The AI Build-Out Is Inflation’s New Driver

June 25, 2026

AI Summary

5 min read

Almost 25,000 fake accounts were created to pull responses from Anthropic’s Claude model between late April and early June, the company told two U.S. senators in a letter reviewed by the Journal.

Earthquakes Hit Venezuela

Rescue teams are still searching collapsed buildings in Caracas after two strong quakes struck the country on June 24. The U.S. Geological Survey recorded a 7.2 magnitude event followed by a 7.5 magnitude shock roughly 200 miles west of the capital. Venezuela’s acting president, Delcy Rodriguez, reported 32 deaths and at least 700 injuries, with both figures expected to climb. She declared a state of emergency, closed the main international airport, and said rescue teams had arrived from Mexico, the Dominican Republic, El Salvador, and Qatar. President Trump offered U.S. assistance.

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What you'll learn

1 (01:24) **Venezuela Earthquakes** - Rescue workers respond after back-to-back 7.2 and 7.5 magnitude quakes hit near Caracas
2 (02:22) **Anthropic Accuses Alibaba** - Company alleges Chinese lab used 25,000 fake accounts to distill Claude model capabilities
3 (02:48) **Distillation Attack Explained** - Reporter details how the process replicates advanced model capabilities at scale without permission
4 (04:11) **US-China AI Tensions** - Context on prior White House warnings about proxy accounts and the shrinking US lead over Chinese labs
5 (06:11) **Micron Earnings Boost AI Trade** - Strong results revive sentiment; Nasdaq-100 futures and South Korean tech stocks rally
6 (06:46) **Oil Prices Continue Falling** - WTI trades below $70 a barrel near pre-war levels
7 (07:08) **AI Build-Out Adds Inflation Pressure** - DRAM and NAND chip shortages push up costs for phones, appliances, and electronics

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Guests on this episode

Gina Raimondo

Show Notes

A.M. Edition for June 25. Two powerful earthquakes rock Venezuela’s capital, rattling other cities and leaving dozens dead. Plus, Anthropic claims Chinese tech-giant Alibaba ran a brazen campaign to access its Claude model. And WSJ economics reporter Justin Lahart explains why the massive AI build-out is becoming a new catalyst for inflation, driving up prices for components and electricity. Luke Vargas hosts.

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