Summary

Breaking this hour: Sen. Elizabeth Warren reacts to President Trump’s decision to cancel the planned signing of a bipartisan housing bill. Plus, why she says data centers are hurting local communities. Then, Broadcom CEO Hock Tan and OpenAI President Greg Brockman discuss a new AI processor “Jalapeño,” and just how much demand they are seeing for compute.…

Key takeaways

• OpenAI and Broadcom unveiled 'Jalapeno,' a custom LLM inference chip designed from scratch in nine months, targeting gigawatt-scale deployment by 2028 with substantially better performance-per-watt than current state-of-the-art silicon.
• Cerebras reported 92% core revenue growth in its first post-IPO earnings but faces near-term gross margin compression due to a creative supply arrangement—renting back data center capacity from G42 to fulfill OpenAI demand—with recovery tied to economies of scale.
• New home sales came in at 580,000 seasonally adjusted annualized units, a significant miss versus the 635–640K consensus and the lowest reading since January, underscoring ongoing affordability pressure from elevated mortgage rates.

Why this matters

The Broadcom-OpenAI custom silicon announcement signals a structural shift in AI infrastructure procurement—hyperscalers and frontier model developers are vertically integrating chip design to reduce per-token inference costs at scale, intensifying competitive pressure on GPU incumbents and specialized AI chip startups alike.

Entities

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Show notes

Breaking this hour: Sen. Elizabeth Warren reacts to President Trump’s decision to cancel the planned signing of a bipartisan housing bill. Plus, why she says data centers are hurting local communities. Then, Broadcom CEO Hock Tan and OpenAI President Greg Brockman discuss a new AI processor “Jalapeño,” and just how much demand they are seeing for compute. And Cerebras board member and one of the earliest investors, Foundation Capital’s Steve Vassallo, joins the show to break down the company’s f

Themes

• openai
• investing