{"id":1666777,"date":"2026-07-15T18:23:15","date_gmt":"2026-07-15T22:23:15","guid":{"rendered":"https:\/\/observer.com\/?post_type=listicle&#038;p=1666777"},"modified":"2026-07-16T10:11:19","modified_gmt":"2026-07-16T14:11:19","slug":"2026-ai-power-index","status":"publish","type":"listicle","link":"https:\/\/observer.com\/list\/2026-ai-power-index\/","title":{"rendered":"Observer&#8217;s 2026 A.I. Power Index: Who Controls the Capital Flow in A.I"},"content":{"rendered":"<div class=\"has-text-align-left wp-block-post-date has-medium-font-size\"><time datetime=\"2026-07-15T18:23:15-04:00\">July 15, 2026<\/time><\/div>\n\n\n<p><strong>Power in artificial intelligence has stopped moving through the channels everyone was trained to watch. <\/strong>There was a time (not long ago, though it already feels quaint) when you could rank the field by compute and capital raised, and the ranking would roughly match reality. That scoreboard no longer explains who wins.<\/p>\n\n\n\n<p>There are other A.I. Power Lists, but ours asks one question and holds to it: Who, over the last twelve months, has controlled the flow of capital in artificial intelligence? The money, where it moves, who moves it and who is waiting.<\/p>\n\n\n\n<p>The honorees below make decisions that everyone (downstream and up) follows, but the mechanisms of power in A.I. shift faster than in any other sector that history has ever chronicled, so whether their leverage compounds is a question we look forward to asking next year.<\/p>\n\n\n\n<section class=\"wp-block-observer-listicle-toc\">\n\t<div class=\"wp-block-observer-listicle-toc__container\">\n\t\t\t\t<h2 class=\"h2 wp-block-observer-listicle-toc__title\">\n\t\t\tThe Most Powerful People in A.I.\t\t<\/h2>\n\t\t\n\t\t\t\t\t<div class=\"wp-block-observer-listicle-toc__list-wrapper\">\n\t\t\t\t<ul class=\"wp-block-observer-listicle-toc__list\">\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#elon-musk\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tElon Musk\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#sundar-pichai\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tSundar Pichai\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#dario-amodei\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tDario Amodei\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#mark-zuckerberg\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMark Zuckerberg\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#sam-altman\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tSam Altman\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#jensen-huang\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tJensen Huang\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#prince-mohammed-bin-salman\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tPrince Mohammed bin Salman\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#stephen-a-schwarzman\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tStephen A. Schwarzman\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#satya-nadella\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tSatya Nadella\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#liang-wenfeng\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tLiang Wenfeng\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#sheikh-tahnoon-bin-zayed-al-nahyan\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tSheikh Tahnoon bin Zayed Al Nahyan\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#patrick-collison\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tPatrick Collison\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#masayoshi-son\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMasayoshi Son\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#vinod-khosla\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tVinod Khosla\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#lisa-su\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tLisa Su\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#marc-andreessen\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMarc Andreessen\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#andy-jassy\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tAndy Jassy\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#krishna-rao\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tKrishna Rao\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#andrew-feldman\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tAndrew Feldman\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#cristiano-amon\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tCristiano Amon\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#larry-ellison\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tLarry Ellison\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#ali-ghodsi\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tAli Ghodsi\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#sarah-friar\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tSarah Friar\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#tareq-amin\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tTareq Amin\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#jonathan-ross\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tJonathan Ross\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#alexandr-wang\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tAlexandr Wang\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#brad-gerstner\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tBrad Gerstner\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#robert-f-smith\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tRobert F. Smith\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#shawn-edwards\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tShawn Edwards\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#brett-adcock\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tBrett Adcock\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#hemant-taneja\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tHemant Taneja\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#andrej-karpathy\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tAndrej Karpathy\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#thomas-kurian\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tThomas Kurian\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#matthew-prince\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMatthew Prince\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#marco-argenti\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMarco Argenti\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#john-jumper\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tJohn Jumper\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#harry-sideris\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tHarry Sideris\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#john-furner\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tJohn Furner\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#peter-thiel\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tPeter Thiel\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#larry-fink\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tLarry Fink\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#amy-hood\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tAmy Hood\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#chris-cox\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tChris Cox\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#william-j-fehrman\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tWilliam J. Fehrman\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#michael-dell\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMichael Dell\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#bernard-gavgani\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tBernard Gavgani\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#eric-glyman-karim-atiyeh\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tEric Glyman &amp; Karim Atiyeh\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#robert-m-bob-blue\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tRobert M. (Bob) Blue\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#tekedra-mawakana\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tTekedra Mawakana\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#mustafa-suleyman\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMustafa Suleyman\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#michael-truell\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMichael Truell\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#scott-wu\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tScott Wu\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#robin-vince\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tRobin Vince\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#kevin-ooley\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tKevin Ooley\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#misha-laskin-ioannis-antonoglou\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMisha Laskin &amp; Ioannis Antonoglou\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#mira-murati\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMira Murati\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#reid-hoffman\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tReid Hoffman\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#shishir-mehrotra\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tShishir Mehrotra\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#ivan-zhang-aidan-gomez-nick-frosst\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tIvan Zhang, Aidan Gomez &amp; Nick Frosst\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#daphne-koller\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tDaphne Koller\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#ogi-redzic\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tOgi Redzic\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#raquel-urtasun\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tRaquel Urtasun\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#brian-armstrong\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tBrian Armstrong\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#yann-lecun\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tYann LeCun\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#demis-hassabis\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tDemis Hassabis\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#walid-mehanna\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tWalid Mehanna\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#ilya-sutskever\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tIlya Sutskever\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#arvind-krishna\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tArvind Krishna\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#vikram-bajaj\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tVikram Bajaj\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#jim-burke\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tJim Burke\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#bret-taylor-clay-bavor\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tBret Taylor &amp; Clay Bavor\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#aravind-srinivas\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tAravind Srinivas\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#will-marshall\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tWill Marshall\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#ravi-kumar\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tRavi Kumar\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#tobias-lutke\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tTobias L\u00fctke\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#jaakko-kokko\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tJaakko Kokko\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#matt-anderson\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMatt Anderson\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#rene-haas\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tRene Haas\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#clement-delangue-julien-chaumond-thom-wolf\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tCl\u00e9ment Delangue, Julien Chaumond &amp; Thom Wolf\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#michael-kratsios\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMichael Kratsios\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#cristobal-valenzuela\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tCristo\u0301bal Valenzuela\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#eric-schmidt\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tEric Schmidt\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#ravi-mhatre\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tRavi Mhatre\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#tuhin-srivastava\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tTuhin Srivastava\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#fei-fei-li\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tFei-Fei Li\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#lin-qiao\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tLin Qiao\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#palmer-luckey\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tPalmer Luckey\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#joe-lonsdale\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tJoe Lonsdale\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#guillaume-lample-timothee-lacroix-arthur-mensch\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tGuillaume Lample, Timoth\u00e9e Lacroix &amp; Arthur Mensch\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#piotr-dabkowski-mati-staniszewski\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tPiotr D\u0105bkowski &amp; Mati Staniszewski\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#parminder-bhatia\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tParminder Bhatia\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#laurel-taylor\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tLaurel Taylor\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#minna-song-stoyan-tony-stoyanov\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMinna Song &amp; Stoyan (Tony) Stoyanov\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle-toc__element-wrapper wp-block-observer-listicle-toc__element-wrapper--hidden\">\n\t\t\t\t\t\t<a\n\t\t\t\t\t\t\tclass=\"wp-block-observer-listicle-toc__element\"\n\t\t\t\t\t\t\thref=\"#malte-kosub\"\n\t\t\t\t\t\t>\n\t\t\t\t\t\t\tMalte Kosub\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t<button type=\"button\" class=\"wp-block-observer-listicle-toc__expand\">\n\t\t\t\t\tView all 93 items\t\t\t\t<\/button>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"elon-musk\">\n\t\t\t\t\n\t\t\t\t\tElon Musk\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#elon-musk\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Elon Musk' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder of xAI; CEO of Tesla &amp; SpaceX<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Elon Musk became the A.I. industry\u2019s largest disruptor and financier this year after rolling his LLM, social media and space businesses into a $1.75 trillion juggernaut debuting on Nasdaq. In February, Musk\u2019s SpaceX acquired xAI, which had absorbed the social media platform X the previous year, in a deal that valued SpaceX at about $1 trillion and xAI at $250 billion. The series of deals fused rocket and satellite production, internet services, A.I. research, data centers and social media into one vertically integrated tech giant. It also formalized <a href=\"https:\/\/observer.com\/2026\/05\/elon-musk-spacex-ipo-x-superapp-ambition\/\">Musk\u2019s lifelong ambition<\/a> to build an all-encompassing business empire under the \u201cX\u201d brand.<br><br>Musk\u2019s long-term goal is to move the energy-intensive process of running A.I. systems off-planet. In SpaceX\u2019s IPO filings, he pitched the idea of space-based data centers using satellites and solar power, which would be vastly cheaper than land-based infrastructure. SpaceX has filed for permission to put as many as one million satellites in Earth\u2019s orbit. Musk estimates the technology <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.pv-magazine.com\/2026\/01\/26\/musk-at-wef-solar-space-based-ai-data-centers-possible-in-two-to-three-years\/\">could be cost-competitive in two to three years<\/a>.<br><br>In March, Musk unveiled Terafab, a massive semiconductor initiative designed to give Tesla, SpaceX and xAI direct control over the chips powering their A.I. systems. The project&#8217;s ultimate goal is to generate one terawatt of annual compute capacity. The initial phase is estimated to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/spacex-plans-55-billion-chip-plant-texas-2026-05-06\/\">cost $55 billion<\/a>, with total investments projected to<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/05\/06\/elon-musks-spacex-chip-fab-in-texas-to-cost-up-to-119-billion.html\"> reach $119 billion.<\/a> Musk\u2019s team has already begun <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/autos-transportation\/musks-staff-reaches-out-suppliers-terafab-project-bloomberg-news-reports-2026-04-16\/\">reaching out to supply partners<\/a> with the goal of beginning silicon production by 2029.<br><br>Terafab plans to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/finance.yahoo.com\/sectors\/technology\/articles\/intel-lands-key-first-customer-for-14a-chip-tech-with-teslas-terafab-project-musk-says-222942947.html\">use Intel\u2019s next-generation 14A process<\/a> for eventual mass production in Grimes County, Texas. In April, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.basenor.com\/blogs\/news\/tesla-breaks-ground-on-terafab-chip-facility-at-giga-texas\">Tesla broke ground on an initial $3 billion R&amp;D pilot facility <\/a>at Tesla\u2019s Giga Texas in Austin. This research fab will test and prototype chips for Tesla&#8217;s cars and Optimus robots at a limited scale.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Elon-Musk.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tElon Musk.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"sundar-pichai\">\n\t\t\t\t\n\t\t\t\t\tSundar Pichai\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#sundar-pichai\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Sundar Pichai' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Google &amp; Alphabet<\/strong> <strong>Inc.<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Sundar Pichai spent the past year proving that Google can keep pace in A.I. without compromising the business it already has. Alphabet\u2019s share price doubled over the past 12 months, while most of its Big Tech peers moved far less, and the company has backed that confidence with heavy spending. After investing about $91 billion in 2025, it lifted its projected 2026 capital expenditure to between $180 billion and $190 billion. <br><br>Alphabet has already crossed the $100 billion quarterly revenue mark, and Google Cloud has continued to post strong growth. Gemini has also reached a wide audience, surpassing more than 900 million monthly active users, and \u201cAI Mode\u201d in Search has passed 1 billion monthly users, Pichai said at Google I\/O in May.<br><br>Pichai has argued that A.I. is becoming central to how Google works and how people search, write and code. At Cloud Next in April, he highlighted Google\u2019s internal use of A.I., saying 75 percent of new code at the company is now A.I.-generated and then reviewed by engineers, up from 50 percent the previous fall. He also unveiled Google\u2019s eighth-generation Tensor Processing Units, built for heavy training workloads.<br><br>That same month, Google introduced Gemini Enterprise Agent Platform, aimed at helping companies manage fleets of A.I. agents rather than just experiment with them. Pichai\u2019s broader message is that Google wants to control the full stack, from A.I. chips to Search and Android, while keeping users inside its own ecosystem. That makes this a much bigger bet than a simple Gemini-versus-ChatGPT contest.<br><\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Sundar-Pichai.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tSundar Pichai.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"dario-amodei\">\n\t\t\t\t\n\t\t\t\t\tDario Amodei\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#dario-amodei\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Dario Amodei' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO, Anthropic<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Anthropic, currently the world&#8217;s most valuable private A.I. startup valued at $965 billion, is <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/confidential-draft-s1-sec\">poised for a trillion-dollar <\/a>public market debut. It&#8217;s a remarkable ascent for a company that was seen as a cautious alternative to OpenAI just a few years ago. In May, Amodei said Anthropic had posted <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=ZC-XCr106T0\">an 80-fold<\/a> annual increase in revenue and usage in the first quarter of 2026, pushing projected annualized revenue past $47 billion.<br><br>That growth has come alongside sharper political and regulatory scrutiny. After Anthropic temporarily suspended access to Claude Fable 5 in June, Amodei <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/darioamodei.com\/post\/policy-on-the-ai-exponential\">argued in an essay <\/a>that governments should be able to block or delay deployment of models judged, on the basis of third-party assessment, to pose unacceptable risks. He followed that by announcing <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/policy-on-the-ai-exponential\/epf\">$200 million<\/a> for research into public policy on A.I. and another $150 million for a national fellowship aimed at spreading the benefits of A.I. more broadly across the U.S.