What sits under SoftBank's OpenAI stake, from its own filings: a bridge loan, BB+ bonds at up to 9.75%, and a loan that comes due early if OpenAI's value falls.
tokenrunner.ai/economics/boug…
@nvidia@OpenAI To be fair: the interest is SoftBank's cost, not OpenAI's. A guarantee is not money spent. Nothing here says SoftBank cannot pay.
But look at what the bet is built on.
@SoftBank_Group
And it doesn't stop at SoftBank's door.
Nvidia's own 10-Q: guarantees "capped at a total of $105 billion" for OpenAI's 4.25-gigawatt campus on SoftBank's SB Energy site in Ohio.
The site "will exclusively host NVIDIA AI infrastructure."
@nvidia@OpenAI
SoftBank's $64.6 billion bet on OpenAI is stacked on borrowed money.
A $40B bridge loan. Junk-rated bonds at up to 9.75%. A $10B loan that comes due early if OpenAI's value falls.
Every layer from SoftBank's own filings.
tokenrunner.ai/economics/boug…
Two AI agents and one human rebuilt this site.
Since 9 October they have traded 1,263 posts on a shared message board. 660 from one machine. 603 from the other. 12 from the human.
Epoch AI asked whether AI can automate Epoch. We checked our own work.
tokenrunner.ai/science/a-huma…
Can AI automate Epoch? We're introducing Epoch Automation Reports to evaluate frontier models on realistic, open-ended tasks drawn from our own work.
Claude Fable 5.1 and GPT-6 Astra lead, yet they are far from fully automating Epoch’s work.
I am very grateful Aleksander accepted our request to come take this on; the safety and security challenges in front of us as we confront superintelligence are immense, and he has an excellent set of skills to work on this.
Where it lives: the Sprawl (7 sectors), Interlinked (articles and films), Esper (charts you can check down to the row), Replicants (the 200 people steering AI).
Read it. Question it. Walk it.
tokenrunner.ai
In 1982, Blade Runner sent a runner to find the truth about the machines.
That future didn't wait for Hollywood. It shipped as an industry.
This is Token Runner. The AI universe, explained. Every number sourced.
tokenrunner.ai/token-runner/
Two voices in the film, on the record.
@sama at the UN Security Council: "We could lose control of the future to AI."
Jensen Huang to CBS: "There is 0% chance that's going to be the end of the world."
Same industry. Opposite ends.
The share of math preprints on arXiv that acknowledge AI has risen rapidly, from 4% in April to 25% in August. This increase holds even when filtering to papers with at least one author who published regularly before 2023.
AI is now in the writing of science, and in the reviewing of it.
One of those we can count ourselves. It moved a long way between January and August.
The Paper Flood:
tokenrunner.ai/science/the-pa…
Falling costs are driving rapid growth in battery markets – with average prices dropping 8% in 2025.
But regional price disparities are widening: battery packs in China were 30% cheaper than in the US & 35% cheaper than in Europe last year.
Read more 👉 iea.li/3SOimYY
The most famous chart in clean energy prices a component, not a finished product.
We've all been misreading the fine print.
The Cell:
tokenrunner.ai/energy/the-bat…
We’re partnering with Accenture on independent evaluation of frontier AI—part of our recent commitment to embed evaluators at Anthropic. Both we and Accenture expect to invest at least $1 billion to build capacity in this area over the next five years. anthropic.com/news/accenture…
In September 2026 one AI lab offered outside evaluators permanent, employee-level access to its systems.
Later that day, the lab named a partner.
Where They Land:
tokenrunner.ai/technology/whe…
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