THE BRIEF

• Oil prices hit 4-year highs

• Anthropic considers raising $50BN at a $900BN valuation

• Why demand might matter more than supply in the token economy

• Packy McCormick on the “abundance-driven scarcity supercycle”

AI & ROBOTICS

• Anthropic is considering raising a $50BN round at a $900BN valuation.

• SemiAnalysis breaks down the shifting capture of AI value between the layers of the industry.

• Why demand might matter more than supply in the token economy.

• Figure’s Brett Adcock joined the Sourcery podcast.

• $7BN was invested in voice AI startups in Q1.

• What happens when AI runs a store?

• The engineering logic behind TSMC’s high-NA strategy.

BIOTECH

• Mark Zuckerberg and Priscilla Chan put $500MN into a new initiative to accelerate AI biology.

• Profluent announced a $2.25BN partnership with Eli Lilly to develop AI-designed gene insertion.

• Massive Bio is partnering with OpenAI to improve access to clinical trials through automated pre-screening and parameterization.

• Core Memory covered Medra and the use of robotics in bio labs.

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ENERGY

• Oil prices hit 4-year highs amid the US-Iran standoff.

  • Also: How an oil refinery works.

• Meta signed a deal with Overview Energy for night-time solar, beamed from space.

• Five myths about nuclear power.

  • Also: Alex Chalmers wrote about the failure of British nuclear.

  • And also: it’s time to make a plan for nuclear waste.

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DEFENSE & INDUSTRY

• Scout AI raised $100MN to train AI models for military technology.

• Kyle Harrison (GP, Contrary) published a 300-page book on Anduril strategy and US military history.

  • He joined the Sourcery podcast to talk about it.

• Google signed a new contract with the Department of Defense for access to its AI systems.

• China-proofing the American industrial base.

• How Ukraine solved the hardest problem in defense.