<br><br>Meanwhile, the company\u2019s appetite for compute continues to grow. In April, Amodei <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/04\/07\/anthropic-compute-deal-google-broadcom-tpus\/\">secured 5 gigawatts<\/a> of next-generation compute capacity with Google and Broadcom, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/google-broadcom-partnership-compute\">beginning in 2027<\/a>,  to support future frontier models. Anthropic has also committed more than $100 billion over ten years to Amazon cloud infrastructure in exchange for up to 5 gigawatts of additional capacity, while Amazon has said it will invest as much as $25 billion in the company.<br><br>In addition, Anthropic has announced a $50 billion data center buildout in Texas and New York. It has also pledged $30 billion toward Microsoft Azure compute and agreed to buy up to 1 gigawatt of Nvidia hardware.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/07\/Dario-Amodei.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tDario Amodei.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Anthropic\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"mark-zuckerberg\">\n\t\t\t\t\n\t\t\t\t\tMark Zuckerberg\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#mark-zuckerberg\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Mark Zuckerberg' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder, Chairman &amp; CEO of Meta<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Mark Zuckerberg overhauled Meta\u2019s A.I. team last year after deciding that simply playing catch-up was no longer enough. In June 2025, Zuckerberg launched Meta Superintelligence Labs to pursue advanced machine intelligence and tapped Alexandr Wang, the Scale AI co-founder and former chief executive, to lead the effort after Meta <a href=\"https:\/\/observer.com\/2025\/06\/alexandr-wang-leaves-scale-ai-meta\/\">took a $14.3 billion 49 percent stake in his company.<\/a> Since then, MSL has absorbed Meta\u2019s FAIR (Fundamental AI Research) team in an effort to unify frontier-model development with product deployment.<br>Zuckerberg has said he would rather risk \u201c<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businessinsider.com\/mark-zuckerberg-meta-risk-billions-miss-superintelligence-ai-bubble-2025-9\">misspending a couple of hundred billion<\/a>\u201d than fall behind in A.I. That urgency has carried into 2026, with Meta raising its capital spending forecast to as much as $145 billion, after spending $72.2 billion in 2025. This week, the company announced plans to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/meta-put-ai-chip-into-production-september-it-looks-double-computing-capacity-2026-07-09\/\">begin producing its custom Iris A.I. chip<\/a> in September in an effort to double computing capacity.\u00a0<br><br>For now, Meta\u2019s ad business is still strong enough to bankroll the ambition. The company generated $201 billion in revenue last year and is on pace to reach roughly $250 billion this year, according to Wall Street estimates. In the first quarter of 2026, Meta generated $56.3 billion in revenue\u2014a 33 percent year-over-year increase\u2014and $26.8 billion in net income.<br><br>Over the past year, Meta\u2019s major A.I. releases have included April\u2019s Muse Spark, the first major model out of MSL, <a href=\"https:\/\/observer.com\/2026\/06\/meta-unveil-new-smart-glasses-kylie-jenner-collab\/\">the new Meta Glasses in June<\/a> and Muse Image in July. Zuckerberg has cast the effort as a bid to build \u201cpersonal superintelligence,\u201d and he has said Meta will keep shipping products throughout the year rather than wait for a single breakthrough. With apps that already reach billions of users, Meta has a distribution advantage that rivals still have to buy.<br><br>He has also been candid about the growing pains. In May, Meta notified roughly 8,000 employees of layoffs and reassigned about 7,000 others to A.I.-focused roles as part of a broader reorganization. Zuckerberg has acknowledged how hard the transition has been, telling employees in July that A.I. agent development had not accelerated as quickly as expected. In July, Meta also expanded its Hyperion data center in Louisiana to five gigawatts of planned computing capacity, increasing the project\u2019s expected investment to more than $50 billion.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Mark-Zuckerberg.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMark Zuckerberg.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Meta\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"sam-altman\">\n\t\t\t\t\n\t\t\t\t\tSam Altman\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#sam-altman\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Sam Altman' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of OpenAI<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">On February 27, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/02\/27\/open-ai-funding-round-amazon.html\">Sam Altman closed a $110 billion funding round for OpenAI<\/a> at a $730 million pre-money valuation. On March 31, OpenAI closed the expanded round with $122 billion in committed capital at an $852 billion post-money valuation, in what was likely the largest private technology financing to date. The funding included\u00a0 <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/openais-110-billion-funding-round-draws-investment-amazon-nvidia-softbank-2026-02-27\/\">$50 billion from Amazon,<\/a> $30 billion from Nvidia, and $30 billion from SoftBank, with Microsoft and additional financial investors contributing to the expanded round. The financing reshaped OpenAI\u2019s partnerships. Amazon Web Services became the exclusive third-party cloud provider for the company\u2019s enterprise platform, Frontier. This prompted Microsoft and OpenAI to renegotiate their longstanding partnership. In April, the two companies amended their agreement, easing exclusivity terms to allow OpenAI to operate across multiple clouds while keeping Azure as the primary platform. Meanwhile, OpenAI\u2019s chatbot, ChatGPT, surpassed<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/02\/27\/chatgpt-reaches-900m-weekly-active-users\/\"> 900 million weekly users<\/a> and 50 million paying subscribers as of February of this year.<br><br>Growth came at a price. OpenAI <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/openai-burned-37-billion-first-quarter-2026-information-reports-2026-06-16\/\">burned $3.7 billion in Q1 2026<\/a> alone against $5.7 billion in revenue. At the company&#8217;s &#8220;Intelligence at Work&#8221; event on June 2, Altman acknowledged that enterprise customers have become increasingly weary of costs after spending much of the year chasing model capability.\u00a0<br><br>Days after the Capitol Hill appearance came a rupture with OpenAI&#8217;s most important distribution partner. On July 10,<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/07\/10\/apple-openai-lawsuit-trade-secrets.html\"> Apple sued OpenAI<\/a> in federal court in Northern California, alleging trade secret misappropriation and breach of contract in the development of OpenAI&#8217;s unreleased consumer hardware. The complaint names hardware chief Tang Tan, a former Apple vice president, and engineer Chang Liu as defendants alongside io, the Jony Ive venture OpenAI acquired for $6.5 billion, and claims the misconduct ran &#8220;at every level&#8221; of the company.\u00a0<br><br>Apple, which<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.axios.com\/2026\/07\/10\/apple-sues-openai-trade-secret-theft\"> says more than 400 of its former employees now work at OpenAI<\/a>, is seeking damages and an injunction barring OpenAI from using its trade secrets. &#8220;We have no interest in other companies&#8217; trade secrets,&#8221; an OpenAI spokesperson said. The suit further strains, but has not formally ended, the 2024 partnership that put ChatGPT inside the iPhone, and lands squarely on the two bets Altman has staked the next phase on: the hardware device expected this year and the IPO the company continues to weigh.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Sam-Altman.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tSam Altman.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"jensen-huang\">\n\t\t\t\t\n\t\t\t\t\tJensen Huang\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#jensen-huang\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Jensen Huang' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of Nvidia<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Last year, Nvidia&#8217;s data center business grew more than 140 percent from the previous year to $115 billion, accounting for the vast majority of its total revenue. The company&#8217;s Blackwell platform alone generated $11 billion in its first quarter of production. These numbers speak more than a runaway demand for GPUs; they illustrate Nvidia&#8217;s absolute grip on the physical infrastructure powering A.I. globally.<br><br>That reach is increasingly global. In June, Jensen Huang used a trip to South Korea to line up a web of partnerships with SK Group, Naver, LG Group, Hyundai and Doosan. The most important deal was a multi-year agreement with SK Hynix, which helps secure Nvidia\u2019s supply of advanced memory for its Vera Rubin supercomputing platform. SK Telecom also committed to building a gigawatt-scale A.I. cloud environment around Nvidia\u2019s architecture, while Hyundai outlined plans for an A.I. Valley testing hub for autonomous systems. <br> <br>Huang has also used Nvidia\u2019s giant balance sheet as a weapon. Through NVentures, the company\u2019s venture arm, Nvidia has backed a growing list of startups across enterprise software, infrastructure and robotics, giving Huang outsize influence over which young companies get capital, compute and customers. At the same time, he has become one of the loudest public voices on U.S.-China export controls and the politics of semiconductor power, a role that now reaches far beyond Silicon Valley.<br><br>In May, Huang delivered Carnegie Mellon\u2019s commencement address and made his familiar case that A.I. is less a threat than a tool to be mastered. \u201c<a href=\"https:\/\/observer.com\/2026\/05\/nvidia-ceo-jensen-huang-ai-advice-college-graduates\/\">A.I. is not likely to replace you,<\/a>\u201d he told graduates. \u201cBut someone using A.I. better than you might. Do not fear the future\u2014guide it.\u201d In July, Nvidia also shipped a limited number of H200 chips to China, a reminder that even amid tighter restrictions, the company still sits at the center of the global contest for compute.<a target=\"_blank\" target=\"_blank\" href=\"https:\/\/blog.google\/company-news\/inside-google\/message-ceo\/google-io-2024-keynote-sundar-pichai\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><br><\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Jensen-Huang.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tJensen Huang.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of NVIDIA\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"prince-mohammed-bin-salman\">\n\t\t\t\t\n\t\t\t\t\tPrince Mohammed bin Salman\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#prince-mohammed-bin-salman\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Prince Mohammed bin Salman' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Chairman of Public Investment Fund<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Crown Prince Mohammed bin Salman chairs Saudi Arabia&#8217;s Public Investment Fund (PIF), a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.pif.gov.sa\/en\/\">$900 billion sovereign wealth fund<\/a> that backed Humain, a PIF-owned A.I. company that will build data centers, cloud infrastructure, frontier models and A.I. applications.<br><br>Launched in May of 2025, Humain quickly became the Kingdom&#8217;s A.I. dealmaking vehicle. <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.aboutamazon.com\/news\/company-news\/amazon-aws-humain-ai-investment-in-saudi-arabia\">Amazon Web Services <\/a>committed to invest more than $5 billion in an A.I. Zone in Saudi Arabia for AI infrastructure, services and talent development. In May 2025, they expanded their partnership with <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/nvidianews.nvidia.com\/news\/humain-and-nvidia-announce-strategic-partnership-to-build-ai-factories-of-the-future-in-saudi-arabia\">Nvidia<\/a>, which agreed to supply hundreds of thousands of GPUs over five years, beginning with 18,000 Blackwell GPUs. <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.amd.com\/en\/newsroom\/press-releases\/2025-5-13-amd-and-humain-form-strategic--10b-collaboration-.html\">AMD announced a $10 billion collaboration to build 500 megawatts of A.I. computing infrastructure<\/a> over that same time frame.<br><br>Under Salman\u2019s leadership, in February 2026, Humain invested <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.ft.com\/content\/c3b9036e-f385-4b13-9cb0-d12f5848caba\">$3 billion in xAI,<\/a> becoming a significant minority shareholder before the stake converted into SpaceX equity following Elon Musk&#8217;s merger of the two companies. Humain&#8217;s Chat feature, powered by the Arabic-first large language model, ALLaM, targets government and enterprise applications for<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.arabnews.com\/node\/2614195\/amp\"> more than 400 million Arabic speakers<\/a>. The Saudi Data and Artificial Intelligence Authority (SDAIA) says its programs have trained more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/vision2030.ai\/analysis\/year-of-ai\/\">one million Saudis<\/a> in A.I. skills within a year.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Prince-Mohammed-bin-Salman-1.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tPrince Mohammed bin Salman.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"stephen-a-schwarzman\">\n\t\t\t\t\n\t\t\t\t\tStephen A. Schwarzman\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#stephen-a-schwarzman\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Stephen A. Schwarzman' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Chairman, CEO &amp; Co-Founder of Blackstone<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Stephen A. Schwarzman has long believed that artificial intelligence will be one of the most significant technological shifts of our lifetime and has positioned Blackstone, the world&#8217;s largest alternative asset manager, as a leading investor across the A.I. value chain.<br>\u00a0<br>In 2018\u2014long before A.I. was front of mind for most\u2014Schwarzman made a $350 million donation to MIT to establish the Schwarzman College of Computing, a landmark initiative aimed at advancing A.I. research and integrating computing across disciplines. The gift helped reorient MIT to address the opportunities and challenges presented by the rise of A.I., including critical ethical and policy considerations. The following year, he contributed $250 million to Oxford University to establish the Schwarzman Centre for the Humanities, which opened in 2025 and includes the Institute for Ethics in A.I. This giving catalyzed further investment in A.I. by universities around the world.<br>\u00a0<br>Schwarzman&#8217;s early conviction has made Blackstone one of the largest investors in A.I.-related infrastructure in the world\u2014and the largest and most active investor in data centers globally. The firm currently has $150 billion+ of data center assets, including those under construction, and another $160 billion in the development pipeline.<br>\u00a0<br>In the first half of 2026, Blackstone announced a new <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.blackstone.com\/news\/press\/anthropic-partners-with-blackstone-hellman-friedman-and-goldman-sachs-to-launch-enterprise-ai-services-firm\/\">A.I.-native enterprise services company<\/a> with Anthropic, launched a strategic partnership with Google that includes an initial <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.blackstone.com\/news\/press\/blackstone-announces-joint-venture-with-google-to-create-new-tpu-cloud\/\">$5 billion equity commitment<\/a> to build a U.S.-based TPU-powered cloud platform, took a data center company public (BXDC), and established <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.linkedin.com\/posts\/we-recently-announced-blackstone-n1-bxn1-share-7459738619872886784-eETY\/\">BXN1<\/a>, a dedicated platform for investing across the rapidly expanding A.I. ecosystem.<br>\u00a0<br>In April, Schwarzman <a href=\"https:\/\/observer.com\/2026\/05\/16-business-leaders-to-join-trump-on-high-stakes-china-trip-with-notable-absences\/\">joined President Donald Trump<\/a> in Beijing for a two-day summit with Chinese President Xi Jinping, alongside other leading CEOs, to advance U.S.-China dialogue on trade, semiconductor exports, artificial intelligence and more.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Stephen-A.-Schwarzman.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tStephen A. Schwarzman.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Blackstone\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"satya-nadella\">\n\t\t\t\t\n\t\t\t\t\tSatya Nadella\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#satya-nadella\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Satya Nadella' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Microsoft<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Microsoft\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/04\/27\/openai-microsoft-partnership-revenue-cap.html\">$13.8 billion investment in OpenAI<\/a> translated into a 27 percent stake valued at roughly $135 billion after the company restructured into a public benefit corporation in October 2025. Satya Nadella preserved Microsoft\u2019s rights to OpenAI\u2019s intellectual property through 2032, including future frontier models under the revised agreement.\u00a0<br><br>Nadella spent the following months protecting that position. In February, after <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/openai.com\/index\/amazon-partnership\/\">Amazon announced a $50 billion investment<\/a> in OpenAI and became the exclusive third-party cloud provider for its Frontier enterprise platform, Microsoft publicly asserted its contractual rights before <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/04\/27\/openai-ends-microsoft-legal-peril-over-its-50b-amazon-deal\/\">renegotiating the partnership in April.<\/a> The revised agreement preserved Microsoft\u2019s nonexclusive IP license through 2032 while keeping Azure as OpenAI\u2019s primary cloud platform.\u00a0<br><br>Microsoft\u2019s own A.I. business keeps growing. Azure revenue grew <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.microsoft.com\/en-us\/investor\/earnings\/fy-2026-q3\/press-release-webcast?\">40 percent<\/a> year over year in the fiscal third quarter of 2026. Microsoft 365 Copilot crossed <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/t.co\/tB5MDAxHgW\">20 million paid seats<\/a> in April, up from <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/retail-consumer\/microsoft-reports-cloud-growth-line-with-expectations-2026-04-29\/\">15 million<\/a> three months earlier. Microsoft also landed its largest Copilot deployment to date, rolling the software out to roughly<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/accenture-roll-out-copilot-all-743000-employees-boost-microsoft-2026-04-27\/\"> 743,000 Accenture employees<\/a> in April. Rather than owning every frontier model, Nadella is making its product offerings the infrastructure through which enterprises buy, deploy and manage them.\u00a0<br><br>As <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/satyanadella\/status\/2066182223213293753\">Nadella put it in a long essay on X<\/a> posted on June 14, \u201cThe real opportunity is not in picking the best model but instead in building a learning loop on top of models where human capital and token capital compound.\u201d\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Satya-Nadella.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tSatya Nadella.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Microsoft\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"liang-wenfeng\">\n\t\t\t\t\n\t\t\t\t\tLiang Wenfeng\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#liang-wenfeng\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Liang Wenfeng' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of DeepSeek<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In June 2026, DeepSeek CEO Liang Wenfeng raised more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/chinas-deepseek-closes-over-7-billion-funding-with-unusual-deal-structure-2026-06-16\/\">$7.4 billion<\/a> in the company\u2019s first external financing round, valuing DeepSeek at more than $50 billion and making it China&#8217;s most valuable A.I. startup. The round came just 18 months after DeepSeek&#8217;s R1 model challenged industry assumptions about the cost of training frontier A.I. models, with the chatbot trained for a mere <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cbsnews.com\/news\/what-is-deepseek-ai-china-stock-nvidia-nvda-asml\/\">$6 million<\/a>. Following the June funding round, Liang&#8217;s net worth has more than doubled to roughly $36 billion, making him t<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbctv18.com\/photos\/technology\/deepseek-liang-wenfeng-becomes-worlds-richest-ai-founder-tops-openai-and-anthropic-rivals-19945470.htm\">he world&#8217;s richest creator of A.I. models<\/a>. <br><br>Only a month after completing its first outside financing, DeepSeek entered preliminary talks for <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/china\/chinas-deepseek-considers-new-fundraising-after-first-round-ft-reports-2026-07-14\/\">another round that could value the company at roughly $71 billion<\/a> before the new investment. The company has also reportedly begun preparing for a possible IPO, potentially giving Liang access to public-market capital as DeepSeek builds its own data center and acquires more chips for autonomous A.I. agents.