Keep pulling the thread on Scott Bessant.
OpenAI and Anthropic are positioning to go public in late 2024 or early 2025.
Treasury Secretary Scott Bessant has proposed that Chinese AI companies could face sanctions as a response to distillation attacks.
The White House alleges that Moonshot AI used a sophisticated internal platform to perform large-scale distillation of Anthropic's Fable model for the development of its K3 model.
The White House alleges that Moonshot AI has acquired and gained access to NVIDIA GB300-equipped servers in Thailand to train its AI models.
The US Commerce Department has an active investigation into Moonshot and other Chinese labs for circumventing export controls to access NVIDIA GPUs.
The Trump administration is divided on how to respond to China's AI models, with the White House favoring stricter controls and the Commerce Department viewing them as unworkable.
Commerce Secretary Howard Lutnick is advocating for incentives to encourage US labs to open-source their models as a way to compete with Chinese AI.
AI investment now represents 25% of US GDP growth, the largest contribution from a single sector in history.
Since the release of ChatGPT in late 2022, AI has driven 75% of returns in the S&P 500.
Since late 2022, AI has accounted for 80% of earnings growth in the S&P 500.
Since late 2022, AI has driven 90% of capital spending growth in the S&P 500.
Approximately 50% of the S&P 500 is now composed of AI or AI-exposed stocks.