Startup

Tesla just tripled its annual capital expenditure to $25 billion in 2026, up from $8.5 billion last year. The money is going into AI infrastructure, chip design, semiconductor research, battery technology, and Optimus robot production. The Fremont factory, which used to make Model S and Model X, is being converted to manufacture Optimus at scale. A dedicated Optimus plant is also being built near Austin. To put the number in context, Musk noted Amazon is spending $200 billion in capex this year and Google $175 billion. The scale gap is real, but the direction is the same. ...

Hyperliquid is one of those stories that forces you to reconsider most of what you think you know about how companies get built. Jeff Yan, Harvard graduate and gold medallist at the International Physics Olympiad, turned down a $1 billion funding offer, never took a dollar of venture capital, and built a crypto trading exchange that generated over $900 million in profit with 11 employees. At three years old, it has a market cap of $10 billion. The numbers are hard to believe. ...

I came across this story and had to read it twice. Not because it was complicated, but because I could not quite believe what I was reading. We are living in strange times, but this one really made me stop. Allbirds, the wool sneaker company, just announced a $50M convertible financing deal to reinvent itself as “NewBird AI”, pivoting the gutted footwear business into a GPU rental operation. The stock went up over 600% on the news, jumping from around $3 to over $20, off a market cap that closed Tuesday at just $22M. Someone, somewhere, in a boardroom, thought this was a good idea and managed to convince others to go along with it. ...