<br><br>Liang <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/chinas-deepseek-closes-over-7-billion-funding-with-unusual-deal-structure-2026-06-16\/\">structured the financing<\/a> to preserve his control. Most investors, including Tencent, CATL, JD.com, NetEase and IDG Capital, invested through a limited partnership that Liang manages, accepted a five-year lock-up and received no voting rights. China&#8217;s National Artificial Intelligence Industry Investment Fund invested directly, making it the only major investor to receive voting rights.<br><br>The financing marks a shift for a company that long rejected outside capital. DeepSeek plans to use the proceeds to expand its compute infrastructure, retain researchers and commercialize its next-generation models, including DeepSeek V4. It will continue its open-weight approach despite U.S. <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/china\/us-holds-off-blacklisting-chinas-deepseek-more-than-100-firms-deemed-security-2026-06-17\/\">sanctions and export restrictions<\/a> on advanced chips, seeking innovative ways to achieve more for less.\u00a0\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Liang-Wenfeng.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tLiang Wenfeng.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"sheikh-tahnoon-bin-zayed-al-nahyan\">\n\t\t\t\t\n\t\t\t\t\t<strong>Sheikh Tahnoon bin Zayed Al Nahyan<\/strong>\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#sheikh-tahnoon-bin-zayed-al-nahyan\"\n\t\t\t\t\t\taria-label=\"Copy link to '&lt;strong&gt;Sheikh Tahnoon bin Zayed Al Nahyan&lt;\/strong&gt;' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>UAE National Security Advisor; Chairman of G42 &amp; MGX<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Nobody moves A.I. capital at the scale UAE National Security Advisor Sheikh Tahnoon bin Zayed Al Nahyan does. Through MGX, he has backed<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2025\/10\/15\/abu-dhabis-mgx-investments-in-trump-crypto-tiktok-openai-.html\"> OpenAI, Anthropic, xAI and Databricks<\/a> and joined the<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2025\/10\/15\/abu-dhabis-mgx-investments-in-trump-crypto-tiktok-openai-.html\"> $500 billion Stargate project<\/a> as a partner. <span style=\"margin: 0px;padding: 0px\">His G42 holds a<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.g42.ai\/resources\/news\/abu-dhabi-launches-comprehensive-global-investment-strategy-artificial-intelligence\" target=\"_blank\">\u00a0$1.5 billion investment from Microsoft<\/a>.<\/span> In July, the U.S. Commerce Department reclassified the UAE&#8217;s export status, granting G42 license-free access to buy cutting-edge A.I. chips and servers from firms like Nvidia and AMD. Tahnoon also chairs the $790 billion Abu Dhabi Investment Authority and controls a separate $1.3 trillion business portfolio.<br><br>President Trump flew to Abu Dhabi in May 2025 and the two countries unveiled Stargate UAE, a 5GW A.I. campus spanning 10 square miles and the largest data center deployment outside the U.S. In March, Tahnoon visited the White House, pledged $1.4 trillion in U.S. investment over a decade, and helped secure 500,000 advanced Nvidia chips annually for the UAE, with one-fifth going to G42.<br><br>But a $500 million stake in President Trump&#8217;s family&#8217;s World Liberty Financial, taken by Tahnoon-backed Aryam Investment in January 2025 and months before the chip deal closed, drew Congressional corruption accusations. Tahnoon has not publicly commented.<br><br>&#8220;Today&#8217;s agreement is a testament to the ongoing collaboration between our countries in artificial intelligence,&#8221;<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/ae.usembassy.gov\/uae-and-us-presidents-attend-the-unveiling-of-phase-1-of-new-5gw-ai-campus-in-abu-dhabi\/\"> Tahnoon said<\/a> at the May 17 unveiling of Phase 1 of a 5-gigawatt A.I. campus in Abu Dhabi. The polished language belies what he built: the largest A.I. infrastructure deal in the Middle East, funded by oil money and sealed with a presidential handshake.<br><\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Sheikh-Tahnoon-bin-Zayed-Al-Nahyan-1.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tSheikh Tahnoon bin Zayed Al Nahyan.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"patrick-collison\">\n\t\t\t\t\n\t\t\t\t\tPatrick Collison\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#patrick-collison\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Patrick Collison' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Stripe<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">With 86 percent of the Forbes A.I. 50, 90 percent of the companies in the Dow Jones Index and 80 percent of the NASDAQ 100 using Stripe\u2014including OpenAI, Anthropic, Midjourney and Cohere\u2014<a href=\"https:\/\/observer.com\/2026\/02\/paypals-new-ceo-enrique-lores-promises-aggressive-innovation\/\">co-founder and CEO Patrick Collison<\/a> has positioned the <a href=\"https:\/\/observer.com\/2025\/10\/the-dollar-without-washington\/\">payments platform<\/a> as a core piece of economic infrastructure behind A.I. companies. At Stripe Sessions 2026 in April, the company said businesses on its platform processed $1.9 trillion in total volume in 2025, up 34 percent year over year, a growth rate roughly 17 times that of the global economy.\u00a0<br><br>In July, Collison <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.crossriver.com\/newsroom\/cross-river-expands-stripe-issuing-partnership-to-help-power-agentic-commerce\">expanded a partnership with fintech company Cross River<\/a> as part of a broader strategy to build out agentic commerce, which allows A.I. agents to make purchases on a user\u2019s behalf with a restricted, single-use virtual card via their Link wallet. The technology is designed to meet strict know-your-customer (KYC) and anti-money laundering regulatory requirements. Agentic commerce is poised to reach <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.juniperresearch.com\/press\/agentic-commerce-set-to-generate-15-trillion-globally-by-2030-as-payments-infrastructure-leaders-revealed\/\">$1.5 trillion in spending by 2030<\/a>,\u00a0 according to Juniper Research, and the firm projects <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.juniperresearch.com\/research\/fintech-payments\/ecommerce\/agentic-commerce-research-report\/\">$8 billion<\/a> in transaction value for 2026. Collison\u2019s advancement in the space, spearheaded in part by its <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/stripe.com\/newsroom\/news\/stripe-completes-bridge-acquisition\">early 2025 acquisition<\/a> of token infrastructure company Bridge for $1.1 billion, is poised to bring agentic commerce to the mainstream.\u00a0<br><br>In 2025, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/stripe.com\/ae\/newsroom\/news\/sessions-2026\">Collison announced features <\/a>allowing businesses to sell their products inside A.I. apps, with retailers like Kate Spade, Best Buy and Coach using the tools. In April, he built on that by announcing a partnership with Google that, once live, will allow businesses to sell to consumers inside A.I. Mode and the Gemini app. This is in addition to limited <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/stripe.com\/ae\/newsroom\/news\/stripe-openai-instant-checkout\">instant checkout via ChatGPT<\/a>, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/stripe.com\/ae\/newsroom\/news\/microsoft-copilot-and-stripe\">Microsoft Copilot<\/a> and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/stripe.com\/ae\/newsroom\/news\/checkout-for-facebook\">Meta\u2019s buy now button<\/a>.<br><br>Stripe and the private equity firm Advent International reportedly submitted <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/finance\/stripe-advent-offer-buy-paypal-more-than-53-billion-sources-say-2026-07-15\/\">a joint $53 billion offer to acquire PayPal<\/a>. If completed, the deal would dramatically expand Stripe\u2019s consumer payments reach.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Patrick-Collison.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tPatrick Collison.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Stripe\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-center has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"masayoshi-son\">\n\t\t\t\t\n\t\t\t\t\tMasayoshi Son\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#masayoshi-son\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Masayoshi Son' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Chairman &amp; CEO of SoftBank Group<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Masayoshi Son committed roughly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/sites\/anuraghunathan\/2026\/06\/08\/behind-softbanks-multi-billion-dollar-bet-on-openai\/\">$65 billion to OpenAI<\/a>, putting SoftBank on track to own about 13 percent of the company after its latest financing closes. In June, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/asia.nikkei.com\/business\/markets\/equities\/softbank-dethrones-toyota-as-japan-s-most-valuable-company\">SoftBank overtook Toyota<\/a> as Japan&#8217;s most valuable company for the first time in 22 years, driven by gains in its OpenAI investment, a nearly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/05\/22\/softbank-extends-scorching-rally-surging-over-12percent-as-investors-crowd-into-ai-trade.html\">20 percent rally<\/a> in Arm Holdings following Nvidia&#8217;s May earnings and renewed expectations of an OpenAI IPO.<br><br>Son, SoftBank Group chairman and CEO, also chairs <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/openai.com\/index\/announcing-the-stargate-project\/\">Stargate<\/a>, the $500 billion A.I. infrastructure venture backed by SoftBank, OpenAI, Oracle and MGX. In January, SoftBank and OpenAI <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/energy\/openai-softbank-invest-1-billion-sb-energy-2026-01-09\/\">each invested $500 million<\/a> in SB Energy to build Stargate&#8217;s first 1.2-gigawatt data center campus in Texas. The venture&#8217;s first international deployment, Stargate UAE, will provide frontier A.I. infrastructure and model access across government and commercial institutions in the United Arab Emirates.<br><br>Son has continued recycling capital into A.I. To help finance OpenAI and Stargate, SoftBank <a href=\"https:\/\/observer.com\/2025\/12\/softbank-masayoshi-son-crying-over-selling-nvidia-shares\/\">exited its Nvidia position<\/a> while retaining its stake in Arm, valued at<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-04\/arm-s-218-billion-leap-makes-it-one-of-market-s-priciest-stocks\"> roughly $180 billion<\/a>, its largest strategic asset, as of June. In July, SoftBank reopened <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/legal\/transactional\/softbank-renews-talks-10-billion-loan-against-openai-stake-adds-concessions-2026-07-01\/\">negotiations on a $10 billion margin loan<\/a> backed by its OpenAI stake to finance additional A.I. investments, extending Son&#8217;s strategy of using existing A.I. assets to fund the next wave of infrastructure.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Masayoshi-Son.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMasayoshi Son\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"vinod-khosla\">\n\t\t\t\t\n\t\t\t\t\tVinod Khosla\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#vinod-khosla\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Vinod Khosla' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder of Khosla Ventures<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In 2019, Vinod Khosla wrote a $50 million check to OpenAI at a $1 billion valuation, becoming the company\u2019s first institutional investor. Seven years later, on March 31, OpenAI closed a $122 billion round at an $852 billion valuation.\u00a0<br><br>Khosla, whose eponymous VC is raising $3.5 billion across new flagship, growth and seed funds, continues to deploy capital across the full A.I. stack. He doubled down on OpenAI through a $405 million special-purpose vehicle in October 2024. In January 2026, he co-led <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/india\/indian-ai-startup-emergent-raises-70-million-round-led-by-softbank-khosla-2026-01-20\/\">Emergent&#8217;s $70 million Series B<\/a> alongside SoftBank after the coding-agent startup reached <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/india\/indian-ai-startup-emergent-raises-70-million-round-led-by-softbank-khosla-2026-01-20\/\">5 million users and $50 million<\/a> in annual recurring revenue within seven months. Two months later, he backed Rhoda AI, a robotics company, in a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/technology\/rhoda-ai-raises-450-million-17-billion-valuation-unveils-robot-intelligence-2026-03-10\/\">$450 million Series A.<\/a> He also continued investing in fusion companies, including Commonwealth Fusion Systems&#8217; $863 million financing and Realta Fusion to generate the energy needed to power A.I. infrastructure.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Vinod-Khosla.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tVinod Khosla.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tErin Beach, Courtesy of Khosla Ventures\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"lisa-su\">\n\t\t\t\t\n\t\t\t\t\tLisa Su\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#lisa-su\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Lisa Su' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of AMD<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In 2023, Lisa Su bet AMD&#8217;s data center roadmap on a precise technical judgment: large model inference would be memory-constrained, not compute-constrained. The resulting MI300X launched with 192GB of HBM3\u2014more than twice the capacity of Nvidia\u2019s dominant H100. Microsoft, Meta and Oracle rushed to qualify it, and AMD\u2019s data center revenue soared to $5.8 billion in Q1 2026, officially eclipsing Intel\u2019s data center business for the first time in an opening quarter.<br><br>That bet has now solidified 12 gigawatts of committed infrastructure. OpenAI signed a landmark 6-gigawatt agreement to anchor its long-term data center buildout with AMD\u2019s next-generation Instinct MI450 platform, and Meta quickly followed with an identical 6-gigawatt, $60 billion commitment. To lock in these multi-year buildouts, AMD issued both OpenAI and Meta performance-based warrants for 160 million shares apiece\u2014representing a potential 10 percent equity stake for each company. When a customer demands ownership of its supplier&#8217;s upside, they stop looking for alternatives.<br><br>Beyond commercial hyperscalers, Su is aggressively redirecting state-level infrastructure and academic spend. In June 2026, Su took the stage at London Tech Week to announce a massive \u00a32 billion ($2.5 billion) five-year investment funding the U.K.&#8217;s flagship national A.I. supercomputers\u2014&#8221;Zenith&#8221; at Cambridge and the fusion-focused &#8220;Sunrise&#8221;\u2014while establishing a strategic collaboration with Imperial College London to optimize A.I. algorithms across health care, climate modeling and data-intensive computational sciences.<br><br>Just days after President Trump&#8217;s visit to China in May, Su traveled to Beijing to meet with Chinese officials and pledge deeper operations and investments in China\u2014despite aggressive U.S. export restrictions. Yet, even as she coordinates multibillion-dollar hardware pipelines across corporate and national borders, Su remains fiercely vocal about the human element behind the machines. Delivering the MIT Commencement Address to the Class of 2026, she urged the graduates to remember that technology itself does not choose the future. &#8220;The world does not just need people who know how to use powerful tools,&#8221; Su said. &#8220;It needs people who know what to use them for. People with a sense of purpose. Judgment. Courage.&#8221;<br><br>The TSMC 2nm-based MI450 launches in late 2026. With Intel&#8217;s Diamond Rapids architecture slipping out to mid-2027, Su commands the only alternative to Nvidia at hyperscale.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Lisa-Su.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tLisa Su.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-center has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"marc-andreessen\">\n\t\t\t\t\n\t\t\t\t\tMarc Andreessen\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#marc-andreessen\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Marc Andreessen' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; General Partner of Andreessen Horowitz<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">On July 9, Fed Chair Kevin Warsh named Marc Andreessen co-lead of a Federal Reserve task force on A.I., productivity and jobs. In 2026, Andreessen&#8217;s firm reached over <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/a16z.com\/about\/\">$100 billion<\/a> in assets under management, cementing its status as the world\u2019s largest venture capital firm. This includes the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/a16z.com\/why-did-we-raise-15b\/\">$15 billion<\/a> in new capital the company raised in 2025, over <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.latimes.com\/business\/story\/2026-01-09\/why-andreessen-horowitzs-massive-funding-round-signals-shift-in-silicon-valleys-priorities\">$3 billion<\/a> of which will flow into a16z\u2019s A.I.-driven applications and infrastructure funds. With new investments in A.I. apps like <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/2026\/06\/03\/towns-ai-assistants-andreessen-horowitz-forerunner-55-million\/\">Town<\/a> and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/a16z.com\/announcement\/investing-in-lassie\/\">Lassie<\/a>, the firm is set to continue riding the A.I. boom.\u00a0<br><br>A16z provided <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nytimes.com\/2026\/05\/13\/technology\/andreessen-horowitz-politics.html\">$115.5<\/a> million in political funding during the 2026 election cycle, including <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-04-15\/andreessen-horowitz-boost-ai-super-pac-cash-to-over-50-million\">$50 million<\/a> to the pro-A.I. Super PAC Leading the Future, which <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.wired.com\/story\/alex-bores-andreessen-horowitz-super-pac-ai-regulation-new-york\/\">funds<\/a> ad campaigns against candidates who promise to regulate A.I. This spring, Andreessen was one of 13 leaders <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.whitehouse.gov\/releases\/2026\/03\/president-trump-announces-appointments-to-presidents-council-of-advisors-on-science-and-technology\/\">appointed to a position<\/a> on President Trump\u2019s Council of Advisors on Science and Technology.<br><br>Andreessen remains a staple within mainstream technology discourse. The a16z Substack reaches <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/substack.com\/@a16z\">250,000<\/a> subscribers, and the firm\u2019s podcast regularly ranks in the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/podcasts.apple.com\/in\/charts?genre=1318\">top 10<\/a> of technology shows. Andreessen has <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/pmarca\">3.5 million<\/a> followers on X, where he <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/pmarca\/status\/2062973745883722107\">promotes<\/a> ideas and voices that push back against growing A.I. skepticism. Recent appearances on <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=PHQvb10vKyk&amp;t\">Joe Rogan<\/a> and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=87Pm0SGTtN8\">Lenny Rachitsky\u2019s<\/a> podcasts have kept him in front of general audiences, opportunities he has used to advance both his investment portfolio and his broader pro-technology worldview.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Marc-Andreessen.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMarc Andreessen.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"andy-jassy\">\n\t\t\t\t\n\t\t\t\t\tAndy Jassy\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#andy-jassy\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Andy Jassy' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>President &amp; CEO, Amazon<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In his <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/04\/09\/amazon-ceo-andy-jassy-ai-spending.html\">April 9 shareholder letter,<\/a> Amazon CEO Andy Jassy wrote: &#8220;We&#8217;re not investing approximately $200 billion in capex in 2026 on a hunch.&#8221; The money is backed by named commitments: OpenAI pledged $100 billion to AWS and 2 gigawatts of Trainium capacity, and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.aboutamazon.com\/news\/company-news\/amazon-invests-additional-5-billion-anthropic-ai\">Anthropic committed another $100 billion<\/a> after Jassy expanded Amazon&#8217;s stake in the company to $13 billion deployed in April, with up to $20 billion more tied to milestones. The custom silicon behind those commitments traces <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.geekwire.com\/2015\/amazon-reportedly-talks-buy-secret-israeli-chip-maker-annapurna-labs-350m\/\">to a $350 million acquisition Jassy made<\/a> in January 2015, when he bought Israeli chip startup Annapurna Labs. Graviton launched from that base in 2018 and now runs on 98 percent of AWS&#8217;s top 1,000 EC2 customers. Trainium3, shipping since early 2026, is <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.aboutamazon.com\/news\/aws\/amazon-ceo-andy-jassy-aws-ai\">30 to 40 percent more price-performant<\/a> than its predecessor and nearly fully subscribed. If the chip business were standalone, Jassy estimates the annual run rate would be $50 billion.