Daily Alpha · YouTube
· Midday Alpha · by Buzzberg Research
Who was talking 29 videos · 10 channels
Open-weight models
2 videos · 1h 43mSemiAnalysis and a16z both weigh how close Chinese open-weight models have come to frontier labs, with compute access, post-training and distillation the swing factors.
SemiAnalysis: GLM 5.3 sparse attention and AMD matching Nvidia on InferenceX
The episode examines GLM 5.3's sparse attention plus HiCache/HiSparse design, AMD catching Nvidia on InferenceX, a capacity-versus-bandwidth trade-off, and whether Z.ai tuned the open-weight model for Chinese chips; it also asks whether post-training alone pushed an open model within reach of Mythos.
Nathan Lambert: frontier labs keep structural advantages while open models close the gap
Lambert argues OpenAI and Anthropic hold structural advantages in compute, capital and pioneering new training paradigms, while open-model labs, especially in China, follow remarkably close behind; the discussion covers distillation versus talent, compute as the major constraint, and post-training's growing role, plus his nonprofit lab's plans to publish RL environments.
GMO's Ben Inker expects SpaceX, Anthropic and OpenAI issuance to pop the AI bubble
Inker argues the IPOs and shareholder unlocks of SpaceX, Anthropic and OpenAI will bring unprecedented equity issuance - the mechanism he says popped tech bubbles in 2000 and 2021 - and that combined with an AI overbuild it could send the market down as much as 50%, with worse for the most AI-linked companies.
ASML hunts for ways to build more machines as AI demand outruns capacity
ASML shares rose after the Dutch company said soaring AI spending means it is searching for ways to produce more chip-making machines over the next two years; the same programme covered Houthi missile and drone attacks that hit Saudi Aramco's headquarters, a CPI-heavy agenda and widening crack spreads.
Bank of America's trading desks miss as a regulatory penalty hits results
Bank of America's bond-trading revenue fell 17% to $2.55bn and equity trading fell 10% to $2.51bn, both missing estimates, with results also hurt by a charge tied to a regulatory penalty over money-laundering and sanctions violations.