Forbes Daily Briefing

Forbes

The Forbes Daily Briefing shares the best of Forbes reporting on wealth, business, entrepreneurship, leadership and more. Tune in every day, seven days a week, to hear a new story. The Daily Briefing is edited, produced and hosted by Kieran Meadows.

  1. Sometimes You Don’t Want A GPU: Groq Cofounder Explains Whirlwind Deal With Nvidia

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    Sometimes You Don’t Want A GPU: Groq Cofounder Explains Whirlwind Deal With Nvidia

    Last winter, Groq cofounder and CEO Jonathan Ross walked into a meeting with Nvidia CEO Jensen Huang with a pitch for the companies’ tech to work together. He now describes the synergy with a logistics analogy: stop building AI data centers as if every workload wants the same hardware. Training is bulk hauling; inference is last-mile delivery. GPUs can do both, but using the 18-wheeler even when you just need a van can be a lot slower. So: Nvidia’s general-purpose GPUs are the big trucks. Groq’s specialized chips—LPUs, or language processing units, designed to run models fast—are the smaller vans. “If you were building out a logistics network for the entire United States, and I told you your two options were all 18-wheelers or just delivery vans, which one would you pick?” Ross said. “The best answer is both.”  Ross wasn’t just pitching a worldview. He wanted Nvidia’s permission to buy around 100,000 Blackwell chips, likely worth billions. Huang grilled him on the technical details, and then the meeting ended.  When Huang called back three days later, Ross expected a discussion about his GPU purchase order. Instead, the Nvidia CEO cut to the chase. “We should probably move really fast,” Ross recalled him saying. Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  2. Why An Unsustainable Bubble Is Growing Inside Fintech

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    Why An Unsustainable Bubble Is Growing Inside Fintech

    The financial technology industry has become a world of haves and have-nots. Take San Francisco payments company Stripe, which helps millions of merchants accept credit cards, process stablecoin transactions and manage billing tasks. In 2025, it brought in $6.9 billion of net revenue and $1.2 billion of earnings before factoring in interest, tax, depreciation and amortization expenses, according to a person familiar with its finances. Revenues were up more than 30% from 2024. That’s world-class scale and growth, but its recent valuation of $159 billion, which has afforded each of the Collison brothers a $17.5 billion fortune, means its private backers think it’s worth nearly five times Adyen, a Dutch fintech and close competitor. Unlike Stripe, Adyen is publicly traded. It processed $1.6 trillion in payments last year compared with Stripe’s $1.9 trillion. Stripe loyalists will point out that it has more business lines than Adyen and is growing faster off of a larger base. But the chances that Stripe could maintain a $159 billion valuation if it went public today are slim. Public investors value e-commerce platform Shopify at $165 billion, and it grew nearly as fast as Stripe last year and had more than double the profits. A Stripe spokesperson declined to comment. Learn more about your ad choices. Visit megaphone.fm/adchoices

    6 min
  3. Three Dudes Run The Biggest AI Romantic Fantasy Site For Women

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    Three Dudes Run The Biggest AI Romantic Fantasy Site For Women

    After moving to a new city in North Carolina in 2024, Cookie (a pseudonym) felt the weight of a new city. Their husband was traveling a lot for work, and as a stay-at-home parent with a now 4-year-old daughter, the days were “very draining”. Since Cookie didn’t know anybody in their new town, they turned to Janitor AI, a social chatbot site known for its unbounded, often explicit, fantasy roleplay. It was a “nice release,” Cookie told Forbes. Cookie grew up around fantasy and romance novels—their mother kept a collection—and Janitor AI became an easy way to escape the drudgery of the day-to-day. By the time their daughter is down for a nap or tucked in for the night, Cookie is creating "slow burn" romance characters with detailed and often explicit prompts. There’s Charlie, a nudist werewolf roommate; Marcus, a seven-foot ghoul with a taste for dive bars; Greenwood, Colorado, a fictional town where humans live alongside supernatural “demihumans.” Beneath Greenwood’s romance and monster lore is a civic rot: a glossy new church masking an organ-harvesting operation, with seedy bars serving as bait. Cookie is one of Janitor AI’s 2.5 million daily, die-hard users. The platform claims more than 15 million total users and with 100 million monthly visitors, and it's the tenth most popular consumer AI app, according to Similarweb, a digital market intelligence company. By Anna Tong, Forbes Staff Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  4. The WNBA’s Most Valuable Teams 2026