<br><br>Then on June 11, the Amazon researchers jailbroke Anthropic&#8217;s Fable 5 to extract cyber-offensive information, and Jassy personally <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/2026\/06\/14\/how-a-warning-from-amazon-led-the-white-house-to-shut-down-anthropics-mythos-model\/\">called Treasury Secretary Scott Bessent.<\/a> Within a day, the Commerce Department invoked export controls and Anthropic, given 90 minutes, pulled Fable 5 and Mythos 5 offline worldwide. It was the first time Washington ordered a commercial A.I. model offline, and the trigger came from the model-maker&#8217;s own largest backer. <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/thehackernews.com\/2026\/07\/anthropic-restores-claude-fable-5-after.html\">The models returned July 1<\/a> after Anthropic shipped a new safety classifier. It was the first time Washington ordered a commercial A.I. model offline, and the call that triggered it came from the model-maker&#8217;s own largest backer. <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.business-standard.com\/companies\/news\/amazon-ceo-andy-jassy-visits-india-amid-quick-commerce-race-126062400581_1.html\">On June 24, during his first India visit since becoming CEO,<\/a> Jassy told a roundtable of executives that A.I. is &#8220;the most transformational technology he has seen in his lifetime.&#8221; He said it one week after he had used that same technology to switch off a competitor&#8217;s product.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/07\/Andy-Jassy.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tAndy Jassy.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"krishna-rao\">\n\t\t\t\t\n\t\t\t\t\tKrishna Rao\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#krishna-rao\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Krishna Rao' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CFO of Anthropic<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Behind Anthropic\u2019s unprecedented valuation surge\u2014from <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/anthropic-raises-series-e-at-usd61-5b-post-money-valuation\">$61.5 billion in March 2025<\/a> to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/series-h\">$965 billion in May<\/a> of this year\u2014is <a href=\"https:\/\/observer.com\/2026\/04\/anthropic-top-executives-after-labs-launch\/\">chief financial officer Krishna Rao<\/a>, who disclosed in May that existing customers <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=wEEZPpx8qow\">spent 5x more on Claude<\/a> than they did a year prior. Under Rao\u2019s financing guidance, Anthropic has added about $96 million in annualized revenue per day, going from <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/google-broadcom-partnership-compute\">$9 billion<\/a> at the end of 2025 to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/series-h\">$47 billion<\/a> by mid-2026. By April, more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/google-broadcom-partnership-compute\">1,000 enterprise accounts<\/a> crossed the $1 million annual spend threshold with Anthropic.<br><br>Rao shifted the company toward a multi-platform <a href=\"https:\/\/observer.com\/2026\/05\/openai-anthropic-cfos-ai-compute\/\">compute strategy<\/a> with chips from Nvidia, Google and Amazon. This included a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/microsoft-nvidia-anthropic-announce-strategic-partnerships\">$30 billion agreement for Microsoft servers<\/a> powered by Nvidia chips, securing up to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/expanding-our-use-of-google-cloud-tpus-and-services\">one million Google Cloud tensor processing units<\/a> for as much as $50 billion and a multi-gigawatt, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/google-broadcom-partnership-compute\">$36 billion compute acquisition<\/a> through Broadcom and <a href=\"https:\/\/observer.com\/2025\/10\/anthropic-google-ai-compute-power-deal\/\">Google extending into 2027<\/a>. Propelled by an API business boasting <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/newsletter.semianalysis.com\/p\/anthropic-3q26-profit-over-1b-the\">more than 80 percent gross margins<\/a>, Anthropic filed confidentially for an IPO, with secondary markets already valuing the company <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businessinsider.com\/anthropic-soared-1-2-trillion-valuation-on-secondary-markets-2026-7\">around $1.2 trillion<\/a>.\u00a0<br><br>Rao participated in a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.cand.465515\/gov.uscourts.cand.465515.6.0.pdf\">court declaration in March<\/a> warning that the Pentagon&#8217;s supply-chain risk designation against Anthropic &#8220;could reduce [the company\u2019s] revenue by multiple billions of dollars.\u201d Anthropic formally challenged the designation with two federal lawsuits that <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.techpolicy.press\/a-timeline-of-the-anthropic-pentagon-dispute\/\">incurred mixed results<\/a>.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/07\/Krishna-Rao.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tKrishna Rao.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Anthropic\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"andrew-feldman\">\n\t\t\t\t\n\t\t\t\t\tAndrew Feldman\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#andrew-feldman\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Andrew Feldman' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Cerebras Systems<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In May, Andrew Feldman\u2019s Cerebras Systems <a href=\"https:\/\/observer.com\/2026\/05\/cerebras-ipo-create-billions-andrew-feldman-ai-chip-investors\/\">went public<\/a> in an IPO that <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cerebras.ai\/press-release\/cerebras-systems-announces-pricing-of-initial-public-offering\">valued the company at more than $55 billion<\/a>. After <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2021728\/000119312525230382\/d886849drw.htm\">withdrawing its initial attempt<\/a> to go public in 2025\u2014following regulatory scrutiny over the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2025\/03\/31\/ai-chipmaker-cerebras-announces-cfius-clearance-a-key-step-toward-ipo.html\">UAE-based A.I. firm G42<\/a>, which accounted for 87 percent of Cerebras\u2019 revenue in early 2024\u2014Feldman, co-founder and CEO of the semiconductor, supercomputer and software development company, expanded Cerebras\u2019 U.S. client base and received regulatory clearance. In January, Feldman signed a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/2021728\/000162828026033143\/cerebras-sx1a2.htm\">$20 billion deal<\/a> with <a href=\"https:\/\/observer.com\/2026\/05\/openai-anthropic-cfos-ai-compute\/\">OpenAI, in part to provide<\/a> the A.I. giant with 750 megawatts of computing capacity through 2028. By March, he entered into a multi-year partnership of undisclosed value with Amazon Web Services.<br><br>&#8220;I don&#8217;t think there are many examples in history where monopoly was good for an ecosystem,&#8221; Feldman tells Observer. Most chips before Cerebras, he explains, &#8220;were the size of a postage stamp. We built a chip the size of a dinner plate\u2014fifty-eight times larger.&#8221; That scale, he says, is what lets Cerebras (a loud competitor of Nvidia) deliver inference speeds Feldman put at<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/english.cw.com.tw\/article\/article.action?id=4792\"> 15 times faster<\/a> than its closest competitor.<br><br>At last week\u2019s RAISE Summit in Paris, Feldman announced a major expansion of Cerebras\u2019 European infrastructure footprint, with plans to bring its first European data center capacity online by the end of this year and to expand total capacity to 200 megawatts by the end of 2027.<br><br>&#8220;Some of the first movers and some of the early actions of data center builders were misguided. They sought to push off some cost on local power utilities&#8230; and they were wasteful in their use of resources, none of which is necessary,&#8221; Feldman tells Observer. Cerebras uses closed-loop water cooling to minimize its footprint. &#8220;We think it&#8217;s reasonable to pay our own way,\u201d Feldman says. \u201cData centers should be profitable without pushing off costs on the local community.&#8221;<br><br>Despite a<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.cerebras.ai\/news-releases\/news-release-details\/cerebras-systems-announces-strong-first-quarter-2026-results\"> 94-percent increase<\/a> in first-quarter revenue year over year, Cerebras announced a plan to mitigate short-term supply bottlenecks: Temporarily<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.fidelity.com\/news\/article\/default\/202606231657RTRSNEWSCOMBINED_KBN3SP2K6-OUSBS_1\"> renting back its own systems<\/a> from an existing client while it builds out more data center capacity in places like the UAE, Australia, Singapore, India and Indonesia.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Andrew-Feldman-9.55.48-PM.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tAndrew Feldman\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Cerebras Systems\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"cristiano-amon\">\n\t\t\t\t\n\t\t\t\t\tCristiano Amon\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#cristiano-amon\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Cristiano Amon' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO &amp; President of Qualcomm<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">As the cornerstone of Qualcomm CEO Cristiano Amon&#8217;s diversification bet, Snapdragon Cockpit and Ride Platforms now<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.qualcomm.com\/news\/releases\/2026\/01\/qualcomm-drives-the-future-of-mobility-with-strong-snapdragon-digital-chassis\"> power more than 75 million vehicles worldwide<\/a>. Automotive revenue crossed $1 billion in a single quarter for the first time in late fiscal 2025,<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/0000804328\/000080432825000084\/qcom092825erex991.htm\"> charting a 36 percent year-over-year surge to $3.96 billion<\/a>. In January, Volkswagen Group<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.volkswagen-group.com\/en\/press-releases\/volkswagen-group-and-qualcomm-sign-letter-of-intent-to-power-next-generation-driving-experiences-20061\"> signed a letter of intent<\/a> making Qualcomm the primary chip supplier for its software-defined vehicle architecture, built through its joint venture with Rivian.<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.stellantis.com\/en\/news\/press-releases\/2026\/may\/stellantis-and-qualcomm-expand-partnership-to-adopt-snapdragon-digital-chassis-driver-assistance-cockpit-and-connectivity-platforms-across-next-generation-vehicle-architectures\"> Stellantis followed in May<\/a>, expanding Snapdragon across ADAS, cockpit and connectivity for its next-generation lineup.\u00a0<br><br>In June, Qualcomm announced its entry into the data center market, with an A.I. infrastructure strategy and fiscal 2029 revenue target of more than $15 billion. At the same event (Qualcomm\u2019s Investor Day), the company announced that it has nearly doubled non-smartphone revenue targets to $40 billion, increased its automotive revenue target to $10 billion by fiscal 2029 and expanded its automotive design-win pipeline to $65 billion. At Investor Day, the company stated it is on track to become the largest pure-play automotive semiconductor supplier globally.<br><br><a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/time.com\/collections\/davos-2026\/7339220\/qualcomm-ceo-cristiano-amon-ai-edge-computing\/\">At Davos in January<\/a>, Amon said, &#8220;Whoever has presence on the edge is going to win. The edge is where the humans are.&#8221; The edge-first strategy found its clearest enterprise proof point at Build 2026, where Microsoft<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.geekwire.com\/2026\/inside-microsofts-project-solara-a-new-platform-for-devices-that-run-ai-agents-instead-of-apps\/\"> unveiled Project Solara<\/a> with Qualcomm silicon powering the wearable badge concept. CVS Health, Best Buy, Target and Levi&#8217;s are already in pilots. Over the past year, Amon has spoken about Qualcomm&#8217;s role in enabling the next wave of A.I. devices, noting that the company is working on more than 40 A.I. devices and partnering with virtually all of the major players developing this new category.<br><br>That OpenAI<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.business-standard.com\/technology\/tech-news\/openai-reportedly-picks-mediatek-over-qualcomm-for-its-maiden-ai-smartphone-126050500730_1.html\"> reportedly bypassed Qualcomm<\/a> in May, pivoting to a customized MediaTek Dimensity 9600 for its A.I.-agent smartphone, appears to have little impact on the future company.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Cristiano-Amon-1.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tCristiano Amon.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Qualcomm\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"larry-ellison\">\n\t\t\t\t\n\t\t\t\t\tLarry Ellison\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#larry-ellison\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Larry Ellison' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CTO of Oracle<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Larry Ellison continues Oracle\u2019s shift in focus from legacy on-premise software to A.I.-focused cloud hosting, with the company\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.oracle.com\/news\/announcement\/q4fy26-earnings-release-2026-06-10\/\">cloud revenue jumping 39 percent<\/a> in fiscal year 2026 to $34 billion, just over half of its $67.4 billion total revenue for the year. Ellison directed the majority of Oracle\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/s23.q4cdn.com\/440135859\/files\/doc_earnings\/2026\/q4\/earnings-result\/4q26-pressrelease-final.pdf\">$55.6 billion capital expenditures<\/a> for the year to building out advanced data centers. <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.axios.com\/2026\/06\/11\/ai-oracle-data-center-earnings\">Critics argue<\/a> Ellison\u2019s efforts to win the A.I. race are unsustainable, but Oracle rests on a $638 billion backlog in A.I. infrastructure contracts (a 363-percent increase from 2025). To support Ellison\u2019s A.I. infrastructure expansion, the company plans to raise $40 billion in debt and equity for fiscal year 2027.<br><br>Ellison is a key backer in the <a href=\"https:\/\/observer.com\/2026\/03\/larry-ellison-fortune-stargate-tiktok-paramount-wbd-merger\/\">Trump administration\u2019s Stargate project<\/a>, a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.whitehouse.gov\/releases\/2026\/03\/trump-effect-a-running-list-of-new-u-s-investment-in-president-trumps-second-term\/\">$500 billion privately funded initiative<\/a> to build massive data centers across the United States using Oracle\u2019s cloud infrastructure. The initiative has so far resulted in projects like the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/arrington.house.gov\/uploadedfiles\/final_oracle_oai_data_center_fact_sheet_092225b.pdf\">Stargate data center in Texas<\/a>, which is built with 450,000 Nvidia GPUs (<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.ft.com\/content\/a9cd130f-f6bf-4750-98cc-19d87394e657\">worth $40 billion<\/a>) and leased to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bizjournals.com\/dallas\/news\/2026\/03\/25\/microsoft-leases-space-stargate-bloomberg.html\">OpenAI and Microsoft<\/a>. Ellison\u2019s network extends further, including a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.wsj.com\/business\/openai-oracle-sign-300-billion-computing-deal-among-biggest-in-history-ff27c8fe\">$300 billion, five-year contract<\/a> with OpenAI in which Oracle Cloud Infrastructure supplies computing power beginning in 2027. On the human front, Ellison participated in an Oracle layoff that shed roughly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/d18rn0p25nwr6d.cloudfront.net\/CIK-0001341439\/0723dfa7-be5f-4227-9da6-eff3cce376a8.pdf\">13 percent of the company\u2019s workforce<\/a>, or 21,000 heads, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/d18rn0p25nwr6d.cloudfront.net\/CIK-0001341439\/7455eba6-bb80-41d3-96b7-12111eae648c.pdf\">over 12 months<\/a> in favor of A.I.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Larry-Ellison.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tLarry Ellison\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"ali-ghodsi\">\n\t\t\t\t\n\t\t\t\t\tAli Ghodsi\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#ali-ghodsi\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Ali Ghodsi' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO, Databricks<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">At the Databricks annual Data + AI Summit in June, CEO Ali Ghodsi announced that the data and A.I. organization expects to achieve an 80-percent increase in annualized revenue run rate\u00a0from the year prior, to $6.9 billion, with a quarter of that ($1.7 billion) coming from dedicated A.I. products.\u00a0<br><br>In February, Ghodsi and Databricks<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/company\/newsroom\/press-releases\/databricks-grows-65-yoy-surpasses-5-4-billion-revenue-run-rate\"> finalized a $7 billion investment<\/a>, including ~$5 billion in equity financing at a $134 billion valuation and $2 billion in additional debt capacity. Ghodsi shared that existing enterprise customers continue to expand their spending by more than 40 percent year over year.<br><br>Under Ghodsi&#8217;s leadership, Databricks recently introduced A.I. innovations, including<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/blog\/introducing-genie-one-genie-ontology-and-genie-agents\"> Genie One<\/a>, an agentic coworker that automates work across teams using business data,<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/company\/newsroom\/press-releases\/databricks-launches-ltap-first-lake-transactionalanalytical\"> LTAP<\/a>, a data processing architecture that unifies analytical and operational data on the lakehouse, and<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/blog\/ai-governance-data-ai-summit-2026-whats-new-unity-ai-gateway\"> Unity AI Gateway<\/a>, which helps teams manage A.I. costs and governance across agents, tools, models and MCPs. Databricks also recently entered the marketing space with<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/company\/newsroom\/press-releases\/databricks-enters-marketing-industry-customerlake-agentic-customer\"> CustomerLake<\/a>, an agentic customer data platform, following its move into security with<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/company\/newsroom\/press-releases\/databricks-enters-security-market-launch-lakewatch-new-agentic-siem\"> Lakewatch<\/a>, a Security Lakehouse built to help organizations defend against sophisticated A.I.-driven attacks.<br><br>Databricks is multi-A.I., combining partnerships with<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/company\/newsroom\/press-releases\/databricks-and-openai-launch-groundbreaking-partnership-bring\"> OpenAI<\/a>,<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/company\/newsroom\/press-releases\/databricks-and-anthropic-sign-landmark-deal-bring-claude-models?itm_source=www&amp;itm_category=partners&amp;itm_page=partners&amp;itm_location=body&amp;itm_component=general-asset-card&amp;itm_offer=databricks-and-anthropic-sign-landmark-deal-bring-claude-models\"> Anthropic<\/a> and<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databricks.com\/company\/newsroom\/press-releases\/databricks-announces-strategic-ai-partnership-google-cloud-bring\"> Google<\/a> alongside support for open source models. The company serves more than 20,000 customers, including 70 percent of the Fortune 500.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Ali-Ghodsi.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tAli Ghodsi.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Databricks\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"sarah-friar\">\n\t\t\t\t\n\t\t\t\t\tSarah Friar\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#sarah-friar\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Sarah Friar' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CFO of OpenAI<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Sarah Friar is financing one of the largest infrastructure projects in the history of artificial intelligence: OpenAI\u2019s planned $600 billion, five-year buildout of data centers and compute capacity. In March, the CFO engineered the largest-ever private fundraising, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-31\/openai-valued-at-852-billion-after-completing-122-billion-round\">raising $122 billion<\/a> for OpenAI, including $80 billion in the first quarter, and secured a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/media-telecom\/softbank-secures-40-billion-loan-fund-further-openai-investment-2026-03-27\/\">$40 billion bridge loan<\/a> through major Wall Street banks to help accelerate the company\u2019s expansion. Friar has described the financing strategy as creating &#8220;maximum optionality,&#8221; allowing OpenAI to continue expanding while preserving access to both private and public capital markets.<br><br>That capital underpins an A.I. platform whose demand continues to accelerate. ChatGPT now serves more than 800 million weekly active users, while OpenAI has surpassed 3 million paying business users. The company projects annual recurring revenue will reach approximately $20 billion by the end of 2026, up from roughly $13 billion earlier this year. That growth has intensified demand for chips, power and data center capacity, making access to financing as critical as advances in model performance. Every financing round Friar closes helps determine how quickly OpenAI can secure the compute infrastructure supporting hundreds of millions of ChatGPT users and millions of enterprise customers.