Limitless: An AI Podcast This Week in AI: $2T Market Crash, Anthropic VS OpenAI, SpaceX Merger
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Feb 6, 2026 A wild market week with a $2T S&P drop despite blockbuster earnings from big tech. Deep dive into capex fears, scaling laws, and whether massive compute spending is worth it. A heated rivalry between Anthropic and OpenAI over ads, code models, and product pivots. SpaceX and xAI merger news, satellite data centers, and talk of direct-to-device connectivity.
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Market Drop Vs. Company Results
- Public markets fell ~$2T despite tech earnings beating expectations, revealing a disconnect between sentiment and fundamentals.
- CapEx fears and growth skepticism, not pure revenue weakness, drove the rapid sell-off.
CapEx Is The Central Concern
- Massive hyperscaler CapEx (Google targeting up to $185B) worries investors who fear compressed margins and uncertain returns.
- Builders argue the spending is justified because compute capacity limits and scaling laws still reward investment.
Product Signals Justify Spend
- Despite investor fear, product signals (search growth, Gemini MAUs, cloud revenue) suggest real demand for AI infrastructure.
- Sundar Pichai cited compute capacity, land and power as the main bottlenecks keeping him awake.