Open-Source AI Battle, Google Throttles Meta, Micron Margins Moon | Edward Coristine & Tai Groot, Chad Rigetti, Pim de Witte, Yadin Soffer, Jack Morris, Neil Movva, Jakob Diepenbrock, Chris Altchek

**Tyler** (0:00)
You're watching TBPN!

**John Coogan** (0:02)
Today is Monday, June 29th, 2026 We're live from the TBPN Ultra, down in the Temple of Technology, the fortress of finance.

**Jordi Hays** (0:10)
The capital of capital.

**John Coogan** (0:12)
Let me tell you about ramp.com. Time is money, save both, easy to use corporate cards, bill payments, accounting, and a whole lot more. All in one place. I'm gonna adjust my IEMs. Well, on the front of the Wall Street Journal today, this is how you know this is the whole AI 2027, Washington waking up. The AI stories are making it to the front page, the world news section, not just the business and finance section, more and more. So the very front page of the Wall Street Journal. Of course, the picture is about the heat wave, but the lead, the story with the largest text is about artificial intelligence. China resets the AI race with the United States as security models mark gains. We're going to get into it. This is a fascinating debate because I thought that we'd have a conclusion to the open source AI debate by now. Either the frontier would have collapsed and there would be perfect commoditization, or they would have fallen so far behind.

**Jordi Hays** (1:18)
It'll just go, it's over. We're so back. It's over.

**John Coogan** (1:22)
If you're in open source AI, that's exactly how it feels.

**Jordi Hays** (1:25)
Before we get into the story completely, Hill in the chat said, did you see the US National Design Studio open sourced a privacy model? We did.

**John Coogan** (1:34)
We have them coming on the show today.

**Jordi Hays** (1:36)
In just 45 minutes.

**John Coogan** (1:38)
At 11.45.

**Jordi Hays** (1:39)
Tai are going to be talking about a first iteration on-device PII redaction model that is far smaller than existing models.

**John Coogan** (1:50)
It's actually tiny. It's 15 megs.
And you can do it in the browser.

**Jordi Hays** (1:55)
And we have Chad Rigetti. He's coming on to talk about a whole lot of quantum mumbo jumbo.
We'll see what's going on there.

**John Coogan** (2:04)
And Pim's coming back on from General Intuition. And we got a bunch more founders coming on. Jakob Diepenbrock, we're announcing a $30 million oversubscribed fund with tons of TBPN guests already in the portfolio. The rest of the portfolio soon to be on the show, I'm sure.
Anyway, Open Source AI. So the big story is centering on Glm 5.2 from z.ai. It was officially released June 13th, so it's taken a couple weeks for it to really break through to the front page of the Wall Street Journal. But there's seen some strong performance on benchmarks, some positive reviews from developers. I have a whole review from Tyler we can go through in a little bit. But we're now entering another round of debates around Open Source AI.
What can the model actually do? Is this a threat to national security? What are the geopolitical ramifications here? And so I'm sure this will be an ongoing conversation throughout this week, probably next week, we have some guests lined up to help contextualize it. But laying down the facts from the journal, security researchers said that a new AI model released this month by China's Zipu AI, also known as ZAI, can match the latest US models when it comes to finding security bugs. So it's a development poised to reset the global tech race and pressure the White House in its overhaul of US AI policy. So unlike models from Anthropic or OpenAI, Zipu's GLM 5.2 is open weight. You can just download it, run it anywhere. You don't need to go to an API. You don't need to go to a private company and pay them. You can run it on your own server, provided you have the electricity and GPUs to do so. It is expensive to run, as we'll go into, but it is open weight. The Wall Street Journal says that means it can be downloaded and run on hardware operated by anybody and can be modified and used without supervision. Scary stuff. Open weight models are ideal for users who want unfettered access to systems they control, but they're also ideal for hackers who want to run them in the shadows.

**Jordi Hays** (4:06)
Unfettered intelligence.

**John Coogan** (4:08)
Unfettered, oh, that's a good...

**Jordi Hays** (4:10)
We are completely out of names for new Neolabs.

**John Coogan** (4:13)
That's a good Neolab name, yeah.

**Jordi Hays** (4:15)
Unfettered intelligence.

**John Coogan** (4:16)
Unfettered intelligence is good.
Glm 5.2 has ranked as one of the top 10 most used AI models according to data from OpenRouter, a company that provides access to more than 400 AI models. And what a fantastic business. Alex Attala over there. Absolutely cooking at OpenRouter. It's such an exciting way to plug into the AI race without actually needing to play the benchmark game so much.