\u00a0<br><br>Despite OpenAI\u2019s scale, spending has only begun. The company generates roughly $2 billion in monthly revenue but expects to invest more than $200 billion before reaching profitability, making continued access to private capital central to its long-term strategy. Friar has <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nytimes.com\/2026\/06\/25\/technology\/openai-ipo-artificial-intelligence.html\">pushed back against speculation about a 2026 IPO<\/a>, arguing that OpenAI still has organizational and financial milestones to reach before entering public markets. Instead, she has pointed to 2027 as a more realistic timeline, emphasizing that private financing remains sufficient to support the company\u2019s expansion.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Sarah-Friar.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tSarah Friar.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"tareq-amin\">\n\t\t\t\t\n\t\t\t\t\tTareq Amin\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#tareq-amin\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Tareq Amin' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Humain<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Tareq Amin is CEO of Humain, the full-stack artificial intelligence company headquartered in Saudi Arabia, launched by the Public Investment Fund (PIF) in May 2025 and chaired by His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud. Widely reported as a planned $100 billion A.I. company, Humain is building A.I. capabilities across data centers, cloud infrastructure, frontier models, platforms and applications. Prior to becoming CEO of Humain, Amin served as Chief Executive Officer of Aramco Digital and has held senior global leadership positions across telecommunications and digital infrastructure.<br><br>Since Humain&#8217;s launch, Amin has led the company&#8217;s rapid expansion through strategic collaborations with leading global technology companies to accelerate A.I. infrastructure and innovation. Publicly announced collaborations include a more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.aboutamazon.com\/news\/company-news\/amazon-aws-humain-ai-investment-in-saudi-arabia\">$5 billion<\/a> A.I. Zone with AWS, a collaboration with AMD to invest <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.amd.com\/en\/newsroom\/press-releases\/2025-5-13-amd-and-humain-form-strategic--10b-collaboration-.html\">up to $10 billion<\/a> in A.I. infrastructure, and an agreement with Nvidia to deploy <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/nvidianews.nvidia.com\/news\/humain-and-nvidia-announce-strategic-partnership-to-build-ai-factories-of-the-future-in-saudi-arabia\">hundreds of thousands of GPUs<\/a> in Saudi Arabia, beginning with an initial deployment of 18,000 Nvidia Blackwell GPUs. Humain has also announced collaborations with global A.I. leaders, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudis-humain-invested-3-billion-xais-series-e-funding-round-2026-02-18\/\">including xAI<\/a>, Qualcomm, Groq, Cohere and others, as it builds A.I. capabilities across infrastructure, models and enterprise solutions.<br><br>In previous speaking engagements, Amin emphasized that the success of A.I. depends not only on technology but on execution, noting that many generative A.I. initiatives fail because organizations underestimate the operational transformation required. Under his leadership, Humain has focused on building an integrated A.I. ecosystem by combining infrastructure, strategic partnerships and advanced A.I. technologies to support customers in Saudi Arabia and around the world.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Tareq-Amin.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tTareq Amin.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Humain\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"jonathan-ross\">\n\t\t\t\t\n\t\t\t\t\tJonathan Ross\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#jonathan-ross\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Jonathan Ross' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder of Groq and Chief Software Architect of Nvidia<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In December, Nvidia signed a non-exclusive licensing agreement for Groq\u2019s technology, hiring Groq founder Jonathan Ross and about 90 percent of the company\u2019s employees. The $20 billion \u201cacqui-hire\u201d is the largest deal in Nvidia\u2019s history. Ross is reported to have taken home <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/sites\/phoebeliu\/2026\/03\/18\/groq-cofounder-ross-explains-whirlwind-ai-chip-deal-with-nvidia\/\">close to $950 million in cash after tax, <\/a>based on an estimated 9 percent stake, with more in Nvidia stock still vesting.<br><br>In March, three months into Ross\u2019 new role as chief software architect, Nvidia unveiled the Groq 3 LPX, an inference processor that&#8217;s up to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/developer.nvidia.com\/blog\/inside-nvidia-groq-3-lpx-the-low-latency-inference-accelerator-for-the-nvidia-vera-rubin-platform\/\">35 times faster<\/a> with 10x more revenue opportunity than prior designs. &#8220;This is not a pilot,&#8221; <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"http:\/\/youtube.com\/watch?v=hwY4bfZN8E8&amp;t=2\">Ross said in July<\/a> about Nvidia&#8217;s large-scale manufacturing of Groq\u2019s licensed tech.<br><br>Although Ross has been outspoken about <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businessinsider.com\/groq-founder-jonathan-ross-leadership-mistakes-nvidia-delegation-hiring-2026-7\">his perceived leadership mistakes<\/a>, it is a testament to the foundation he built that Groq continues to thrive without him. Under CEO Adam Winter, the company raised a fresh $650 million in June, led by Disruptive and Infinitum, brought in new executive leadership, and kept GroqCloud running for its more than 2 million registered developers and customers\u2014including Saudi Arabia&#8217;s Humain, which committed $1.5 billion.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Jonathan-Ross.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tJonathan Ross.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Groq\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"alexandr-wang\">\n\t\t\t\t\n\t\t\t\t\tAlexandr Wang\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#alexandr-wang\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Alexandr Wang' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Chief A.I. Officer of Meta<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">This summer marks the one-year anniversary of Alexandr Wang\u2019s arrival at Meta as its first chief A.I. officer, where he now leads Meta Superintelligence Labs. This spring, the lab released Muse Spark, Meta\u2019s first proprietary foundation model, to mixed reviews. Muse Spark performed competitively on some benchmarks, but it still lagged OpenAI\u2019s GPT-5.4 Pro and Google\u2019s Gemini 3.1 Pro, raising questions about whether Meta has fallen behind in the frontier-model race. At a Bloomberg event in June, Wang called Muse Spark \u201can appetizer\u201d and acknowledged that it was not yet on par with the leading models. He said Meta\u2019s next releases would close that gap. In July, the company followed with Muse Image, its first image-generation model from Meta Superintelligence Labs, rolling it out through Meta AI and into creative features on Instagram and WhatsApp.<br><br>Wang is steering Meta\u2019s shift away from open-source toward a more closed, frontier strategy. Unlike Meta\u2019s Llama models, Muse Spark was initially deployed only within Meta\u2019s own products, but Meta later opened an upgraded version, Muse Spark 1.1, to U.S. developers through a paid public-preview API in July. Its core strength lies in multimodal performance across text, images, video and audio, along with support for complex tasks in health applications and creative coding, Wang said. Those capabilities are underpinning Meta\u2019s broader effort to build A.I. agents.<br><br>Wang said his team is now focused on scaling data, computing power and research to drive better models. That ambition is backed by Meta\u2019s $125 billion to $145 billion capital spending plan for 2026 and by the company\u2019s continued reassignment of engineers toward A.I. tooling and core model work. In July, Meta expanded its Hyperion data center in Louisiana to five gigawatts of planned computing capacity, increasing its investment in the project to more than $50 billion. <\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Alexandr-Wang.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tAlexandr Wang.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Meta\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"brad-gerstner\">\n\t\t\t\t\n\t\t\t\t\tBrad Gerstner\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#brad-gerstner\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Brad Gerstner' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of Altimeter Capital<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In May 2026, the tectonic plates of Silicon Valley shifted. Anthropic <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nytimes.com\/2026\/05\/28\/technology\/anthropic-tops-openai-valuation.html\">surpassed<\/a> OpenAI to briefly become the world\u2019s most valuable private company, securing a staggering <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/series-h\">$965 billion post-money valuation<\/a> following a monumental $65 billion Series H round, led by Brad Gerstner and his team at Altimeter Capital. Gerstner\u2019s leading role in the Series H isn\u2019t an isolated tech bet, but rather a calculated piece of a multi-layered hedge to corner the market on frontier A.I. infrastructure. Long before backing Anthropic, Altimeter participated in OpenAI\u2019s pivotal $6.6 billion round in October 2024 at a $157 billion valuation, and doubled down by joining OpenAI&#8217;s $122 billion mega-round in March 2026 ($852 billion valuation). By anchoring Anthropic&#8217;s Series H just months later, Gerstner effectively built a fortress position across both market leaders.<br><br>Altimeter has held core positions in data cloud giants <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/aum13f.com\/firm\/altimeter-capital-management-lp\">Snowflake<\/a> (since its <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2015\/06\/23\/snowflake-raises-45m-series-c-round-for-its-data-warehousing-service-comes-out-of-beta\/\">2015 Series C<\/a>) and Databricks, and in late 2022, while the broader market retreated, Gerstner <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.tradingview.com\/news\/benzinga:d1410cf54094b:0-brad-gerstner-bought-nvidia-stock-when-everybody-said-sell-now-he-s-buying-apple-stock-at-all-time-highs\/\">aggressively piled capital<\/a> into Nvidia, catching the absolute genesis of the A.I. hardware supercycle. By anchoring Anthropic\u2019s $65B round\u2014which notably unlocked a massive $25 billion multi-year AWS infrastructure commitment from Amazon, Gerstner helped provide the computing runway necessary for Anthropic&#8217;s June 2026 IPO filing.<br><br>Through his widely streamed <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bg2pod.com\/\"><em>BG2<\/em><\/a><em> Podcast<\/em> (co-hosted with tech veteran Bill Gurley) and regular market-moving appearances on <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/video\/2026\/05\/14\/the-tech-takeoff-altimeters-brad-gerstner-on-nvidia-the-cerebras-ipo-and-the-future-of-ai.html\">CNBC<\/a> and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2025-06-05\/altimeter-s-gerstner-on-the-ai-arms-race-and-investment-video\">Bloomberg<\/a>, Gerstner has positioned himself as a leading <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=HRYysSAv-Ro\">public evangelist<\/a> translating complex private capital formation cycles for everyday investors. More importantly, he is actively trying to turn A.I.-driven market gains into a public safety net. As the driving force and co-architect behind the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.whitehouse.gov\/releases\/2025\/06\/trump-accounts-will-chart-path-to-prosperity-for-a-generation-of-american-kids\/\">Invest America Act<\/a>, Gerstner successfully socialized federal legislation establishing a $1,000 tax-advantaged investment seed fund for every American child born between 2025 and 2028.<br><br>Gerstner is actively directing where A.I. capital lands, dominating both the private funding tables of frontier A.I. and pushing for systemic economic policy in Washington.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Brad-Gerstner-1.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Altimeter Capital\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"robert-f-smith\">\n\t\t\t\t\n\t\t\t\t\tRobert F. Smith\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#robert-f-smith\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Robert F. Smith' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder, Chairman &amp; CEO of Vista Equity Partners<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Robert F. Smith oversees more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/profile\/robert-f-smith\/\">$100 billion in assets<\/a> at Vista Equity Partners, one of the world&#8217;s largest software-focused private equity firms, as enterprise software companies race to embed A.I. across their products. Vista&#8217;s portfolio spans more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.vistaequitypartners.com\/faqs\/\">90 software companies<\/a>, serving over<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.vistaequitypartners.com\/about\/companies\/\"> 450 million users<\/a>. Rather than backing frontier model developers, Smith has poured capital into the enterprise software layer, where businesses deploy A.I. across finance, healthcare, cybersecurity, human resources and customer operations.\u00a0<br><br>In June, Vista and Cambium Capital launched Vector Core Compute, an enterprise A.I. inference cloud backed by a $3.5 billion compute commitment to SambaNova. Vista secured early access to the infrastructure for its portfolio companies, giving them additional computing capacity to deploy A.I. agents at scale. Across its portfolio, Vista has pushed software companies to incorporate<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.vistaequitypartners.com\/insights\/agentic-ai-factory\/\"> <\/a>generative A.I., including <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.vistaequitypartners.com\/insights\/agentic-ai-factory\/\">A.I. agents<\/a>, into products, internal workflows and customer-facing tools.<br><br>Smith argues that <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.vistaequitypartners.com\/insights\/robert-f-smith-vistas-2026-outlook-agentic-ai\/\">the next wave of A.I. value<\/a> will come from enterprise software companies that embed intelligence into existing workflows. In July, Vista Credit Partners backed a $100 million financing for Cover Genius at a $1.9 billion valuation, supporting the company\u2019s development of agentic insurance distribution and automated claims tools.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Robert-F.-Smith.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tRobert F. Smith.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"shawn-edwards\">\n\t\t\t\t\n\t\t\t\t\tShawn Edwards\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#shawn-edwards\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Shawn Edwards' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CTO of Bloomberg<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Within two months of launching ASKB in February, Bloomberg CTO Shawn Edwards and team had put the system in front of roughly 125,000 investors, analysts and bankers, about one-third of the Bloomberg Terminal\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.wired.com\/story\/the-bloomberg-terminal-is-getting-an-ai-makeover-like-it-or-not\/\">375,000 users<\/a>. Bloomberg does not separately report A.I. revenue, but the tools sit within the product that accounts for most of the private company\u2019s estimated <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/companies\/bloomberg\/\">$14.9 billion in annual revenue<\/a>.<br><br>ASKB capped a year of releases under Edwards. Bloomberg launched <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-launches-gen-ai-summarization-for-news-content\/\">A.I.-Powered News Summaries<\/a> in January 2025, followed in April by <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-accelerates-financial-analysis-with-gen-ai-document-insights\/\">Document Insights<\/a>, initially covering more than 200 million company documents. Its June expansion doubled the searchable library to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/press-announcement\/investors-to-streamline-alphagenerating-research-with-bloombergs-latest-ai-offering\/\">more than 400 million documents<\/a>. In September, Bloomberg added <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-advances-portfolio-analytics-with-launch-of-ai-portfolio-commentary-in-port-enterprise\/\">A.I. Portfolio Commentary<\/a> to PORT Enterprise, a risk-and-return platform used by more than 750 institutional clients.<br><br>ASKB now searches hundreds of millions of filings and transcripts, approximately 5,000 original Bloomberg News stories and 1.1 million curated news items each day, plus research from more than 1,200 providers. On average, Bloomberg\u2019s underlying infrastructure processes around 450 billion pieces of financial information daily. Edwards\u2019 <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/professional\/insights\/press-announcement\/bloomberg-unveils-askb-roadmap-for-clients-to-augment-their-investment-process-with-agentic-ai\/\">2026 roadmap<\/a> connects those agents directly to portfolio positions, active bets, proprietary financial models and internal research through PORT and RMS Enterprise. Clients can also add <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/glg.com\/about\/news\/glg-provides-expert-insights-on-bloombergs-askb\">GLG<\/a> and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.thirdbridge.com\/en-us\/about-us\/media\/news\/third-bridge-expert-insights-on-bloomberg-askb\">Third Bridge<\/a>\u2019s library of more than 100,000 expert interviews, as well as near-real-time credit card, web traffic and foot traffic data.<br><br>Edwards says agents reduced the time required to ingest a new dataset from 4.5 months to 2 days, allowing teams previously assigned to data entry and cleaning to move into model evaluation.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__cta__wrapper\" data-purpose=\"cta\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/observer.com\/2026\/07\/bloomberg-cto-shawn-edwards-on-building-ai-that-cant-bluff-interview\/\" data-purpose=\"cta\" class=\"wp-block-observer-listicle__cta\" target=\"_blank\"  rel=\"noopener\">\n\t\t\t\t\t\tRead our interview with Shawn Edwards\t\t\t\t\t<\/a>\n\t\t\t\t<\/p>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Shawn-Edwards.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tShawn Edwards.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Bloomberg\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"brett-adcock\">\n\t\t\t\t\n\t\t\t\t\tBrett Adcock\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#brett-adcock\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Brett Adcock' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO, Figure AI<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Last year, Figure AI CEO Brett Adcock launched a new hardware and software startup called Hark. In May, poised to deliver \u201cpersonal intelligence\u201d solutions with A.I.-native hardware, multimodal models and agentic systems, the company <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20260521171628\/en\/Hark-Raises-%24700M-Series-A-at-a-%246B-Valuation\">raised $700 million<\/a> in a Series A funding round that valued it at $6 billion. <a href=\"https:\/\/observer.com\/2026\/03\/bret-adcock-hark-personal-ai\/\">Adcock himself put $100 million<\/a> into the round alongside major chipmakers Nvidia, AMD and Intel.<br><br>Adcock has not yet publicized a product or consumer pricing for Hark, but said it\u2019ll begin releasing the first models this summer, with purpose-built hardware to follow. He <a href=\"https:\/\/observer.com\/2026\/03\/bret-adcock-hark-personal-ai\/\">recruited from major tech competitors<\/a> Apple, Tesla, Google, Meta and Amazon to build his engineering team.<br><br>Meanwhile, Adcock\u2019s Figure AI has continued deploying humanoid robots in factory settings, most recently at a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/aimagazine.com\/news\/bmw-boosting-factory-logistics-using-ai-humanoid-robots\">BMW plant in South Carolina<\/a>. Its <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.figure.ai\/news\/production-at-bmw\">Figure 02 robots worked 10-hour shifts<\/a> and helped assemble more than 30,000 vehicles. A <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.figure.ai\/news\/series-c\">$1 billion funding round<\/a> in September brought Figure to a valuation of $39 billion, a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/figure-raises-675m-at-2-6b-valuation-and-signs-collaboration-agreement-with-openai-302074897.html\">15-times valuation increase<\/a> over roughly 18 months with just <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.crunchbase.com\/organization\/figure-b5dc#financials\">$1.9 billion in total funding<\/a>.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Brett-Adcock.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tBrett Adcock.