James Altucher:

Nvidia Plans To Invest up to $100 Billion in OpenAI as Part of Data Center Buildout

Nvidia will invest up to $100 billion in OpenAI as the artificial intelligence lab sets out to build hundreds of billions of dollars in data centers based around the chipmaker’s AI processors, the companies said on Monday.

OpenAI plans to build and deploy Nvidia systems that require 10 gigawatts of power. A gigawatt is a measure of power often used to describe the biggest clusters of AI chips.

Nvidia CEO Jensen Huang said during an interview that the 10 gigawatts is equal to between 4 million and 5 million graphics processing units (GPUs), which is what the company will ship in total this year and “twice as much as last year.”

“This is a giant project,” Huang said in the interview, alongside OpenAI CEO Sam Altman and Greg Brockman, the company’s president.

Nvidia’s first investment of $10 billion will be deployed when the first gigawatt is completed, according to a person familiar with the matter. Investments will be made at then-current valuations, said the person, who declined to be named because the details are private.

Nvidia stock rose almost 4% yesterday, instantly adding close to $170 billion in value to the company’s market cap, which now sits near $4.5 trillion.

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Chris Campbell:

There Are Now More Crypto Millionaires and Billionaires Than Ever Before Amid Bitcoin Boom

The total number of crypto millionaires and billionaires has grown by 40% and 29% respectively over the course of the last year, according to the Crypto Wealth Report published by investment consultants Henley & Partners. 

Based on data ending on June 30, the report indicates there are approximately 241,700 crypto millionaires and 36 crypto billionaires globally, setting new records for crypto wealth.

“This significant growth coincides with a watershed year for institutional adoption, highlighted by the first-ever cryptocurrencies launched by a sitting U.S. president and first lady,” the report reads.

Bitcoin’s sharp rise played the biggest role in creating new wealth, with Bitcoin millionaires alone jumping 70% in the last 12 months to 145,100. The count of new Bitcoin centi-millonaires, or those with at least $100 million, and Bitcoin billionaires have also jumped 63% and 55%, respectively.

The largest cryptocurrency by market cap has seen its price rise 78% in the last year, now changing hands at $112,881 — or more than 5% higher than it was on June 30, the final day of data collection for the newly published report.

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Davis Wilson:

Meta Launches Super PAC To Fight AI Regulation As State Policies Mount

Meta has raised the stakes in Big Tech’s fight against AI regulation. The Facebook-maker is investing “tens of millions” of dollars into a new super PAC to fight state-level tech policy proposals that could stifle AI advancement.

Meta’s pro-AI PAC, called the American Technology Excellence Project, is the company’s latest effort to combat policies it sees as harmful to the development of AI. Last month, Meta launched a California-focused PAC to back tech-friendly candidates in state races.

The new super PAC will reportedly be run by Republican veteran Brian Baker and Democratic consulting firm Hilltop Public Solutions, and will work to elect tech-friendly politicians from both parties in next year’s midterm elections. 

The organization will focus on promoting and defending U.S. tech companies and leadership, advocating for AI progress, and putting parents in charge of how their children experience online apps and AI technologies.

Meta has not shared which states its super PAC would focus on.

The PAC comes at a time when many states are proposing AI regulations, spurred by a perceived failure of the federal government to address the issue. More than 1,000 bills were introduced in all 50 states related to AI during the 2025 legislative session.

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