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Dragonfly managing partner Haseeb Qureshi stated that price movements in onchain Pre-IPO derivatives reflect interesting market expectations for AI lab valuations. He noted that Jacob Coxon's earlier pessimistic remarks about AI risk actually pushed related lab valuations higher, arguing that "scaring everyone seems to be good for business."Haseeb said that after Anthropic CEO Dario Amodei proposed "slowing the frontier race," related valuations were not significantly affected, which is not surprising, since reducing the model race means training spending declines, thereby lowering major capital expenditures. However, after David Sacks publicly criticized Dario, Anthropic's valuation was largely unaffected, while OpenAI's valuation declined, and he raised questions about the reason for this.
According to CNBC, Andrew Bailey, Governor of the Bank of England and Chairman of the Financial Stability Board (FSB), wrote to G20 finance ministers and central bank governors on August 31 to warn that frontier AI models are exhibiting increasingly sophisticated autonomy and threat capabilities, which could fundamentally alter the speed, scale, and economics of cyberattacks, potentially triggering disorderly adjustments across global financial markets. Bailey noted that highly concentrated third-party service providers will become critical nodes of systemic risk, emphasizing that most countries currently lack regulatory frameworks for the development and deployment of frontier AI. He also flagged vulnerabilities in sovereign debt markets, the growing trend of leverage in equity markets, and the overvaluation of AI-related assets, urging governments to accelerate the refinement of relevant safety mechanisms.
Odaily News "White-Haired Stock God" Serenity shared insights on the AI industry chain on the X platform, noting that AI infrastructure demand is driving multiple sectors—including storage, advanced packaging, computing power financing, optical communications, power supply, and electronic components—into a long-term expansion cycle. The AI supply chain remains in a phase of rapid growth.In the storage sector, Serenity cited UBS forecasts indicating that traditional DRAM manufacturers (such as Micron) could see gross margins reach an unprecedented 95% by 2027, potentially even surpassing the gross margin levels of HBM products. Additionally, SanDisk's long-term agreements already cover approximately two-thirds of its 2028 production capacity, with minimum contracted revenue reaching $93 billion. Given its current market cap of around $239 billion, this suggests its future revenue targets could persist for years, making it difficult to simply classify the company as a traditional cyclical stock.On the cloud computing infrastructure front, CoreWeave has signed agreements to use Nvidia A100 GPUs through 2029. This is a positive development for emerging cloud computing companies such as Nebius and Iren, and it also weakens some investors' bearish thesis centered on the rapid depreciation of older GPUs.AI model companies are also continuing to grow at a pace that exceeds expectations. Frontier AI labs are still maintaining extremely rapid growth rates, and a slowdown in growth would actually be a cause for concern. The market projects that Anthropic's 2028 revenue could reach $190 billion to $200 billion.However, advanced packaging and semiconductor infrastructure remain core bottlenecks. The head of advanced packaging at TSMC has stated that in the coming years, the industry may face not only memory shortages but also tight supply of ABF substrates.Serenity concluded that the AI infrastructure supply chain is continuously expanding. From GPUs, storage, and advanced packaging to power, optical communications, and electronic components, every segment is showing a long-term demand growth trend. The AI supply chain is still in a high-speed development stage.
San Francisco-based venture capital firm Framework Ventures has raised a $400 million fund, planning to invest in the intersection of tokenization, stablecoins, and frontier technologies. Framework Ventures co-founder Michael Anderson stated that the firm believes blockchain, through tokenization, will become the financing layer for AI computing power, robotics, and energy infrastructure. The crypto industry has shifted from serving crypto users to solving capital formation problems for real-world industries. (CoinDesk)