AI’s Billionaire Boom

Plus: GPT-5 Drops and Already in Cleanup Mode

August 11, 2025

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Good Morning, AI Enthusiast! 

Today’s headline that’s got everyone talking? OpenAI just dropped GPT-5 and Silicon Valley’s already counting its latest crop of overnight billionaires from the AI gold rush.

Let’s break it down.

Today’s Unfiltered Report Features:

Read Time: 5 Minutes

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Top Stories

Apple Testing Siri That Can Do More Than Just Talk: Apple is experimenting with a new version of Siri that can take multi-step actions across apps, from editing and sending photos to posting on social media or booking rides. Powered by an upgraded App Intents framework, the feature is already being tested with apps like Uber, YouTube, Amazon, and WhatsApp, with a major Siri overhaul expected in spring 2026.

Nvidia, AMD to Pay Tariff Cut for China AI Chip Sales: Nvidia and AMD have reportedly agreed to give the U.S. government 15% of revenue from high-end AI chip sales to China in exchange for licenses to sell there, according to the Financial Times. The deal covers Nvidia’s H20 and AMD’s MI308 chips, marking a shift from earlier national security concerns to a tariff-focused approach. Critics, including former officials, argue the move undermines restrictions meant to limit China’s access to advanced AI technology.

C3 AI Crashes 30% After Weak Sales and CEO Transition Plans: C3 AI shares plunged 30% after the company warned of sharply lower Q1 revenue and a wider loss, blaming a global sales reorganization and CEO Thomas Siebel’s health-related absence from the sales process. Siebel is stepping back as the board begins searching for a new chief executive. While the restructuring is now complete and Siebel says he feels strong, the disappointing results rattled investors ahead of the company’s Sept. 3 earnings call.

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GPT-5 Drops and Altman’s Already in Cleanup Mode

OpenAI just rolled out GPT-5, calling it their “most capable model yet” and the first to merge the fast replies of the GPT line with the deep reasoning of the o-series. The idea? One “unified” model that can both think through complex problems and act like a personal AI agent scheduling, coding full apps, even producing polished research briefs. Instead of users picking settings, GPT-5 comes with a real-time router that decides whether to answer fast or take its time. It’s the new default for free ChatGPT users, with Plus and Pro tiers getting higher limits (and access to GPT-5 Pro for extra horsepower). Benchmarks show it slightly edging competitors in areas like coding and science reasoning, while cutting hallucination rates to a fraction of GPT-4o’s.

But launch day wasn’t smooth. On Thursday, that fancy new router broke, making GPT-5 feel “way dumber” for hours and Reddit’s AMA with Sam Altman on Friday quickly turned into a mix of bug reports and demands to bring GPT-4o back. Altman admitted the glitch, promised fixes (plus doubled rate limits for Plus users), and said they’re exploring a way for subscribers to keep using 4o. Then there was the now-infamous “chart crime” a botched benchmark graphic from the reveal that made the rounds as a meme. Altman called it a “mega screwup” but moved on, saying the priority now is stability, transparency on which model is answering, and keeping user feedback front-and-center.

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What’s Trending

AI’s Billionaire Boom Is Rewriting the Wealth Playbook

The AI gold rush is minting billionaires at a pace history hasn’t seen before. In just the past year, mega-rounds for companies like Anthropic, OpenAI, Safe Superintelligence, and Anysphere have pushed the number of AI unicorns to nearly 500, with a combined $2.7 trillion valuation 100 of them founded since 2023. Most of this wealth is still locked up in private equity, but a growing secondary market is letting founders cash out early, fueling jaw-dropping purchases and a surge in Bay Area luxury real estate. While today’s AI fortunes are concentrated in Silicon Valley, the path looks familiar: like the dot-com millionaires before them, many will eventually diversify, seek professional wealth management, and ironically use AI to disrupt the very industry that wants their business.

AI Image of the Day: AI’s Cash Machine

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