In the All-In Podcast on October 17, 2026, four panelists discussed AI stock volatility, CoreWeave debt concerns, and Anthropic's financials. They agreed the turbulence is a normal market adjustment amid rapid growth, not a bubble burst, and that AI compute remains in structural shortage. Palihapitiya warned about AI infrastructure's reliance on floating-rate financing and suggested Anthropic cut its IPO valuation to $1 trillion to raise $200-250 billion to secure compute capacity.
In his speech, Gerstner said the current market rally is driven by corporate earnings rather than a valuation bubble, but the key conditions sustaining the AI trade are narrowing. He cited data showing that Anthropic, OpenAI and SpaceX have combined annualized revenue of about $100 billion, which needs to grow to $180-200 billion by year-end to support valuations. He is maintaining a medium position, warning that 2026 expectations have been priced in and that investors need to follow the facts and stay flexible.