AMD & Anthropic's Partnership, Robinhood's "Platinum" Card & Vanguard's New Fund
July 24, 2026
AI Summary
5 min readOpenAI's IPO Prep, AMD's Anthropic Bet, and the Return of Trump's Tariffs
OpenAI just added two new board members who have nothing to do with artificial intelligence. David Velez founded Nubank, the largest digital bank in Latin America. Robin Vince runs Bank of New York Mellon, a $52 trillion custody bank. Neither is an AI person. Both are Wall Street people, and that tells you exactly what this is about: getting the house in order for an IPO that could come as soon as later this year.
OpenAI's Spending Problem
The numbers behind OpenAI's IPO prep are staggering and contradictory. The company just raised its projected spending on computing power to roughly $750 billion through 2030, up from $600 billion earlier this year. That $600 billion was itself a walk-back. Sam Altman originally told people the company would spend $1.4 trillion on compute by the end of the decade, which so alarmed CFO Sarah Friar that she quietly went behind management's back to reassure investors the real number would be closer to six or seven hundred billion. Now it's creeping back up.
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What you'll learn
- 1 (01:35) **OpenAI's IPO Prep & Spending Spree** - The hosts break down OpenAI's board additions, massive infrastructure spending, and the financial tension ahead of a potential IPO.
- 2 (06:24) **AMD & Anthropic's Massive Chip Deal** - Anthropic signs a tens-of-billion-dollar deal with AMD for AI servers, signaling a major strategic push to diversify its supply chain and win the AI race.
- 3 (09:10) **Anthropic's Midterm Election Spending & AI Regulation War** - Anthropic doubles its 2026 midterm spending to $40 million, putting it in direct political conflict with OpenAI over the future of AI regulation.
- 4 (15:51) **What the AMD-Anthropic Deal Means for Your Portfolio** - The hosts break down the investment implications of Anthropic's aggressive strategy and the broader semiconductor market.
- 5 (20:58) **Trump's New Tariff Playbook & the End of the Trade Truce** - The temporary 10% tariff expires, and the administration is shifting to a more legally durable strategy that could raise tariffs back to 17%.
- 6 (27:51) **Radar Point: New Crypto Bill Text Released** - Senate Republicans circulate a 616-page crypto bill with a White House-approved ethics provision, eyeing a floor vote as soon as next week.
- 7 (30:07) **Radar Point: Buffett Cuts Ties with Gates Foundation** - Warren Buffett walks away from the Gates Foundation after two decades, citing concerns over its ties to Jeffrey Epstein as "distasteful."
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Guests on this episode
Show Notes
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