George Getz retweeted
Breaking: Renaissance Technologies just filed its Q3 2026 13F
They sold 99.7% of their Nvidia $NVDA, weeks before the Jensen Huang scandal
Here’s everything you need to know about its recent 13F
Top 10 positions:
1. Micron $MU: $1.62B
2. Advanced Micro Devices $AMD: $1.21B
3. United Therapeutics $UTHR: $908M
4. Intel $INTC: $835M
5. Alphabet $GOOGL: $828M
6. UnitedHealth $UNH: $817M
7. Exelixis $EXEL: $747M
8. VeriSign $VRSN: $649M
9. SpaceX $SPCX: $621M
10. Corcept Therapeutics $CORT: $559M
New positions:
• SpaceX $SPCX: $621M
• Bank of America $BAC: $351M
• Goldman Sachs $GS: $245M
• VanEck Semiconductor ETF $SMH: $186M
• Booking Holdings $BKNG: $183M
Biggest adds:
• SanDisk $SNDK: +5,451% shares
• Micron $MU: +619% shares
• UnitedHealth $UNH: +507% shares
• Advanced Micro Devices $AMD: +140% shares
Biggest trims:
• Nvidia $NVDA: -99.7% shares, was $1.42B
• Meta $META: -99.9% shares, was $1.14B
• Apple $AAPL: -99.8% shares, was $459M
• Amazon $AMZN: -99.5% shares, was $546M
• Palantir $PLTR: -71% shares, was $883M
Full exits:
• Blackstone $BX: was $185M
• S&P 500 ETF $SPY: was $164M
• Marvell $MRVL: was $151M
• Danaher $DHR: was $145M
Summary: Renaissance dumped almost all of its Nvidia, Meta, Apple and Amazon and moved the money into memory chips, AMD and SpaceX
George Getz retweeted
The Broadcom deal landed the same day Anthropic filed its S-1, and the same day Meta launched its $95 billion offering (upside to $97.5 billion). Add SpaceX closing its $40 billion Nvidia chip lease with Apollo, and Monday's AI capital call came to roughly TWO HUNDRED BILLION DOLLARS IN ONE DAY
George Getz retweeted
🦔Over 13,500 unsold companies are stuck in private equity portfolios right now. PE firms buy companies with borrowed money, load the debt onto the company, and plan to sell in a few years. That model needs low rates and willing buyers. It has neither.
PE-backed companies accounted for the majority of large corporate bankruptcies in 2025 and first half of 2026. Saks, Eddie Bauer, JoAnn, and hospital chain Steward Health Care all went down under PE ownership. Bloomberg reported this week that dealmakers are now leaving major funds because carried interest payouts have dried up.
My Take
The PE model worked for a decade because rates were near zero and you could flip anything. That era is over and these firms are trapped. They can't sell because no buyer will pay what they need to turn a profit, and they can't hold much longer because the companies are drowning in debt at 5% rates that the PE firm itself doesn't pay. The company pays it. Your hospital pays it. Your dentist pays it. JoAnn paid it until it couldn't.
Thirteen million Americans work for PE-owned companies. When Steward Health Care went down, entire communities lost their only hospital. The PE firm walked away and raised another fund. I think this is going to be one of the biggest stories of 2027. The exit drought ends when rates come down. The Fed just hiked. These companies are stuck with debt they took on at prices that assumed money would stay cheap forever, and every month they sit unsold the finance numbers get worse. The firms that bought them will survive. The companies and the people who work there won't all be that lucky.
Hedgie🤗
George Getz retweeted
STEVE JOBS GOT FIRED FROM APPLE.
Then he walked straight into MIT and dropped the most raw, unfiltered 60-minute business masterclass ever recorded.
Zero PR bullshit. Zero image to protect. Just pure, brutal honesty from the man who built Apple once and was about to rebuild it even bigger.
Stop scrolling.
Watch this tonight instead of Netflix.
Bookmark it. Come back to it.
George Getz retweeted
🇺🇸 Something strange is happening inside the AI safety world, and the deeper you look, the smaller that world starts to seem.
