The Information's TITV SpaceX’s IPO Filing Incoming, OpenAI Kills Sora, Arm Launches CPU Chip, Meta Layoffs
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Mar 25, 2026 Umesh Padval, a venture capitalist focused on chip startups, and Stephanie Palazzolo, an AI reporter covering OpenAI, join the conversation. They discuss SpaceX’s planned IPO filing and what it could mean. Stephanie explains OpenAI killing Sora and the shift toward world models and robotics. Umesh breaks down Arm’s leap into selling full CPUs and the competitive fallout for cloud players.
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SpaceX IPO Could Redefine Market Scale
- SpaceX is preparing a massive IPO that could top $75 billion, potentially larger than all IPOs last year combined.
- The offering may give retail investors larger allocations (20%+) and could omit the standard six-month lockup, raising liquidity questions.
OpenAI Halts Sora To Reprioritize Compute
- OpenAI is shutting down Sora (video generation) and reversing plans to fold video into ChatGPT to reallocate compute to higher-priority work.
- Sora's app usage fell and it consumed heavy compute, prompting a shift toward world models and robotics-focused research.
World Models Target Realistic Physics For Robotics
- A world model aims to recreate real-world physics so generated video events (like liquid or broken glass) behave realistically.
- OpenAI plans to pivot Sora researchers toward world models with clear robotics applications rather than consumer video apps.