All-In with Chamath, Jason, Sacks & Friedberg · Thursday, September 17, 2026
Brad Gerstner argues that the top three AI labs – Anthropic, OpenAI, and SpaceX – need to collectively reach $180 billion in revenue by year-end to sustain the current infrastructure CapEx. He states that this off-take revenue is crucial to justify the massive capital expenditures by hyperscalers like Microsoft, Google, and Amazon, who are building capacity to rent.
“So the collective run rate, let's just call it the top three labs, Anthropic, Open AI, and SpaceX, is about $100 billion.”
“I think they need to collectively get to at least $180 billion by the end of the year.”
“Microsoft's not paying for it. They're building it to rent it. Google's not paying for it. They're building it to rent it. Amazon's building it to rent it. Well, who is the person renting it? We have to have the off take revenues in order to pay that rent.”