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Etched raised $1 billion in 26 days. Its valuation jumped from $10.3 billion to $21 billion. The second round was led by Jane Street after it tested Etched’s hardware and installed the first rack in its own data center. So what did Jane Street see? Etched began with Sohu, a Transformer-only ASIC t…
NVIDIA was once so hostile to open source that Linus Torvalds gave the company the finger. Today, it maintains open Linux modules, releases hundreds of models and datasets, and has reportedly agreed to buy Hugging Face for $12.9 billion. WHAT?! The change makes sense once we examine what NVIDIA lea…
An anonymous model called Ox Alpha appeared on OpenRouter and OpenCode on August 20 with a million-token context window, video input, and a price of zero. Within four days it had processed tens of trillions of tokens, and the internet had spent those same four days trying to work out who built it. …
OpenCode began as an open-source coding agent. Now it is selling model access, negotiating directly with suppliers and preparing to reserve its own GPU capacity. That puts it on a collision course with OpenRouter, the model marketplace Stripe has agreed to acquire for a reported $8 billion. This ep…
Demis Hassabis, Yann LeCun, Fei-Fei Li – they all talk about “building a world model.” Some of them are dedicating their professional lives to it! But do they mean the same? So before joining the World Models workshop at Chicago Booth, I wanted to answer a basic question: what do researchers mean …
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