Keep pulling the thread on Sumitomo Bank.
Meta is reportedly planning to launch a cloud business to sell its excess AI compute capacity.
Ed Zitron believes Meta's decision to sell compute capacity is a sign that the company is abandoning its internal AI product strategy.
Meta has a $17 billion compute contract with Nebius and a $22.4 billion contract with CoreWeave.
Ed Zitron believes that if OpenAI or Anthropic sign a deal to buy compute from Meta, it will signal the end of the current AI hype cycle.
Ed Zitron estimates that OpenAI and Anthropic account for 80% of all AI compute usage.
There is allegedly over 100 gigawatts of AI compute capacity currently under construction.
OpenAI has reportedly delayed its IPO, which was previously expected in 2026.
According to The Times, OpenAI delayed its IPO because its advisors could not secure a desired trillion-dollar valuation.
SoftBank was unable to secure a $6 billion margin loan from banks when using its OpenAI shares, valued on paper at over $100 billion, as collateral.
The Supreme Court ruled that the president can fire members of independent federal agencies, such as the Federal Trade Commission, without cause.
The Supreme Court struck down limits on how much political parties can spend on behalf of candidates.
The Supreme Court's decision in Trump v. Slaughter overrules the 1935 precedent from Humphrey's Executor v. United States.