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    The WNBA’s Most Valuable Teams 2026

    The WNBA tips off its 30th season on Friday, but across those three decades, it has never experienced anything like the Golden State Valkyries, on the court or off it. Last year, the Valkyries became the first expansion franchise in league history to reach the playoffs in its inaugural season and sold out all 22 of their home games to set a league record with average attendance of 18,064. By the end of the regular season, Golden State had generated $78 million in revenue, not only breaking another WNBA record but also surpassing more than half of the clubsin a more mature men’s league, MLS. As the team enters its second season, the Valkyries have raised prices yet managed to expand their season-ticket base by 2,000 seats, to 12,000, proving that there is still room to run—and helping them race to the top of the WNBA’s most valuable teams, worth an estimated $780 million. The Valkyries are not the only ones on a financial fast break, however. The 2025 WNBA season also saw the three next-best revenue totals in league history—the Indiana Fever’s $58 million, the New York Liberty’s $43 million and the Las Vegas Aces’ $34 million, according to Forbes estimates—and no team is now worth less than $250 million. By Brett Knight, Assistant Managing Editor Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  5. Inside The Pawn Shop For The Ultra-Rich

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    Inside The Pawn Shop For The Ultra-Rich

    Inside a climate-controlled room at lender Luxury Asset Capital’s Manhattan office, rows of Hermès handbags line the shelves: Mini Kellys in exotic skins worth roughly $75,000 each, diamond-encrusted Birkin bags and other limited-edition pieces that are worth six figures. Nearby, a first edition of The Catcher in the Rye (which can sell for as much as $50,000) sits alongside contemporary artwork, including a Yoshitomo Nara drawing, worth more than $200,000. Down the hall, safes hold scores of Rolex watches, diamonds and gold jewelry, all meticulously tagged and sealed.  And none of it is for sale. The items are all collateral—pledged by ultra-wealthy borrowers seeking quick cash. Denver-based Luxury Asset Capital runs its operation with the basic mechanics of a neighborhood pawn shop and the discretion of a Swiss bank. Borrowers pledge their watches, jewelry, handbags and fine art in exchange for short-term, nonrecourse loans—often funded within a day.  One borrower who manages a large hedge fund hocked his wife’s eight-carat diamond ring—worth upwards of $600,000—after receiving a large margin call (the loan was eventually repaid and the ring was returned. Another client once brought in an Emmy award as collateral. By Sergei Klebnikov, Forbes Staff Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  6. OpenAI Is A Third Of CoreWeave’s Business. What If The AI Company Can’t Pay Up?

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    OpenAI Is A Third Of CoreWeave’s Business. What If The AI Company Can’t Pay Up?

    Over the last year, as its CEO Sam Altman preached a gospel of insatiable compute, OpenAI has created a web of deals that tie a meaningful chunk of Silicon Valley’s AI buildout to its own trajectory. Big names like Nvidia, Oracle and SoftBank have all inked infrastructure contracts with the ChatGPT maker, but there is one company perched further out on a limb than the rest: CoreWeave, an AI cloud company with a roughly $60 billion market cap. The Wall Street Journal reported Monday that OpenAI missed internal projections for revenue and user growth. It claimed OpenAI CFO Sarah Friar is worried the company may not be able to pay for future computing contracts. If that’s even directionally right, it will land hardest on CoreWeave—which counts OpenAI as one of its biggest customers and has borrowed more than $40 billion in mostly high-interest debt used to finance GPUs and data centers. CoreWeave’s view, at least publicly: it can ride out turbulence as long as demand for AI compute keeps outrunning supply. "OpenAI is a terrific partner, but not our only one,” a CoreWeave spokesperson said, namechecking other big-name customers including Meta, Anthropic, Microsoft and Google. “As more companies build and deploy AI, demand for compute continues to grow. We continue to see demand exceed supply across the AI ecosystem.” Problem is: that “AI ecosystem” is not a broad-based consumer market so much as a coterie of spenders writing very large checks. Trillions of dollars’ worth of infrastructure commitments are concentrated in a few places: big tech balance sheets (Oracle, Meta, Microsoft and Nvidia) and a handful of newer entrants that buy AI capacity and then rent it out (like CoreWeave, Nebius and Nscale). CoreWeave’s model—buy GPUs, spin up data centers, lease the capacity to labs—turns that concentration into both opportunity and fragility. By Phoebe Liu, Reporter Richard Nieva, Senior Writer. Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  7. Sam Bankman-Fried’s Venture Bets Would Have Made Him $100 Billion Richer Had He Stayed Out Of Prison

