Matt Turck speaks with Mistral research lead Pierre Stock about Le Chonk, described as the West's largest open source model. Stock discusses the team training on 3,800 GPUs in its own data center, the fact that Le Chonk is still in training, what Mistral borrowed from DeepSeek, and the trade-off between open-sourcing weights and refusal behavior for cybersecurity. The episode also mentions that Mistral Large 5 will be released later.
In his 2026 annual letter to shareholders, Microsoft CEO Satya Nadella proposed building a frontier ecosystem and introduced cost-to-outcome—the business results obtained per unit of token spend—as a new optimization metric. In fiscal year 2026, Microsoft's revenue reached $331.8 billion, up 18% year over year; Azure grew 41%, surpassing $100 billion for the first time; M365 Copilot paid seats exceeded 30 million, and GitHub Copilot users reached 50 million. The letter states that interaction is shifting from synchronous chat to asynchronous agents, with the harness separated from the model; Foundry offers more than 11,000 models and has over 100,000 customers, and Microsoft Frontier Co. was established, deploying 6,000 experts on-site.
In his 2026 annual letter to shareholders, Microsoft CEO Satya Nadella proposed building a frontier ecosystem and introduced cost-to-outcome—the business results obtained per unit of token spend—as a new optimization metric. In fiscal year 2026, Microsoft's revenue reached $331.8 billion, up 18% year over year; Azure grew 41%, surpassing $100 billion for the first time; M365 Copilot paid seats exceeded 30 million, and GitHub Copilot users reached 50 million. The letter states that interaction is
SF Compute CEO Evan Conrad said on the Latent Space podcast that the compute market must first achieve physical delivery—that is, actually delivering usable GPU compute—before discussing financialization; otherwise, market manipulation and basis risk are likely to arise. He said SF Compute has already put 5% of its capacity on the order book, and that customers who spend $100 to buy capacity can on average recover $25 by reselling it, with hundreds of millions of dollars in trading volume already completed. He also said the company does not hold hardware in order to remain neutral, and that it already supports customers in partitioning InfiniBand fabric online themselves.
SF Compute CEO Evan Conrad said on the Latent Space podcast that the compute market must first achieve physical delivery—that is, actually delivering usable GPU compute—before discussing financialization; otherwise, market manipulation and basis risk are likely to arise. He said SF Compute has already put 5% of its capacity on the order book, and that customers who spend $100 to buy capacity can on average recover $25 by reselling it, with hundreds of millions of dollars in trading volume alread
In the first three quarters, iFlytek's revenue was 18.187 billion yuan, and net profit attributable to shareholders was 21.8872 million yuan, but non-recurring net profit showed a loss of 763 million yuan, more than double the 338 million yuan loss in the same period last year. The book turnaround to positive was mainly due to 471 million yuan in government subsidies, 370 million yuan in equity appreciation of invested companies, and 84 million yuan in asset disposal income, totaling about 785 million yuan. The company's R&D expenses in the first three quarters were 3.850 billion yuan, accounting for more than 21% of revenue, and it attributed the widened non-recurring loss to continued investment in the self-controlled large model route; in public domestic large model tenders in the third quarter, iFlytek ranked first in both the number and amount of bids won.
In the first three quarters, iFlytek's revenue was 18.187 billion yuan, and net profit attributable to shareholders was 21.8872 million yuan, but non-recurring net profit showed a loss of 763 million yuan, more than double the 338 million yuan loss in the same period last year. The book turnaround to positive was mainly due to 471 million yuan in government subsidies, 370 million yuan in equity appreciation of invested companies, and 84 million yuan in asset disposal income, totaling about 785 m