Founders Are Now Sending VCs a File Written for AI

OpenAI just raised $11B at a $1.25 trillion valuation, yet that’s well short of the $30B it reportedly wanted, and Anthropic IPO buyers may now value it near $1.1T. Is the AI money machine cooling? Plus, Dario Amodei says cancer, Alzheimer’s and heart disease will be relics within a decade, right in Anthropic’s IPO roadshow. Is that visionary, or just pitch-deck hype?

Apple is reportedly building Harbor, a Mac app for running private AI clusters locally. Jason and Lon are joined by Ben Lerer (Lerer Hippeau), Jenny Fielding (Everywhere Ventures) and D.A. Wallach (Time BioVentures) to unpack Apple’s local AI play, CoreWeave’s $132.5B backlog, Mercor’s $20B round, Sequoia’s shake-up, and why family offices are pouring into SPVs.