About this episode

The episode discusses the implications of the SpaceX IPO and the evolving landscape of AI and compute technologies.

Brad Gerstner sits down with Gavin Baker and Andrew Fox of Atreides Management, alongside Altimeter partner Clark Tang, to break down one of the biggest questions in tech and markets: how should investors think about the SpaceX IPO? They unpack the major levers behind SpaceX’s next phase: Starship rapid reusability, Starlink broadband and direct-to-cell, Elon’s emerging AI compute business, xAI’s model ambitions, the Cursor acquisition, and the long-term promise of orbital data centers. The group also debates whether SpaceX is becoming a new kind of AI hyperscaler — “Elon Web Services” — and what that means for the future of compute, cloud, and frontier intelligence. Then they dive into the latest model race: Fable 5, Mythos, ChatGPT 5.5, long-running agents, open source vs. frontier models, Nvidia vs. ASICs, the AI CapEx boom, and why the market may still be underestimating the scale of AI demand. Enjoy another episode of BG2! Timestamps: (00:40) Intro — SpaceX IPO in Two Days, Mythos Launches, Taiwan Takeaways (03:05) xAI's Google & Anthropic Deals: Highest Operating Profit Per Gigawatt (13:28) "Elon Web Services" — Nobody Had AI Compute in the SpaceX Model…

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