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MSFTSFTBYBALANCED

Zortix matched this thesis to OpenAI’s public holders (MSFT, SFTBY, AMZN, NVDA) as one way public-market investors are exposed to it. Stakes as disclosed or reported. Not a recommendation.

Where these come from — OpenAI’s exposure, as disclosed or reported
MSFTMicrosoft — about 27% of OpenAI Group PBC (reported); roughly $13bn invested since 2019. · as of Aug 2026 · Press reporting (The Motley Fool, 2026-08-13)
SFTBYSoftBank Group — about 11.7% (reported), financed in part by a $40bn bridge loan maturing March 2027. · as of Aug 2026 · Press reporting (The Motley Fool, 2026-08-13)
AMZNAmazon — preferred stock in OpenAI, carried together with its Anthropic preferred at a $122.3bn combined carrying value as of 30 June 2026. · as of 30 Jun 2026 · Amazon 10-Q for the quarter ended 30 June 2026 (filed 2026-07-31)
NVDANvidia — letter of intent to invest up to $100bn progressively as compute is deployed (September 2025). · as of Sep 2025 · Company announcement, 2025-09-22

AGI already here, release cadence is the game

The guest argued that AGI has essentially been here since the beginning of the year, with frontier labs now managing the cadence of its release.

Keep reading this one

You've read the thesis and who argued it. A free account opens the argument, what validates it, the risks the show raised, and the moment in the episode where it was said — 3 ideas in full a day, no card.

The Callback

Open source LLMs squeeze frontier lab margins

21 weeks between these two statements.

Then

The case was made that open-source AI models and agent frameworks represent the biggest competitive threat to large, centralized frontier model companies, potentially undercutting them and capturing the majority of token usage.

ALL-IN WITH CHAMATH, JASON, SACKS & FRIEDBERG · 10 APR 2026 · 08:45Open in Zortix →
Now

The guest argued that AGI has essentially been here since the beginning of the year, with frontier labs now managing the cadence of its release.

ALL-IN WITH CHAMATH, JASON, SACKS & FRIEDBERG · 4 SEP 2026 · 1W AGO · 03:45
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NOT INVESTMENT ADVICE · A SUMMARY OF WHAT WAS SAID ON THE PODCAST · VERIFY AGAINST THE SOURCE