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Figure AI\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"hemant-taneja\">\n\t\t\t\t\n\t\t\t\t\tHemant Taneja\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#hemant-taneja\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Hemant Taneja' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO &amp; Managing Director of General Catalyst<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Venture capital firm General Catalyst CEO Hemant Taneja <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/htaneja\/status\/2060082243566022870\">announced in May<\/a> that the firm had quadrupled its investment in Anthropic, marking the firm\u2019s largest single investment in history. GC\u2019s cumulative investments into Anthropic have not been publicly disclosed, but the A.I. giant has gone from a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/anthropic-raises-series-e-at-usd61-5b-post-money-valuation\">$61.5 billion valuation<\/a> in March 2025 (when Taneja\u2019s firm first invested) to a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.anthropic.com\/news\/series-h\">$965 billion valuation<\/a> in May 2026, with GC involved in every round during that time.<br><br>Taneja has also spearheaded what he calls an \u201c<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.generalcatalyst.com\/stories\/the-future-of-services\">AI-enabled roll-up<\/a>,\u201d or a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/podcasts.apple.com\/cm\/podcast\/inside-general-catalysts-%241-5b-ai-roll-up-machine\/id1738124704?i=1000739856458\">$1.5 billion overall investment<\/a> in acquiring legacy service businesses, incubating applied A.I. and combining them for growth. Under Taneja\u2019s roll-up strategy, GC has expanded its presence in Europe. In early 2026, it led a $43 million equity investment in UK-based lettings &amp; property management platform Dwelly, with a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/ca.investing.com\/news\/stock-market-news\/dwelly-in-talks-to-raise-200-million-for-ai-property-management--bloomberg-93CH-4661989\">$200 million equity and debt financing<\/a> round on the horizon.<br><br>Outside of GC\u2019s roll-up strategy, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.generalcatalyst.com\/team\/hemant-taneja\">Taneja has invested<\/a> in Gusto, Polymarket, Ro, Stripe and more. In January, <a href=\"https:\/\/observer.com\/2026\/01\/germanys-ai-startup-parloa-hit-3b-valuation\/\">Parloa, a Berlin-based A.I. agent firm<\/a> for enterprises, secured a $350 million Series D round led by GC; Taneja joined Parloa\u2019s supervisory board as part of the deal. In July, General Catalyst participated in Helsing\u2019s $1.8 billion financing at an $18 billion valuation, extending a defense A.I. investment the firm has backed since 2023. It also joined Chai Discovery\u2019s $400 million Series C, expanding Taneja\u2019s A.I. portfolio into computational drug design. Taneja also serves as chairman of nonprofit Responsible Innovation Labs, which helps startups build on a foundation of responsible innovation.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Hemant-Taneja.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tHemant Taneja.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of General Catalyst Partners\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"andrej-karpathy\">\n\t\t\t\t\n\t\t\t\t\tAndrej Karpathy\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#andrej-karpathy\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Andrej Karpathy' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Pre-Training for Anthropic<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Andrej Karpathy was already a star in A.I. long before becoming a YouTube sensation. Elon Musk lauded Karpathy as one of the world&#8217;s leading experts in deep learning and computer vision when tapping him to lead Tesla\u2019s Autopilot division in 2017. Karpathy was also one of the 11 original founders of OpenAI in 2015. More recently, he coined \u201cvibe coding,\u201d a term now widely used to describe A.I.-assisted software development; Collins Dictionary named it its<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.collinsdictionary.com\/woty\"> Word of the Year<\/a> in 2025.<br><br>Karpathy studied A.I. under leading academics such as <a href=\"https:\/\/observer.com\/person\/geoffrey-hinton\/\">Geoffrey Hinton<\/a> and <a href=\"https:\/\/observer.com\/person\/fei-fei-li\/\">Fei-Fei Li<\/a> and contributed to the development of OpenAI\u2019s early GPT models before leaving in 2017 for Tesla. After a brief return to OpenAI in 2022, he departed again in 2024 to launch Eureka Labs, a startup building A.I.-powered learning experiences.<br><br>He returned to A.I. research and development this May,<a href=\"https:\/\/observer.com\/2026\/05\/andrej-karpathy-joins-anthropic\/\"> joining Anthropic\u2019s pre-training team<\/a> weeks before the company confidentially filed to go public. \u201cI think the next few years at the frontier of LLMs will be especially formative,\u201d he wrote on X at the time. \u201cI am very excited to join the team here and get back to R&amp;D.\u201d<br><br>Karpathy has a longstanding passion for education and a rare ability to translate complex technical concepts for broad audiences. His YouTube channel, focused on educational content, has amassed more than 1.5 million subscribers, while his X account has 2.9 million followers.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/07\/Andrej-Karpathy.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tAndrej Karpathy.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"thomas-kurian\">\n\t\t\t\t\n\t\t\t\t\tThomas Kurian\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#thomas-kurian\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Thomas Kurian' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Google Cloud<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Under the leadership of Thomas Kurian, Google Cloud has aggressively positioned itself as a full-stack provider for A.I. cloud and computing services, earning the organization a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blog.google\/company-news\/inside-google\/message-ceo\/alphabet-earnings-q1-2026\/#introduction\">63-percent year-over-year revenue surge<\/a> to $20 billion in the first quarter of 2026. Kurian set in motion a $$460 billion backlog, nearly doubled quarter over quarter, with <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2025\/09\/09\/google-cloud-chief-details-how-tech-company-is-monetizing-ai.html\">half of that<\/a> poised to convert to revenue within two years, the chief executive said. Kurian is at the forefront of an organization responsible for the majority of Google parent company Alphabet\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blog.google\/alphabet\/investor-presentation-june-2026\/\">$190 billion in projected 2026 expenses<\/a>, with most of that going towards building out data center capacity, A.I. servers and high-speed networking. Corroborating this point is <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/s206.q4cdn.com\/479360582\/files\/doc_news\/2026\/Jun\/01\/attachments\/2026-June-Alphabet-Equity-Capital-Raise-Press-Release-PDF.pdf\">Alphabet\u2019s June announcement<\/a> that it plans to raise $80 billion in stock sales to fund the A.I. buildout.<br><br>At Google Cloud\u2019s annual conference in April, Kurian announced the organization&#8217;s $750 million <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=11PBno-cJ1g\">agentic A.I. investment<\/a> across the business. At the same time, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.merck.com\/news\/merck-and-google-cloud-partner-to-accelerate-agentic-ai-enterprise-transformation\/\">Merck partnered with Google Cloud<\/a> to accelerate agentic A.I. transformation in a deal worth up to $1 billion. In early 2026, Kurian and the team at Google finalized a $32 billion acquisition of cloud security giant Wiz, with the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cloud.google.com\/blog\/products\/identity-security\/google-completes-acquisition-of-wiz\">Wiz team joining Google Cloud<\/a> as part of the transaction.\u00a0<br><br>Kurian announced in October a $15 billion investment over five years to build an <a href=\"https:\/\/observer.com\/2025\/10\/google-15b-india-data-center-hub\/\">A.I. data center hub in India<\/a>\u2014marking Google&#8217;s largest single investment outside of the U.S. Google Cloud is \u201cworking alongside the Indian government and industry leaders to realize the vision of a truly AI-first nation,\u201d Kurian <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blog.google\/intl\/en-in\/company-news\/our-first-ai-hub-in-india-powered-by-a-15-billion-investment\/\">said in a blog post<\/a>.\u00a0 In August 2025, Kurian secured a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/meta-signs-over-10-billion-cloud-deal-with-google-source-says-2025-08-21\/\">$10 billion contract with Meta<\/a> to provide cloud infrastructure over six years.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Thomas-Kurian.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tThomas Kurian.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Google\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"matthew-prince\">\n\t\t\t\t\n\t\t\t\t\tMatthew Prince\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#matthew-prince\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Matthew Prince' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Cloudflare<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Cloudflare&#8217;s Q1 2026 revenue reached $639.8 million, up 34 percent year-over-year\u2014the fastest growth rate in six quarters. The acceleration is concentrated in enterprise spend; Cloudflare added as many customers spending over $5 million annually in one quarter as it added in all of 2025. Customers paying more than $100,000 a year grew 25 percent year over year and now account for 72 percent of revenue, up from 69 percent a year prior. Deals over $1 million grew 73 percent year-over-year, the fastest pace since 2024.<br><br>Traffic data explains the spend. Hundreds of billions of agentic requests now pass through Cloudflare&#8217;s network monthly, marking a more than 1,700 percent increase in daily agentic requests on its network in a single year. By June of this year, Cloudflare\u2019s own data showed bot-driven traffic had officially surpassed human traffic, reportedly generating 57 percent of all web requests\u00a0<br><br>Cloudflare is converting that position into building the foundation for the agentic Internet: Workers AI for edge inference, AI Gateway for governing enterprise A.I. API spend, MCP hosting for agent-to-tool authentication. It holds $4.2 billion in cash to fund the buildout. More than 5.5 million developers build on Workers, a million added in Q1 alone. In July, Cloudflare made Precursor generally available, extending its A.I. strategy to continuous behavioral detection that distinguishes human users from sophisticated automated agents across an entire website session. The company has not disclosed revenue or customer figures for Precursor.<br><br>\u00a0&#8220;If agents are the new users of the web,&#8221; Prince told analysts in February, &#8220;Cloudflare is the platform they run on and the network they pass through.&#8221;<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Matthew-Prince.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMatthew Prince.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Cloudflare\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-center has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"marco-argenti\">\n\t\t\t\t\n\t\t\t\t\tMarco Argenti\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#marco-argenti\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Marco Argenti' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CIO of Goldman Sachs<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">As Chief Information Officer at Goldman Sachs, Marco Argenti leads broad technology strategy at a firm that, on yesterday\u2019s earnings call, announced it has surpassed <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.goldmansachs.com\/investor-relations\/financials\/current\/annual-reports\/2025-annual-report\">$4 trillion in assets<\/a>. Argenti is an early A.I. adopter: In February, he announced an <a href=\"https:\/\/observer.com\/2026\/02\/goldman-sachs-marco-argenti-anthropic-collab\/\">integration with Anthropic<\/a> to launch what he called \u201cdigital coworkers,\u201d automating tasks like trade and transaction accounting and client vetting and onboarding.<br><br>In mid-2025, Argenti made Goldman the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.goldmansachs.com\/pdfs\/insights\/goldman-sachs-talks\/russell-kaplan\/transcript.pdf\">first major bank to deploy Devin<\/a>, Cognition Labs&#8217; autonomous coding agent. At the same time, he <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.americanbanker.com\/news\/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance\">launched an A.I. assistant<\/a> across the organization of nearly 50,000 people. In May, Argenti shared his <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/2026\/05\/08\/goldman-sachs-cio-marco-argenti-tech-ai-future-of-work-employees\/\">strategy for assessing A.I. productivity<\/a> among employees\u2014not tokenmaxxing, but how quickly they move from idea to execution. As a result, Goldman Sachs has seen up to 20 percent efficiency gains across its 12,000-plus developer population and has been introducing additional business-specific A.I.-powered tools across its leading Global Banking &amp; Markets and Asset &amp; Wealth Management franchises.<br><br>Argenti is responsible for bringing high-value talent to Goldman, including recent partner hires like <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.goldmansachs.com\/pressroom\/press-releases\/2025\/daniel-marcu-joins-gs-as-partner-and-global-head-of-ai-engineering-and-science\">Daniel Marcu<\/a>, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.goldmansachs.com\/pressroom\/press-releases\/2026\/archana-vemulapalli-joins-goldman-sachs-as-partner-and-head-of-ai-product-management\">Archana Vemulapalli<\/a> and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.goldmansachs.com\/pressroom\/press-releases\/2026\/evan-kotsovinos-joins-goldman-sachs-as-partner-and-head-of-asset-and-wealth-management-engineering\">Evan Kotsovinos<\/a>.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Marco-Argenti.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMarco Argenti.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Goldman Sachs\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"john-jumper\">\n\t\t\t\t\n\t\t\t\t\tJohn Jumper\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#john-jumper\"\n\t\t\t\t\t\taria-label=\"Copy link to 'John Jumper' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>? (&#8230;!) for Anthropic<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">John Jumper led the development of Google DeepMind\u2019s AlphaFold, the A.I. system that has predicted more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/deepmind.google\/science\/alphafold\/\">200 million protein structures<\/a> and earned him the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nobelprize.org\/prizes\/chemistry\/2024\/press-release\/\">2024 Nobel Prize in Chemistry<\/a> alongside Demis Hassabis. AlphaFold&#8217;s database has been used by more than 3<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/deepmind.google\/science\/alphafold\/\"> million researchers<\/a> across more than 190 countries to support their research, making it one of the most widely adopted A.I. resources in scientific research.<br>AlphaFold 3, which Jumper helped develop, laid part of the technological foundation for tIsomorphic Labs&#8217; drug discovery work. The company has signed research partnerships with Eli Lilly and Novartis that could be worth up to nearly $3 billion in payments.<br><br>Jumper joined Google DeepMind as a research scientist in <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.linkedin.com\/in\/john-jumper-2ab9429b\/\">2017<\/a> after completing his Ph.D. in theoretical chemistry at the University of Chicago.\u00a0 In June 2026, after nearly 9 years helping to develop AlphaFold, Jumper announced he was <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/technology\/us-scientist-john-jumper-leave-google-deepmind-anthropic-2026-06-19\/\">leaving Google DeepMind <\/a>to join Anthropic. In response to Jumper\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/demishassabis\/status\/2068002732250640603\">announcement on X<\/a>, Google DeepMind CEO Demis Hassabis wrote that their work on AlphaFold \u201cchanged the world\u201d and \u201cshowed the field what was possible with AI for science and medicine.\u201d Neither Jumper nor Anthropic has disclosed Jumper&#8217;s new role.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/07\/John-Jumper.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tJohn Jumper.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"harry-sideris\">\n\t\t\t\t\n\t\t\t\t\tHarry Sideris\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#harry-sideris\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Harry Sideris' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Duke Energy<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Harry Sideris expanded Duke Energy&#8217;s five-year capital plan to<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.utilitydive.com\/news\/103-billion-duke-claims-largest-spending-plan-of-any-regulated-us-utility\/812047\/\"> $103 billion<\/a>, claiming it&#8217;s the largest investment program of any regulated U.S. utility as A.I. data centers boosted electricity demand across the South.<br><br>Announced in February 2026, the plan increased Duke&#8217;s capital spending by $16 billion. It includes investments to add roughly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/proxy.duke-energy.com\/\">14 gigawatts <\/a>of new power generation and storage capacity while expanding transmission, modernizing the grid and advancing plans for nuclear power, including small modular reactors. At the time, Duke had executed data center agreements totaling<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/energy\/duke-energy-forecasts-higher-2026-profit-strong-power-demand-2026-02-10\/\"> 4.5 gigawatts<\/a>, with another 9 gigawatts in its late-stage pipeline.<br><br>By May 2026, Duke disclosed it had signed approximately <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.utilitydive.com\/news\/duke-energy-earnings-anderson-gas-plant\/819428\/\">7.6 gigawatts <\/a>of executed Electric Service Agreements with data center customers. That includes 2.7 gigawatts added since the previous quarter, with another approximately 7.8 gigawatts remaining in its high-confidence, late-stage pipeline. The growth has also intensified scrutiny over who pays for the infrastructure required to serve hyperscale computing.\u00a0<br><br>During Duke\u2019s<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/company\/duke-energy\/earnings\/q4-2025\/\"> Q4 2025 earnings call<\/a>, Sideris said affordability was &#8220;definitely on everybody&#8217;s mind,&#8221; pointing to customized data center contracts, federal tax credits and other cost-control mechanisms to protect existing customers from subsidizing A.I. demand.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Duke-Energy.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"john-furner\">\n\t\t\t\t\n\t\t\t\t\tJohn Furner\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#john-furner\"\n\t\t\t\t\t\taria-label=\"Copy link to 'John Furner' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Walmart<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">John Furner is overseeing A.I. deployment across the world\u2019s largest retailer, a business with $713 billion in annual revenue, 280 million weekly customers and 10,900 stores across 19 countries. Within months of his appointment as CEO in February, Furner reorganized the company\u2019s product, design and A.I. organizations\u2014previously split across Walmart U.S., Walmart International and Sam\u2019s Club\u2014into a single global structure designed to build A.I. products once and roll them out across the company\u2019s global operations. At Walmart\u2019s scale, changes to a single A.I. system can influence how millions of customers shop and how thousands of stores, fulfillment centers and employees operate.<br><br>Furner has backed that strategy with new infrastructure investments. In January, Walmart committed $520 million to Symbotic\u2014$230 million paid upfront, with the remainder contingent on performance milestones\u2014to build 400 Accelerated Pickup and Delivery centers powered by autonomous robotics. Fewer than half of Walmart\u2019s U.S. stores currently receive inventory from automated distribution centers. The expansion moves Walmart toward 65 percent automation coverage under a 12-year exclusive agreement, building on earlier Symbotic deployments that reduced U.S. delivery costs by 40 percent.\u00a0<br><br>Those investments are already transforming the customer experience. On Walmart\u2019s fiscal 2027 first-quarter earnings call, Furner reported results that put Sparky\u2014the A.I. shopping agent developed through Walmart\u2019s OpenAI partnership\u2014at the center of the company\u2019s growth story. By the end of fiscal 2026, half of Walmart app users had already tried Sparky. In the following quarter, purchases completed directly through Sparky increased more than fourfold, while weekly active users more than doubled. Customers using Sparky spend 35 percent more per order than those who do not, and Furner credited Sparky and related A.I. investments with helping drive 26 percent U.S. e-commerce growth during the quarter.\u00a0<br><br>\u201cOur investments in A.I. have increased Sparky intelligence and response quality by 40 percent this year,\u201d Furner told analysts, signaling that Walmart now views A.I. as a driver of customer engagement, logistics performance and revenue growth.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/John-Furner.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tJohn Furner.