Yesterday, former Anthropic researcher Jacob Coxon's warning that AI could "kill us all" went from a nearly inactive X account to more than 100 million views.
Anthropic researcher Evan Hubinger then poured gasoline on it, saying he personally puts the chance of AI killing everyone within the next decade above 10%.
The Wall Street Journal published an exclusive on Coxon's resignation 18 minutes before his X post appeared.
The first 3 accounts to quote it, all within 15 minutes, reportedly belonged to senior figures at Encode AI, the AI Policy Network and the AI Futures Project.
Survival and Flourishing Fund records show millions in grants linked to Jaan Tallinn, an Anthropic investor, going to those same organizations or their affiliates.
None of that proves Coxon's warning was manufactured, or that Anthropic secretly orchestrated some political campaign. A planned media rollout is hardly unusual either.
But it does reveal something worth paying attention to.
The researchers warning about AI extinction, the nonprofits pushing tougher AI policy, the donors funding them and the politicians now talking about restricting superintelligence are not operating in completely separate worlds.
They're part of a surprisingly tight ecosystem, and right now that ecosystem is having an enormous influence over how the public thinks about AI.
Maybe it's coincidence. Maybe it's not. Either way, it's a pretty small world, huh?
Source: @ParkerThayer, AP News, CNBC / Writer: Julie
🇺🇸 One of Anthropic’s own safety researchers thinks there’s a greater than 10% chance AI wipes out humanity within the next decade.
Evan Hubinger, who leads Alignment Science at Anthropic, put it pretty plainly:
“We really do earnestly believe AI could kill all humans! I personally think it is >10% within the next decade.”
He added that Anthropic still doesn’t have a solution for aligning superintelligence and isn’t clearly on track to find one.
The comments came after researcher Jacob Coxon resigned, saying people building AI genuinely believe it could kill everyone by the end of the decade.
When the people building the thing start putting a number on the odds it kills you, that’s probably worth paying attention to.
Writer: Julie
George Getz retweeted
I resigned from Anthropic today. I spent the last three years doing pretraining research at both OpenAI and Anthropic. Neither company is acting responsibly. They are racing straight to self-improving superintelligence and gambling with our lives. More thoughts below.
George Getz retweeted
Mythos Preview seems to be the best-aligned model out there on basically every measure we have. But it also likely poses more misalignment risk than any model we’ve used:
Its new capabilities significantly increase the risk from any bad behavior. 🧵
George Getz retweeted
Witness history. How to watch the 2026 Masters. #themasters
masters.com/en_US/news/artic…
George Getz retweeted
The recent stress in the private credit market is limited to a few players and doesn’t represent a systemic risk, bank CEOs said at Morgan Stanley’s European Financials Conference. mgstn.ly/3PU7qaH
George Getz retweeted
The largest IPO in human history is coming and no company has ever attempted anything close to this scale.
SpaceX just raised its IPO target to $75 billion and the previous all-time record was $29 billion.
That record is about to get demolished by more than double.
This is not a startup desperate for cash, SpaceX made $8 billion in profit last year on $15–16 billion in revenue.
They are raising money because they want to dominate everything above the atmosphere and here is why.
Elon Musk just explained it in his own words, running 300 gigawatts of AI compute per year on earth would consume two-thirds of all US electricity production and building enough power plants for that is simply impossible.
Scaling to one terawatt per year? His exact words: "You have to do that in space. There just is no way to do a terawatt per year on earth."
The plan is solar-powered AI satellites in orbit, eliminating cooling, grid dependence, and even batteries since space provides constant sunlight.
Musk believes this could become the cheapest form of AI compute on Earth within five years.
The target valuation is $1.75 trillion and that would make SpaceX larger than Meta, larger than Tesla, larger than every company on earth except five.
And the date they are shooting for: is mid-June 2026 and Goldman Sachs, JPMorgan, Bank of America, and Morgan Stanley are already on board as lead underwriters.
Two months ago the target was $50B, last week it jumped to $70B, now it’s $75B and the IPO hasn’t even been filed yet.
