Does OpenAI Need a Bailout? Mamdani Wins, Socialism Rising, Filibuster Nuclear Option

ChamathCommentary

Chamath is an investor in OpenAI and bullish on the AI supercycle broadly, viewing the $1.4T spend commitment as manageable given expected revenue growth to $100B+ and deal flexibility.

“I know, and I talked to Sarah this morning about this, are deeply grateful for what the federal government is doing to accelerate the buildout of power and infrastructure.”▶ Listen · 14:59 ⚑

Brad Gerstner is a bull on OpenAI, holding shares and wanting to buy more, citing rapid revenue growth toward a $20B run rate and belief in the long-term AI supercycle.

“He knows that I don't want to sell my shares. He knows that I would like to buy more shares in the company. We will end the year on a $20 billion forward run rate.”▶ Listen · 3:04 ⚑

Brad Gerstner briefly characterizes Meta's earnings as terrible in the context of the AI earnings season, a negative data point on its AI business trajectory.

“Facebook's was terrible.”▶ Listen · 7:34 ⚑

Brad Gerstner highlights Anthropic's revenue chart as the most impressive of the AI companies, noting it reaches profitability without burning through as much capital as OpenAI, making its path to free cash flow more efficient.

“The most impressive revenue chart when you showed that leak from OpenAI was Anthropic. If that revenue chart is real, what's really impressive is Anthropic is not really in a J-curve at all, and they get to very similar points of free cash”▶ Listen · 34:29 ⚑

Brad Gerstner notes Google's earnings were phenomenal with blazing hot AI numbers, and expresses enthusiasm for Gemini 3 as a competitive product, suggesting Google is coming back strongly.

“Google's earnings were phenomenal. Their AI numbers were blazing hot.”▶ Listen · 7:31 ⚑