IBM Nukes, Demis Govt Plan, Paramount WBD Deep Dive | Dylan Byers, Noah Schochet, Saam Motamedi, Ioannis Antonoglou, Jack Dent, Evan Burns & Jamie Seltzer, Tyler Page

July 14, 2026

AI Summary

5 min read

IBM’s Record Rout, Demis Hasabis’s Regulatory Blueprint, and the Paramount-WBD Deal Deep Dive

IBM suffered the worst single-day share decline in its 115-year history on Tuesday, with the stock plunging 25% after the company signaled a fundamental shift in customer spending away from mainframes. The rout came despite IBM having roughly doubled since ChatGPT launched, driven by its Red Hat acquisition and a strong mainframe cycle. The core problem: AI capital expenditure is flowing overwhelmingly into GPUs, memory, networking, and hyperscale infrastructure, and IBM is losing share of its customers' technology budgets. While Red Hat OpenShift remains a genuine asset for orchestrating AI workloads across distributed systems, the broader narrative reset around IBM's server business was severe enough to erase roughly a quarter of the company's market value in a single session.

Demis Hasabis Calls for a U.S.-Led AI Standards Body

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What you'll learn

1 (00:20) **IBM Stock Plunges 25%** - The stock drops on a narrative reset around their server business and a shift away from mainframe spending toward the physical AI build-out.
2 (07:41) **Demis Hassabis Calls for US-Led AI Standards Body** - The Google DeepMind CEO advocates for a new federal body to test frontier AI models, proposing a detailed regulatory framework.
3 (20:10) **New York Pauses AI Data Centers** - Governor Kathy Hochul signs an executive order for a one-year moratorium on new large-scale AI data centers (50+ MW) while the state develops a regulatory framework.
4 (23:59) **Ken Griffin on Data Centers & Aesthetics** - The Citadel CEO discusses the necessity of data center build-out, while a WSJ article explores efforts to make them more architecturally appealing.
5 (28:14) **Soft Floating Robot for Indoor Interaction** - Researchers build a cute, helium-filled robot that uses flapping fins instead of propellers, designed to be a safe, quiet consumer product.
6 (29:21) **Dylan Byers on Sun Valley & WBD-Paramount Deal** - The Puck founding partner discusses the dynamics of the Allen & Company conference and provides a deep dive into the Warner Bros. Discovery-Paramount merger.
7 (49:04) **Creator Economy & AI in Hollywood** - The panel discusses the impact of YouTube blockbusters and AI-generated short-form drama apps on the traditional media landscape.

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Show Notes

(00:21) - IBM Nukes
(07:36) - Demis Govt Plan
(20:08) - NY Pauses AI Datacenters
(25:38) - Can Pretty Data centers Win?
(27:58) - Clanker Whales
(29:23) - Dylan Byers, a founding partner and senior correspondent at Puck, is known for his in-depth coverage of the media industry. He discusses the challenges David Ellison faces in merging Warner Brothers Discovery with Paramount, highlighting opposition from Democratic state attorneys general, particularly California's Rob Bonta, who seeks to block the deal on grounds that Byers argues are outdated given the current media landscape. Byers also touches on the potential for Hollywood studios to relocate operations in response to regulatory pressures, emphasizing the evolving nature of the entertainment industry.
(59:54) - Noah Schochet, co-founder and CEO of TerraFirma, discusses how he and his co-founder, both former SpaceX engineers, founded the company to revolutionize the construction industry by integrating robotics and automation to accelerate building processes. They retrofit existing heavy machinery with custom-built software and hardware, enabling remote operation and increased efficiency. Schochet emphasizes that while full autonomy may not be cost-effective due to construction's numerous edge cases, achieving approximately 75% autonomy with human oversight can significantly enhance productivity.
(01:10:58) - Saam Motamedi, a partner at Greylock Partners, focuses on early-stage investments in AI, cybersecurity, and enterprise software. He discusses Greylock's new $1.5 billion fund, Greylock 18, aimed at supporting early-stage founders, particularly in AI. Motamedi emphasizes the vast opportunities in AI across the technology stack, from foundational models to applications, and highlights the potential for multiple significant winners in emerging categories due to the transformative impact of AI on various industries.
(01:21:48) - Ioannis Antonoglou, co-founder, president, and CTO of Reflection AI, previously served as a founding engineer at DeepMind, contributing to projects like AlphaGo and AlphaZero. In the conversation, he discusses Reflection AI's mission to develop frontier open models, emphasizing the need for exceptional talent and substantial computational resources, exemplified by their recent billion-dollar deal with Nubius. He also reflects on the rapid advancements in AI over the past 15 years, highlighting the importance of adaptability and the exponential nature of progress in the field.
(01:31:25) - Jack Dent, co-founder and president of Chai Discovery, discusses the company's development of an AI-driven platform for molecular design, likening it to a "Computer Aided design suite for molecules" that enables the creation of new medicines. He highlights the platform's focus on the pharmaceutical industry, emphasizing its potential to revolutionize drug discovery by designing