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"peter-thiel\">\n\t\t\t\t\n\t\t\t\t\tPeter Thiel\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#peter-thiel\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Peter Thiel' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; General Partner of Founders Fund, Chairman of Palantir Technologies<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Peter Thiel&#8217;s Founders Fund raised a $6 billion growth fund after deploying its previous $4.6 billion fund into a robust portfolio of frontier A.I. and defense companies. The new fund came after June 2025, when the Founders Fund made its largest investment to date, committing <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2025\/06\/05\/anduril-raises-2-5b-at-30-5b-valuation-led-by-founders-fund\/\">$1 billion <\/a>to Anduril&#8217;s $2.5 billion financing at a $30.5 billion valuation. In May 2026, the defense tech company raised another<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/05\/13\/anduril-raises-5b-doubles-valuation-to-61b\/\"> $5 billion <\/a>at a $61 billion valuation, more than doubling its valuation in less than a year.<br><br>In February 2026, Founders Fund made its first direct investment in Anthropic, co-leading the company&#8217;s $30 billion Series G funding round alongside D. E. Shaw Ventures, Dragoneer, ICONIQ and MGX at a $380 billion post-money valuation. The investment gave Founders Fund significant positions in both Anthropic and OpenAI while expanding its portfolio, which already includes SpaceX, Stripe and Palantir.<br><br>As chairman and co-founder of Palantir, Thiel helped build one of the first software companies to commercialize A.I. for government and defense. In May 2026, Palantir reported $1.63 billion in quarterly revenue, up 85 percent year over year.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Peter-Thiel.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tPeter Thiel.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"larry-fink\">\n\t\t\t\t\n\t\t\t\t\tLarry Fink\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#larry-fink\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Larry Fink' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of BlackRock<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">When the CEO of the world&#8217;s largest asset manager decides A.I. infrastructure is not a speculative bubble, the implication is that the capital sitting in millions of pension funds, 401ks and sovereign wealth mandates has a direction. At Davos in January 2026, BlackRock chief Larry Fink, who manages $13.9 trillion in assets, made his argument explicit. &#8220;I sincerely believe there is no bubble in the A.I. space,&#8221; he said. &#8220;Hundreds of billions of dollars is needed to build this out. The CapEx is going to drive more global growth.&#8221;<br><br>BlackRock agreed in 2024 to acquire Global Infrastructure Partners for $12.5 billion, a deal that closed October 1, 2024 and gave it a dedicated vehicle for hard assets: data centers, power grids and transmission infrastructure. Two weeks before that close, BlackRock, GIP, Microsoft and MGX launched what is now called the AI Infrastructure Partnership, targeting $30 billion in equity capital and up to $100 billion including debt financing. Nvidia and xAI joined in March 2025, positioning the firm not just as a capital allocator but as a co-developer of the physical infrastructure A.I. runs on.\u00a0<br><br>&#8220;Savings accounts and pension accounts will be used to fund the construction of new data centers and power infrastructure,\u201d he told an audience in Texas in May 2026.<br>Fink\u2019s investment thesis also contains a labor component he has been unusually public about. In March 2026, he launched Future Builders, a $100 million initiative to train 50,000 skilled tradespeople: electricians, HVAC technicians, construction workers to build the facilities the computing boom requires. He has argued that underinvestment in A.I. infrastructure is a geopolitical vulnerability, warning that Western nations risk falling behind China if capital deployment remains concentrated among a few dominant players.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Larry-Fink.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tLarry Fink.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"amy-hood\">\n\t\t\t\t\n\t\t\t\t\tAmy Hood\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#amy-hood\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Amy Hood' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CFO of Microsoft<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Since stepping in as Microsoft\u2019s first female CFO in 2013, Amy Hood has rewritten the tech giant\u2019s financial strategy. She systematically shifted capital away from legacy desktop software toward cloud computing, orchestrated blockbuster acquisitions like GitHub, LinkedIn and Activision Blizzard, and negotiated critical A.I. alliances including 2023\u2019s $10 billion deal with OpenAI. Now, she is running the same high-stakes playbook in the A.I. infrastructure race,\u00a0<br><br>This year, Microsoft projects a massive $190 billion in capital expenditures\u2014on par with Google\u2014to scale its global data center network. It\u2019s a 61 percent jump from Microsoft\u2019s CapEx last year. To calm Wall Street nerves, the 54-year-old former Goldman Sachs banker has noted that two-thirds of the budget will be directed toward short-lived assets like GPUs and memory chips that generate immediate revenue.\u00a0<br>A few months into 2026, those bets are already yielding massive returns. Driven by robust demand for Azure cloud and Copilot suite, Microsoft\u2019s A.I. business<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.microsoft.com\/en-us\/investor\/events\/fy-2026\/earnings-fy-2026-q3\"> reached a $37 billion annualized revenue run rate <\/a>in early 2026, a 123 percent year-over-year surge. Revenue from Azure cloud alone grew by 40 percent.\u00a0<br><br>Yet, funding this infrastructure race has required cutbacks elsewhere. To protect Microsoft\u2019s industry-leading margins during a period of massive A.I. investment, Hood has executed rolling layoffs that keep total headcount flat and slashed operational budgets. In April, Hood flagged that Microsoft expects its global headcount<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cfodive.com\/news\/microsoft-cfo-flags-workforce-cuts-ai-spending-surges-layoffs\/819027\/\"> to shrink further <\/a>through the next fiscal year to accommodate rising A.I. investments.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Amy-Hood.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tAmy Hood.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Microsoft\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"chris-cox\">\n\t\t\t\t\n\t\t\t\t\tChris Cox\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#chris-cox\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Chris Cox' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Chief Product Officer of Meta<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">As longtime product chief and one of Facebook\u2019s earliest engineers, Chris Cox is tasked with making Meta\u2019s A.I. spending pay off in the apps used by billions of people every day. In the first three months of 2026, Meta\u2019s \u201cFamily of Apps\u201d segment, which Cox oversees,\u00a0generated $55.9 billion in revenue while incurring<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1326801\/000162828026028526\/meta-20260331.htm\"> $29 billion in expenses.<\/a> For the full year, Meta plans to spend up to $169 billion in total operational expenses and up to $145 billion in capital expenditures.<br><br>Working closely with Zuckerberg and Chief A.I. Officer Alexandr Wang, Cox sits at the intersection of Meta\u2019s frontier A.I. work and its consumer products, which span Facebook, Instagram, Threads, WhatsApp, Messenger and smart glasses. As Meta pours hundreds of billions into its superintelligence push, Cox\u2019s job is to ensure the company\u2019s engagement-driven products continue generating enough revenue to bankroll that ambition.<br><br>In June, Cox helped <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/06\/23\/4-billion-startup-cred-meta-whatsapp.html\">recruit Indian fintech entrepreneur Kunal Shah<\/a>, the founder of CRED, to be the new global head of WhatsApp. Similar to how Meta recruited Alexandr Wang, Cox and Zuckerberg invested $900 million in CRED. Shah retained his own roughly 20 percent stake in the startup while stepping back from its executive leadership. Shah is tasked with turning the messaging app into a larger revenue driver through business messaging, transactional tools and A.I.-powered services.\u00a0<br><br>As part of Meta\u2019s company-wide restructuring, Cox also oversaw a major re-wiring of the product team. He helped transition traditional software engineering roles into dedicated A.I.-focused developer squads. General engineers were reallocated into new operational structures, taking on internal roles like &#8220;A.I. builder,&#8221; &#8220;A.I. pod lead,\u201d and \u201cA.I. org lead.\u201d<br><br>Cox\u2019s long-term future at Meta is also closely tied to performance. In March, SEC disclosures revealed a performance-based stock option plan modeled after Elon Musk\u2019s Tesla package. If Meta reaches a $9 trillion market capitalization by 2031, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.barrons.com\/articles\/facebook-meta-stock-price-pay-package-bb9a3297\">Cox could receive a payout worth as much as $921 million<\/a>. Meta is currently worth about $1.67 trillion.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Chris-Cox.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tChris Cox.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Meta\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"william-j-fehrman\">\n\t\t\t\t\n\t\t\t\t\tWilliam J. Fehrman\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#william-j-fehrman\"\n\t\t\t\t\t\taria-label=\"Copy link to 'William J. Fehrman' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Chairman of the Board, President &amp; CEO of American Electric Power<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">William J. Fehrman raised American Electric Power&#8217;s (AEP\u2019s) five-year capital plan to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/legal\/litigation\/aep-raises-capital-plan-78-billion-beats-profit-estimates-data-center-demand-2026-05-05\/\">$78 billion<\/a> in May, adding $6 billion in planned investment in three months as A.I. data center demand surges. He also signed agreements for <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/legal\/litigation\/aep-raises-capital-plan-78-billion-beats-profit-estimates-data-center-demand-2026-05-05\/\">7 gigawatts<\/a> of new large-load capacity in the first quarter and identified more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/legal\/litigation\/aep-raises-capital-plan-78-billion-beats-profit-estimates-data-center-demand-2026-05-05\/\">$10 billion<\/a> in additional investment opportunities beyond the utility&#8217;s current plan.<br><br>Fehrman&#8217;s prospective customers increasingly include the companies building A.I. itself. The company is in discussions with Google to open a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/legal\/litigation\/aep-raises-capital-plan-78-billion-beats-profit-estimates-data-center-demand-2026-05-05\/\">multibillion-dollar data center<\/a> in West Virginia and expects to provide transmission service for a data center campus in Piketon, Ohio. Amazon plans to invest $12 billion in data center campuses in Northwest Louisiana that will be served by Southwestern Electric Power Co., an AEP subsidiary.<br><br>AEP expects 63 gigawatts of incremental contracted load to come online by 2030, with nearly 90 percent tied to data centers. As of May, AEP has received requests for an additional 190 gigawatts of new load, up from 180 gigawatts in February. Fehrman has insisted that hyperscale customers pay for the transmission lines and grid upgrades they require rather than shifting those costs onto households.\u00a0<br><br>In July, AEP Texas secured a federal loan of up to $3.26 billion to finance nearly 100 transmission projects across the state. The upgrades, which include approximately 2,800 miles of new or rebuilt infrastructure, will help serve AEP Texas\u2019 41-gigawatt large-load pipeline while reducing financing costs for existing customers.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/William-J.-Fehrman.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"michael-dell\">\n\t\t\t\t\n\t\t\t\t\tMichael Dell\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#michael-dell\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Michael Dell' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of Dell Technologies<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Over the past year, <a href=\"https:\/\/observer.com\/2025\/12\/michael-susan-dell-pledge-seed-trump-accounts-millions-kids\/\">Michael Dell<\/a> has propelled his eponymous company to a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.delltechnologies.com\/static-files\/ef369f17-2b83-4fd4-9a37-6b6ab53ac9c5\">757-percent surge<\/a> in year-over-year quarterly revenue\u2014just for A.I.-optimized servers. The Dell founder and CEO&#8217;s focus on A.I. data center infrastructure bumped quarterly revenue 88 percent year-over-year to $43.8 billion and drove broad-based demand growth across the portfolio, including $16.1 billion for A.I. servers. During its Q1 earnings report, Dell raised its full-year revenue forecast to $167 billion, driven by $60 billion in A.I. server revenue. While not specific to A.I., Dell pushed quarterly R&amp;D investments up 22 percent year over year to $983 million.<br><br>In May, Dell negotiated an ongoing <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/openai.com\/index\/dell-codex-enterprise-partnership\/\">partnership of undisclosed value with OpenAI<\/a> to bring Codex to the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.dell.com\/en-us\/shop\/artificial-intelligence\/sc\/ai-data-platform\">Dell A.I. Data Platform<\/a> and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.dell.com\/en-us\/lp\/dt\/nvidia-ai\">Dell A.I. Factory<\/a>, both of which operate in partnership with Nvidia. The on-premise and hybrid deployment of proprietary agents includes firewall enclosure for regulated sectors like healthcare and defense, which have historically been limited in A.I. use. He announced earlier this year that the Data Platform\u2014which serves as the \u201c<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.dell.com\/en-us\/blog\/ai-at-scale-starts-with-your-data-introducing-the-supercharged-dell-ai-data-platform-with-nvidia\/\">data foundation<\/a>\u201d for the A.I. Factory\u2014was getting an upgrade to accommodate the agentic era, a move made possible by Dell\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/finance.yahoo.com\/news\/dell-buys-ai-data-startup-184539837.html\">December acquisition<\/a> of Israeli-based data infrastructure startup Dataloop for $120 million. While a small value compared to recent similar acquisitions by Google (which <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cloud.google.com\/blog\/products\/identity-security\/google-completes-acquisition-of-wiz\">bought A.I. infrastructure firm Wiz<\/a> for $32 billion in 2025), it\u2019s a significant step toward full infrastructure offerings.\u00a0<br><br>Dell signed a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.dell.com\/en-us\/blog\/a-partnership-made-for-data-control\/\">deal with Google<\/a> in May to bring Distributed Cloud Gemini to enterprise data centers with Nvidia GPUs. The company booked $24.4 billion in A.I. orders in the latest quarter alone, including a sizable individual order: a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"http:\/\/prnewswire.com\/news-releases\/boost-run-announces-1-44-billion-agreement-with-dell-technologies-to-further-facilitate-enterprise-demand-for-ai-compute-and-storage-infrastructure-302750194.html\">$1.44 billion purchase agreement<\/a> from enterprise A.I. cloud infrastructure provider Boost Run for hardware and software certainty in April. The company now <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.delltechnologies.com\/static-files\/ef369f17-2b83-4fd4-9a37-6b6ab53ac9c5\">sells more in A.I. servers<\/a> than all its PCs combined.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Michael-Dell.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMichael Dell.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"bernard-gavgani\">\n\t\t\t\t\n\t\t\t\t\tBernard Gavgani\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#bernard-gavgani\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Bernard Gavgani' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Senior Advisor to BNP Paribas<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Bernard Gavgani, senior advisor and former chief information officer of French multinational bank BNP Paribas, built A.I. strategy into the firm\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cdn-group.bnpparibas.com\/uploads\/file\/bnp_paribas_infography_2025_gts_strategic_plan.pdf\">tech plan<\/a>, including its <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.asksage.ai\/wp-content\/uploads\/2025\/11\/BNP-Paribas-Case-Study.pdf\">rollout of secure A.I. tool Ask Sage<\/a> to more than 3,000 developers. In May, Gavgani shepherded the continuation of a three-year deal between <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/group.bnpparibas\/en\/press-release\/bnp-paribas-and-mistral-ai-extend-their-partnership-to-support-the-next-phase-of-generative-ai-deployment-within-the-group\">BNP and enterprise A.I. platform Mistral<\/a>, with the partnership now including co\u2011development research projects for banking-specific A.I.<br><br>In March, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/finance\/frances-mistral-raises-830-million-debt-ai-data-centre-build-up-2026-03-30\/\">Mistral raised $830 million in debt financing<\/a>, with BNP a part of the consortium assembled to fund a 44-megawatt data center near Paris built with nearly 14,000 Nvidia chips. In 2025, Gavgani announced BNP was <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/group.bnpparibas\/en\/press-release\/bnp-paribas-signs-a-partnership-with-oracle-to-further-develop-its-cloud-strategy\">deploying Oracle&#8217;s on-premise databases<\/a> in its own data centers. He shared at the Adopt AI Summit by Artefact in mid-2024 that he had <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.artefact.com\/blog\/adopt-ai-summit-bernard-gavgani-global-cio-and-su-yang-head-of-ai-for-transaction-banking-at-bnp-paribas-banking-ecosystem\/\">hired more than 700 data scientists<\/a> and deployed more than 1,000 A.I. use cases at BNP, which <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/rates-globalmarkets.bnpparibas.com\/documents\/legaldocs\/index_files\/BNP_Paribas_FCA_approved_Universal_Registration_Document_2021.pdf\">operates in 65 countries<\/a> with varying regulatory requirements.<br><br>After moving to an advisory role at BNP, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.1touch.io\/press-releases\/bernard-gavgani-former-global-cio-of-bnp-paribas-joins-1touch-io-board-of-directors-to-advance-ai-driven-data-security\">Gavgani joined the board<\/a> of A.I. security firm for enterprise clients <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"http:\/\/1touch.io\">1touch.io<\/a>. Gavgani is an <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=rsinrI97gYU&amp;t=653s\">advocate for A.I. risk control<\/a> and cybersecurity in financial services.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Bernard-Gavgani.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-center has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"eric-glyman-karim-atiyeh\">\n\t\t\t\t\n\t\t\t\t\tEric Glyman &amp; Karim Atiyeh\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#eric-glyman-karim-atiyeh\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Eric Glyman &amp; Karim Atiyeh' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founders &amp; Co-CEOs of Ramp<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">On June 25, Ramp announced that co-founder Karim Atiyeh, previously the company\u2019s chief technology officer, is now its co-CEO, alongside co-founder Eric Glyman. The news came just weeks after Ramp raised $750 million in June at a $44 billion valuation, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-06-04\/ramp-notches-44-billion-valuation-in-new-funding-round\">led by ICONIQ, GIC and Ontario Teachers&#8217; Pension Plan<\/a>\u2014a roughly 38 percent step up from its $32 billion valuation seven months earlier and the company&#8217;s fourth markup in thirteen months. Ramp has now raised $3 billion total and in September 2025 crossed <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/2025\/09\/04\/ramp-exclusive-revenue-billion-dollar-fintech-corporate-credit-card-glyman\/\">$1 billion in annualized revenue<\/a> with positive free cash flow, serving more than 70,000 businesses.<br><br>In April, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.paymentsdive.com\/news\/ramp-names-karim-atiyeh-co-ceo-glyman-cto-Rahul-Sengottuvelu\/824283\/\">the company launched<\/a> a product giving clients clearer visibility into their A.I. spend. According to Ramp\u2019s internal data, average monthly token spend <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/thenewstack.io\/ramp-ai-token-spend-management\/\">increased 13-fold<\/a> from January 2025 to April of this year. In June, Ramp released Stack, an A.I. operating system to help accounting firms onboard clients and optimize bookkeeping\u2014<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/ramp-launches-stack-an-ai-operating-system-for-accounting-firms-302789630.html\">marking the company\u2019s entry<\/a> into the $150 billion accounting industry.<br><br>Glyman, who\u2019s been in the CEO role since co-founding Ramp with Atiyeh in 2019, said they made the co-CEO announcement \u201cnow because of how we see the A.I. exponential reshaping what Ramp can be.\u201d Glyman has said Ramp intends to go public rather than sell. At $44 billion and growing nearly 40 percent valuation step-ups every few months, the IPO would be one of the largest fintech listings on the calendar when it lands.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Eric-Glyman-Karim-Atiyeh.