today we announced the acquisition of Inferize. i guess headline is the obvious part. Behind it is a bigger bet on what @nebiustf becomes as a production inference platform. here's the problem Inferize was built for. -> When you launch a model, spin up for a demand spike, or reload weights mid run (think reinforcement learning), the GPUs are assigned but not yet useful. That warmup window is an idle tax. Platforms hold spare capacity just to stay ready for the slo. You pay for metal that isn't shipping tokens yet. @InferizeAI's technology cuts that tax. Faster time from "we need more capacity" to "it's actually serving." utilization tracks real demand tighter. Token economics get better because more of the rack does useful work. The team joins Token Factory with deep gpu systems chops. Running inference well is the whole system responding when demand changes, not just fast GPUs and a tuned model. this also fits the stack we've been assembling on purpose. 1. Eigen brought optimization at the model, kernel, and system layers 2. Clarifai's core team and licensed tech added system-level inference and compute orchestration 3. Inferize is the layer that attacks readiness and elasticity. 3 moves, one job: serve more customer demand from every GPU, and make TF the place open-weight / production inference scales without burning money on idle readiness. that's the potential i'm excited about (not a logo on a press release). A Token Factory that gets more elastic, more utilizable, and harder to outrun on the economics of being ready.

I like $BLLN here. Drucks biggest position is $NTRA but $BLLN is a better version that is almost 50% cheaper (approaching 5x rev) growing 2-3x faster (40% CY26 growth) and a lot more profitable (esp on GAAP). Healthcare great space to be in the current macro climate. Their proprietary tech provides more accurate tests for prenatal, cancer therapy selection and MRD. Once they get reimbursement later this year you’ll see massive ASP improvements. Very under-owned.

Introducing our State of Markets pt 2, along with a companion podcast where we unpack the data and discuss what comes next. Tech is the everything cycle. Supply: putting the buildout in context, just passed railroads as % of GDP. The wisdom of Elon is real: the factory (or the datacenter!) is the product. Demand: diffusion is so, so early. Median AI vendor spending in the top 1% of companies is 8x that of the top 10%. Only about 30% of S&P 500 companies report a quantified AI impact, which means there’s a substantial opportunity in connecting models to a company's data and workflows. Diffusion into companies is one of the main themes of the next 5 years. We’re entering the agent work period. Only a few million users today, but applicable to billions of internet users with massive surplus created. META/GOOG monetize US users at $200+ per year today. Agent opportunity is much higher. Mega-trends the next 5 years: Consumer agents, Robotics, Autonomy, AI x bio, Personal health, Diffusion into enterprise, New era of American Dynamism. Much more in our SoM report here - a16z.news/p/state-of-markets… @a16z @sarahdingwang @aleximm @santiago__rdz

JUST IN: AI related companies now account for roughly 40% of the S&P 500’s total market cap

Após a conferência de imprensa do Selecionador Nacional, e no seguimento de uma conversa com o Presidente da Federação Portuguesa de Futebol, tomei a decisão de deixar o estágio da Seleção Nacional. A seu tempo, direi a verdade a todos os Portugueses sobre as razões que motivaram a minha saída da equipa nacional, à qual sempre me dediquei. Agora é tempo de desejar boa sorte a Portugal e a todos os meus companheiros de equipa, sem exceção.

BREAKING: NASA has suspended work on Blue Origin’s Mars communications contract, worth up to about $700 million, after $RKLB Rocket Lab formally challenged the award - putting a tight 2028 Mars timeline under new pressure. Rocket Lab filed a protest with the Government Accountability Office, arguing NASA’s selection of Blue Origin was inconsistent with congressional eligibility requirements and included what Rocket Lab called a “punitive review” of its technology. NASA confirmed to Forbes that performance of the Mars Telecommunications Network contract is suspended while the protest is adjudicated The timing is sensitive as Blue Origin is required to deliver the completed system by Dec. 31, 2028, while the relevant Earth-to-Mars launch window runs from roughly Dec. 10, 2028 to Jan. 17, 2029. NASA says it may reassess the schedule after the protest is resolved. The network is intended to provide high-bandwidth communications and navigation around Mars for current and future robotic missions, with NASA saying it will also help support eventual human exploration.