"Amazon alone spent $89.9b in the quarter." Which line item are you looking at here? I assumed that the "Purchases of property and equipment" line was the capex. It was $35.1 billion in Q3 2025.
Great roundup, but I think the most concerning part of OpenAI's transition to a for-profit is that the nonprofit isn't being fairly valued.
The nonprofit is getting ~20% of the for-profit, when a fair number should be more like 50%, which is why Zvi calls it potentially the biggest heist in history.
"Amazon alone spent $89.9b in the quarter." Which line item are you looking at here? I assumed that the "Purchases of property and equipment" line was the capex. It was $35.1 billion in Q3 2025.
Ah, cheers for flagging. That looks like an error. Will correct!
Great roundup, but I think the most concerning part of OpenAI's transition to a for-profit is that the nonprofit isn't being fairly valued.
The nonprofit is getting ~20% of the for-profit, when a fair number should be more like 50%, which is why Zvi calls it potentially the biggest heist in history.
Definitely one of the big issues. Something we went into in our longer writeup of the restructure: https://www.transformernews.ai/p/what-you-need-to-know-about-the-openai-restructure-sam-altman-pbc-foundation