Sam Altman, 3 September: warns of "unsustainable silliness" in new neoclouds and says "I am worried about the world's compute buildout plans" — immediately followed by "I'm not worried about our compute buildout plans." OpenAI targets roughly $600B of compute by 2030. That is a competitive attack dressed as candour. Add Larry Fink's "own assets" letter arriving attached to BlackRock's infrastructure product suite, and Einhorn calling a top while down 4.3% in a quarter the S&P gained 15.2%.