Sam Altman just offered Washington 5%

Not a fine. Not a settlement. A gift — and that’s the interesting part

When the regulator holds shares — the week Washington became AI’s business partner

A reported 5% stake. A 30-day review window. The permission economy we mapped last week just published its price list.

The AI Investing Framework

The customer just became the competitor

Meta wants to rent chips out. Anthropic wants to build its own. Mind the middleman. The biggest customers in AI just stopped acting like customers. On Wednesday, Meta added $150 billion of market value on a report that it plans to rent out its spare computing power

The customer becomes the competitorMeta wants to rent out its computers. Anthropic wants to build its own chips.

Meta was reported to be building a cloud business to sell the computing power it doesn’t use; Anthropic turned out to be designing its own chip. Neither plan is confirmed. The market repriced roughly $60 billion of other people’s equity anyway.

Fable 5 is back - with strings attached: Usage credits, ID checks and a shared industry rulebook - all in one week.

It’s back, but not the same. The blackout’s over. Here’s what quietly changed while it was down.