Companies are hitting a wall with AI spending. Token consumption is exploding, but only 18% of tokens are being spent on work that actually ships to production. Ranjan Roy joins Alex Kantrowitz to break down why enterprises are reconsidering their AI budgets, and whether this is a systemic problem or noise from a handful of high-profile cases.
The circular financing issue is the thread worth pulling. AI companies are raising money, spending it on compute, and those compute revenues flow back into valuations that justify the next round. Separately, Anthropic has now passed OpenAI as the world's most valuable startup, memory chip makers are seeing a demand surge, and Robinhood is letting AI agents execute trades directly on your behalf.
The last 15 minutes are the most uncomfortable. The discussion turns to connecting Gmail to ChatGPT and a hypothetical: would you let someone record your home for AI training data in exchange for free cleaning? These are not abstract questions anymore, and the answers reveal exactly where the privacy lines are breaking down.
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