

Elon: "the lithium ions are trying to find a parking space"

Elon: "when the parking lot's empty, they can zip right in there and find a spot, it's easy"

Elon: "as the parking lot gets full, just like trying to find a parking space at a mall, you have to hunt around for a spot"

So on a road trip the rule flips.

Elon: "you actually want to charge to about 80%, and then run it down all the way to 10%, or less"

[Sarah Wang @sarahdingwang]

https://t.co/hSWR1zQ0iQ