George Getz retweeted
Most CEOs have no idea what’s really going on
IBM built a cloud of suits to make sure the CEO never talked to anyone actually doing the work. @elonmusk does the opposite.
"Elon's method is extreme focus on substance. Extreme focus on getting to the truth.
In any organization with multiple layers, there's compounding lies. Each layer wants to look good. Each layer puts a little spin on things.
If one layer lies to the next layer above it, maybe that's okay. When that happens two or three times, the lies compound. If that happens six times, the lies really compound. If that happens 12 times, the CEO has no idea what's happening.
That was IBM.
By the time I got there as an intern, I calculated there were 12 layers of management between me and the CEO.
They even had a term for it: the great cloud. A cloud of men in gray business suits who followed the CEO around and prevented him from ever talking to anybody who was actually doing the work.
When he would come to visit, it was like a visit from the king. A completely impervious bubble.
That's the polar opposite of the Elon approach."
— @pmarca
George Getz retweeted
If you read one thing on private credit today, make it Sixth Street's investor letter. The highlights:
“Crises don’t happen because of credit issues, they happen because of liquidity issues.
"If you believe in efficient markets, public BDCs trading at significant discounts versus similar private counterparts is an arbitrage that will resolve over time. Capital will be reallocated, and the public BDC sector should benefit as the liquidity-taking abates and discounts normalize."
"The weighted average price-to-book (“P/B”) ratio of these sixteen public BDCs is 0.83x, while equity in their non-traded BDCs can be redeemed at 1.00x P/B."
"The rebalancing of the ecosystem will take time to fully materialize, but it should ultimately result in the widening of new origination spreads and a healthy recalibration of the supply-demand dynamic for private capital."
"As we witnessed during the redemption cycle that impacted non-traded REITs in 2022, flows are typically correlated in the sense that in periods of significant redemptions, inflows tend to decline significantly. That is what we are now seeing in the non-traded BDC market."
"We believe it is worth reminding ourselves that the current dislocation across the BDC sector is taking place in the context of a relatively constructive economic backdrop. Consumer balance sheets remain healthy, corporate earnings growth has been solid, and unemployment is still near historic lows despite the most recent jobs report. The economy broadly speaking is in decent shape."
"We believe the current AI fear in the market is largely an equity valuation problem. While equity owners may be the first to absorb downward pressure as multiples re-rate, TSLX remains positioned at the top of the capital structure... Despite our enthusiasm, we see excess hype (and inversely, excess fear) in the market discourse. Both sides of this coin lack nuance, brushing very different businesses with a broad stroke and conflating credit risk with equity valuation problems."
George Getz retweeted
The computational power in your iPhone is >100 million times more powerful than the computers that landed Apollo 11 on the Moon. And yet, most people use it primarily to argue with strangers on the internet.
The future's already here—we just need to deploy it better.
George Getz retweeted
The AI industry is about to run out of chips. The world's largest foundries are maxed out and the demand curve is still going vertical.
Tesla’s TeraFab is a bet on a solution no other company in the world has been ambitious enough to try.... build the chips yourself
Quick math on how big this is:
- Targeting 70% of TSMC’s global output
- 2nm chips. In-house design
- 1/10th the cost of Nvidia Blackwell
- 1/3rd the power consumption
- $20B capex budget for 2026
- Launchin next week
Elon said on the earnings call that even with all fabs fully booked out, the best-case chip supply projections aren't enough. He said there are zero advanced memory fabs at scale in the US. Literally zero.
So he's building the entire stack. Chips. Memory. Packaging. Energy. All domestic.
George Getz retweeted
Here it is without a Shadow of a doubt, The Democrats Are Exposed to their Hypocrisy right here! 👇👇🏻👇 Anyone that takes sides with them now are Not American 1st!
George Getz retweeted
Watch Hard Lessons, as legendary investor Stan Druckenmiller sits down with Morgan Stanley’s Iliana Bouzali, sharing how he would construct a portfolio if he had to start over today, why contrarianism is overrated, and which stock he regrets selling too early.