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    Sam Bankman-Fried’s Venture Bets Would Have Made Him $100 Billion Richer Had He Stayed Out Of Prison

    Spend enough time on X these days and you may see a number of posts marveling at Sam Bankman-Fried’s venture “genius.” Had FTX not imploded, its founder might now be remembered as one of the greatest venture investors ever, they say. Anthropic, Cursor, Robinhood — these were just a few of the hundreds of bets Bankman-Fried made when his crypto empire was thriving.  “The fact that Sam invested early in Anthropic and Cursor is astonishing,” marvels Rory O’Driscoll, a partner at Scale Venture Partners, of two of Silicon Valley's leading artificial intelligence companies. Cursor, an AI coding specialist, has recently struck a deal with SpaceX potentially valuing it at $60 billion, and Anthropic, one of the AI leaders, is being valued at $900 billion. “To pick two of the most important companies in the post-’21 crash and nail it…What a talent, what a willingness to look at new stuff before the ChatGPT moment, when people were saying, ‘this might work, who knows.’” Except, of course, for the matter of whose money Bankman-Fried was investing. Once hailed as the “next Warren Buffett,” he is serving a 25-year federal prison sentence in San Pedro, CA for orchestrating one of the largest financial frauds in history and stealing more than $8 billion from FTX customers, in part to fund these investments. Before his arrest in December 2022, he graced the cover of the Forbes 400 and was estimated to have a personal fortune of $24 billion at its peak. By Nina Bambysheva, Deputy Editor Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
  8. The Billionaire Donors Behind Trump’s Midterm Superweapon

    7 MAY

    The Billionaire Donors Behind Trump’s Midterm Superweapon

    Last year, the GOP’s legacy donor class and its newer crop of tech and finance billionaires found common cause: writing enormous checks to support Donald Trump.  In February, billionaire Kelcy Warren and his fossil fuel pipeline company, Energy Transfer, each sent $12.5 million to MAGA Inc., a Trump-aligned super PAC. Just a few months later, OpenAI cofounder and president Greg Brockman and his wife cut checks for $12.5 million each.  That makes Warren and Brockman the biggest individual donors to MAGA Inc. But the roster is deeper than two names and four eight-figure checks. Forbes counts at least 24 billionaires or billionaire families who have given over $1 million, according to Federal Election Commission filings covering through the end of March. (Brockman is not currently on Forbes’ list of billionaires, but he did claim to be one in testimony related to Elon Musk’s lawsuit against OpenAI). Collectively, these ten-figure club members, plus Brockman, donated $118 million, about a third of the $350 million war chest MAGA Inc has built. By Kyle Khan-Mullins, Forbes Staff Learn more about your ad choices. Visit megaphone.fm/adchoices

    7 min
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The Forbes Daily Briefing shares the best of Forbes reporting on wealth, business, entrepreneurship, leadership and more. Tune in every day, seven days a week, to hear a new story. The Daily Briefing is edited, produced and hosted by Kieran Meadows.

Información

  • Canal
    Forbes
  • Creador
    Forbes
  • Años de actividad
    2024 - 2026
  • Episodios
    13
  • Clasificación
    Apto
  • Copyright
    © Forbes Media LLC

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