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tEric Glyman and Karim Atiyeh.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"robert-m-bob-blue\">\n\t\t\t\t\n\t\t\t\t\tRobert M. (Bob) Blue\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#robert-m-bob-blue\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Robert M. (Bob) Blue' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>President &amp; CEO of Dominion Energy<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Blue expanded Dominion Energy&#8217;s five-year capital plan to approximately <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.utilitydive.com\/news\/dominion-energy-details-its-65b-5-year-spending-plan\/812984\/\">$65 billion<\/a> as surging A.I. data center demand reshaped the U.S.\u2019s largest electricity market. Announced in February 2026, the plan increased Dominion&#8217;s infrastructure spending by nearly<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/energy\/dominion-energy-forecasts-annual-profit-below-estimates-raises-spending-plan-2026-02-23\/\"> 30 percent <\/a>as the utility reported <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.utilitydive.com\/news\/dominion-energy-details-its-65b-5-year-spending-plan\/812984\/\">48.5 gigawatts<\/a> of data center capacity in various stages of contracting, including projects for Alphabet, Amazon, Microsoft, Meta, Equinix, CoreWeave and CyrusOne. Dominion&#8217;s service territory in Northern Virginia hosts the world&#8217;s largest concentration of data centers.<br><br>In May 2026, Dominion reported data center capacity in various stages of contracting had grown to nearly<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nbcnews.com\/business\/energy\/nextera-dominion-deal-ai-boom-rcna345652\"> 51 gigawatts<\/a>, adding roughly 2.5 gigawatts in one quarter. On the company&#8217;s Q1 2026 earnings call, Blue said Dominion continued to see <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/company\/dominion-resources\/earnings\/q1-2026\/\">&#8220;incredibly strong demand&#8221;<\/a> and &#8220;no detectable change&#8221; in new data centers despite broader concerns about power constraints. Later that month, NextEra Energy agreed to acquireh Dominion in a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/legal\/litigation\/nextera-energy-buy-dominion-668-billion-us-power-deal-2026-05-18\/\">$66.8 billion all-stock transaction<\/a>, citing the rapid growth of electricity demand from A.I. data centers. If the transaction closes, Blue would become president and CEO of the combined company\u2019s regulated utilities and join its board. He would retain oversight of the utility operations serving the companies\u2019 large-load pipeline.<br><br>The deal was met with <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.utilitydive.com\/news\/senator-king-ferc-nextera-dominion-merger-necec\/824073\/\">opposition<\/a> from a Maine senator urging the Federal Energy Regulatory Commission to reject the merger. If the acquisition is approved, the combined company will inherit Dominion&#8217;s nearly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.utilitydive.com\/news\/nextera-dominion-merger-would-create-worlds-largest-regulated-electric-ut\/820457\/\">51-gigawatt c<\/a>ontracted data-center pipeline and its relationships with many of the world&#8217;s largest technology companies.\u00a0<br><br>Beyond transmission lines, Dominion is completing the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"http:\/\/www.dominionenergy.com\/en\/About\/Delivering-Energy\/Wind-Power-Projects\/Coastal-Virginia-Offshore-Wind\">2.6-gigawatt Coastal Virginia Offshore Wind project <\/a>while expanding its transmission network and generation fleet to meet long-term demand from hyperscale computing.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Robert-M.-Blue.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tRobert M. Blue.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"tekedra-mawakana\">\n\t\t\t\t\n\t\t\t\t\tTekedra Mawakana\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#tekedra-mawakana\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Tekedra Mawakana' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-CEO of Waymo<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Tekedra Mawakana, co-CEO of Alphabet-owned autonomous vehicle company Waymo, is at the helm of a company raking in more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businessinsider.com\/autonomous-vehicle-industry-funding-cycles-vc-deals-waymo-robotaxis-2026-5\">80 percent of the industry\u2019s $19 billion<\/a> in venture capital funding during the first half of 2026. <a href=\"https:\/\/observer.com\/2026\/02\/waymo-raise-16b-robotaxi-expansion\/\">Valued at $126 billion<\/a>, Waymo has increased in value by more than 400 percent since Mawakana first took over operations in 2019.<br><br>At TechCrunch Disrupt in October, Mawakana announced plans to <a href=\"https:\/\/observer.com\/2025\/10\/tekedra-mawakana-waymos-expand-highway-airports-cities\/\">increase Waymo\u2019s weekly autonomous rides<\/a> from the \u201chundreds of thousands\u201d to one million by the end of 2026. Already operating in five U.S. cities, she added the company plans to more than double its geographic footprint by expanding to new locations: Miami, Dallas, Denver, Seattle, Nashville and Washington, D.C.<br><br>Since Mawakana\u2019s ascension, the company has secured a partnership with Uber, allowing users to book Waymo rides through the app. Still, its reported <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/news\/newsletters\/2025-12-26\/waymo-expansion-seeks-to-make-robotaxis-relevant?srnd=homepage-asia&amp;embedded-checkout=true\">$350 million in annual revenue<\/a> is offset by losses. Alphabet accounts for the firm\u2019s finances in its &#8220;Other Bets&#8221; segment, which reported <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/s206.q4cdn.com\/479360582\/files\/doc_financials\/2025\/q4\/GOOG-10-K-2025.pdf\">$7.5 billion in operating losses<\/a> in 2025, including $2.1 billion in employee compensation for Waymo\u2019s fourth quarter alone. Mawakana continues to proselytize about Waymo\u2019s safety\u2014the tech shows a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/stanforddaily.com\/2026\/05\/27\/waymo-co-ceo-tekedra-mawakana-outlines-vision-for-a-world-of-autonomous-vehicles\/\">13-times reduction in serious injury-causing crashes<\/a> compared to human drivers, she told Stanford Graduate School of Business in May.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Tekedra-Mawakana.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tTekedra Mawakana.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"mustafa-suleyman\">\n\t\t\t\t\n\t\t\t\t\tMustafa Suleyman\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#mustafa-suleyman\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Mustafa Suleyman' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Microsoft AI<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Mustafa Suleyman\u2019s team at Microsoft AI now leads the development of the company&#8217;s proprietary models after Microsoft renegotiated its OpenAI partnership to give itself greater freedom to build independently. That strategy came into focus at Microsoft Build, where Suleyman introduced <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.theverge.com\/tech\/941664\/microsoft-ai-model-reasoning-mai-thinking-1-build-2026\">seven in-house MAI models<\/a> spanning reasoning, coding, voice, transcription and image generation. MAI-Thinking-1 features 35 billion active parameters and a 256,000-token context window, while MAI-Code-1was built for GitHub. <br><br>Microsoft says MAI-Transcribe-1 delivers enterprise-grade transcription at roughly half the GPU cost of leading alternatives while processing batch transcription 2.5 times faster than Azure Fast. The models are already being deployed across Bing, PowerPoint, Teams and Azure AI Foundry, with customers including Shutterstock and WPP, extending Suleyman\u2019s work to products used by hundreds of millions of consumers and enterprises. Suleyman has argued that Microsoft is pursuing &#8220;<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.ft.com\/content\/f1ec830c-2f08-4b1a-b70f-7330f260753c?syn-25a6b1a6=1\">true self-sufficiency<\/a>,&#8221; reducing its dependence on OpenAI by developing proprietary models. Microsoft AI is also taking those models into healthcare. In June, the company partnered with Mayo Clinic to develop a frontier foundation model trained on de-identified clinical data, longitudinal patient records and clinical expertise, with deployment planned by Mayo and through Azure AI Foundry.\u00a0<br><br>Meanwhile, Microsoft is planning a $190 billion capital spending program, which includes $25 billion tied to higher chip and memory costs, as the company builds the infrastructure needed for its AI ambitions. Microsoft added <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.datacenterdynamics.com\/en\/news\/microsoft-brings-1gw-of-data-center-capacity-online-in-q2-2026\/\">one gigawatt of data center capacity<\/a> in its most recent quarter, expects to double its infrastructure footprint within two years and says demand for compute will continue to outpace supply at least through the end of 2026.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Mustafa-Suleyman.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMustafa Suleyman.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-center has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"michael-truell\">\n\t\t\t\t\n\t\t\t\t\tMichael Truell\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#michael-truell\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Michael Truell' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Cursor\/Anysphere<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Michael Truell co-founded Anysphere, the parent company of A.I. coding agent Cursor, in 2022 alongside three MIT classmates. Last November, Truell, 25, became a billionaire following a funding round that <a href=\"https:\/\/observer.com\/2025\/11\/vibe-coding-startup-cursor-hit-29b-valuation\/\">valued the company at $29.3 billion<\/a>. This June, Elon Musk&#8217;s SpaceX agreed to <a href=\"https:\/\/observer.com\/2026\/06\/spacex-cursor-acquisition-makes-founders-young-billionaires\/\">acquire the company for $60 billion<\/a>, a move that doubled Truell\u2019s net worth to $2.7 billion.<br><br>An <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/article\/cursor-ceo-vibe-coding-warning\/\">opponent of true vibe coding<\/a>, Truell describes Cursor as an assistant that builds on existing developer workflows. His leadership enabled the company to double its annualized recurring revenue to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-03-02\/cursor-recurring-revenue-doubles-in-three-months-to-2-billion\">$2 billion in three months<\/a>, with roughly 60 percent of that revenue coming from corporate customers (including <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cursor.com\/enterprise\">64 percent of all Fortune 500<\/a> companies). Nvidia\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2025\/10\/08\/cnbc-transcript-nvidia-co-founder-president-ceo-jensen-huang-speaks-with-cnbcs-squawk-box-today.html\">Jensen Huang said in October<\/a> that Truell\u2019s Cursor is his \u201cfavorite enterprise A.I. service.\u201d<br><br>\u201cThere was going to be an opportunity for all of coding to change in the next five years and for all of software development to flow through models,\u201d Truell said in an <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=TrXi3naD6Og\">interview for Y Combinator<\/a>\u2019s AI Startup School in San Francisco last year. \u201cIt felt like no one working on the space at the time was really taking that seriously.\u201d<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Michael-Truell.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMichael Truell.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tPhoto by Andria Lo, Courtesy of Cursor\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"scott-wu\">\n\t\t\t\t\n\t\t\t\t\tScott Wu\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#scott-wu\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Scott Wu' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Cognition<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In September 2025, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/aibusiness.com\/generative-ai\/ai-coding-startup-valued-at-26-billion\">Cognition raised $400 million at a $10.2 billion<\/a> valuation; eight months later, it raised more than $1 billion at a $26 billion valuation, led by Lux Capital, General Catalyst and 8VA, with Founders Fund, Khosla, Bain Capital Ventures and Elad Gil among the backers. <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/05\/27\/ai-coding-startup-cognition-raises-1b-at-25b-pre-money-valuation\/\">Run-rate revenue had climbed<\/a> from $37 million a year earlier to $492 million, a multiple of nearly 53 times. Goldman Sachs, Mercedes-Benz and the U.S. Navy are paying customers; Mercedes says <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cognition.com\/blog\/mercedes-benz-cognition\">a legacy overhaul<\/a> that took eight months took Devin eight days.<br><br>Wu calls Cognition the \u201cSwitzerland\u201d of A.I., meaning it\u2019s model-agnostic, routing each task through OpenAI, Anthropic and its own model on price-performance. The bet is that durable value lives in the agent layer, not the model layer. The labs that are incinerating hundreds of billions of dollars on compute are building the commodity, and the orchestrator on top is building the franchise. The Windsurf acquisition extended the same logic downward\u2014when Google poached Windsurf&#8217;s founders in mid-2025, Wu bought what remained, taking the workspace developers sit in all day so he&#8217;d own both the agent and the surface it runs on.<br><br>Wu insists Devin augments rather than replaces. <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/05\/29\/cognitions-scott-wu-says-ai-coding-agents-shouldnt-replace-humans\/\">&#8220;We\u2019ve never thought about [A.I.] as replacing humans,&#8221;<\/a> Wu told TechCrunch in May. But the thing he sells is the instrument that lets a company convert a payroll line into an A.I. bill, and the 89-percent figure is his own proof that it works. The capital flowing toward him is, finally, a wager on how much of the world\u2019s coding labor it can flow away from<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Scott-Wu.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tScott Wu.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"robin-vince\">\n\t\t\t\t\n\t\t\t\t\tRobin Vince\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#robin-vince\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Robin Vince' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of BNY<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">With <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.marketbeat.com\/earnings\/reports\/2026-4-16-the-bank-of-new-york-mellon-co-stock\/#google_vignette\">over 300 A.I.-enabled solutions in production<\/a> and over <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bny.com\/corporate\/global\/en\/about-us\/bny-what-we-do.html\">$60 trillion in assets<\/a> under custody and administration, BNY CEO Robin Vince is embedding A.I. into the core infrastructure of the world&#8217;s largest custody bank. In May, Vince said BNY has increased the number of analysts and interns over the past two years, hiring graduates who arrive with A.I. skills already in hand to unlock greater productivity across its workforce. As of March, Vince had deployed <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businessinsider.com\/bny-managers-teams-humans-agentic-ai-digital-employees-robin-vince-2026-3\">more than 100 digital employees<\/a>, who \u201call report to a human manager,\u201d he said in an interview.<br><br>BNY reportedly spends more than any of its peers\u2014about <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/video\/2026\/02\/09\/americas-oldest-bank-bets-big-on-ai.html\">19 percent of its revenue<\/a>\u2014on technology investments, totaling nearly $4 billion annually. Vince led BNY to become <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bny.com\/corporate\/global\/en\/about-us\/technology-innovation\/artificial-intelligence.html\">the first major bank to deploy an A.I. supercomputer<\/a> (powered by Nvidia) to accelerate processing capacity and A.I. capabilities. Last fall, when BNY announced <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bny.com\/corporate\/global\/en\/about-us\/technology-innovation\/artificial-intelligence.html\">an update to its enterprise A.I. platform<\/a>, Eliza, Vince said that the majority of employees are trained in generative A.I. and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bny.com\/corporate\/global\/en\/insights\/unlocking-potential-enterprise-ai-platform-bny.html\">use Eliza daily<\/a>. So far this year, BNY has coortindated partnerships with both OpenAI and Anthropic to use their <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.axios.com\/2026\/04\/16\/scoop-bny-openai-gpt-cyber\">advanced cyber models<\/a>\u00a0to scan for\u00a0vulnerabilities.<br><br>Last year, BNY announced a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cmu.edu\/news\/stories\/archives\/2025\/september\/bny-and-carnegie-mellon-university-join-forces-to-advance-ai-education-and-research\">$10 million partnership with Carnegie Mellon University<\/a> to establish <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.linkedin.com\/posts\/robin-vince_ai-in-pittsburgh-pa-ugcPost-7372647659914055680-nNrA\/\">a dedicated A.I. research lab<\/a> in Pittsburgh.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Robin-Vince-1.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tRobin Vince.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of BNY\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"kevin-ooley\">\n\t\t\t\t\n\t\t\t\t\tKevin Ooley\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#kevin-ooley\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Kevin Ooley' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Incoming CEO of DataBank<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Kevin Ooley has been DataBank\u2019s CFO since 2011, and the credit lines, bond sales and bank loans behind nearly all of that buildout carry his signature. In January 2026, he detailed DataBank\u2019s strategy of using flexible credit facilities and asset-backed financing to fund new A.I. data centers after the company expanded its development facility from $725 million to $1.6 billion.<br><br>DataBank closed a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.databank.com\/resources\/press-releases\/databank-raises-1-1-billion-in-hyperscale-asset-securitization\/\">$1.1 billion securitization<\/a> in September 2025, the first dual-rated data center ABS in the market (S&amp;P and Moody&#8217;s both signed off) and the first hyperscale securitization of its kind. It was subscribed to by 38 investors, pushing DataBank&#8217;s total securitized debt past $3.2 billion. A $1.6 billion credit facility expansion followed, then\u00a0a $2 billion construction loan\u00a0led by MUFG in April 2026 for the company&#8217;s new Red Oak campus outside Dallas, where Oracle has signed on as the\u00a0anchor tenant. DataBank added an $800 million revolver and a $650 million Red Oak upsize in June. While DataBank operates 76 facilities compared to over 260 for Equinix and more than 300 for Digital Realty, its recent financing pace has put it among the fastest-scaling private operators in the market, raising nearly $6 billion in 12 months.<br><br>What Ooley sells investors is the idea that data center debt is the safer way into the A.I. trade. One need not bet on a specific A.I. model or chipmaker. Instead, the bonds financing the data centers that house the GPUs can be bought directly. Data center ABS issuance industry-wide has grown from <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/media.crai.com\/wp-content\/uploads\/2025\/12\/03163400\/Insights-Data-center-ABS-%E2%80%93-Risks-yields-and-ratings-December2025.pdf\">$2.6 billion in 2020 to more than $14 billion a year<\/a>.<br><br>The A.I. buildout is also creating demand for the skilled labor needed to construct and operate these facilities. \u201cWe have seen a tremendous amount of demand for highly paid trade jobs,\u201d Ooley tells Observer. \u201cWe employ several hundred to several thousand construction workers for multiple years. These include general contract labor but also mechanical and electrical subs. Once commissioned, we staff highly paid critical infrastructure (facilities) staff alongside data center technicians.\u201d He added that \u201cthe demand for these trade jobs is outpacing the supply of available candidates.\u201d<\/p>\n\t\t\t\n\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__cta__wrapper\" data-purpose=\"cta\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/observer.com\/2026\/07\/databank-new-ceo-kevin-ooley-on-ais-data-center-reckoning\/\" data-purpose=\"cta\" class=\"wp-block-observer-listicle__cta\" target=\"_blank\"  rel=\"noopener\">\n\t\t\t\t\t\tRead Our Interview with Kevin Ooley\t\t\t\t\t<\/a>\n\t\t\t\t<\/p>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Kevin-Ooley.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tKevin Ooley.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of DataBank\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"misha-laskin-ioannis-antonoglou\">\n\t\t\t\t\n\t\t\t\t\tMisha Laskin &amp; Ioannis Antonoglou\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#misha-laskin-ioannis-antonoglou\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Misha Laskin &amp; Ioannis Antonoglou' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founders of Reflection<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In May, Reflection was named A.I. model provider for all 17 U.S. Department of Energy national laboratories\u2014the institutions that built the atomic bomb, mapped the human genome and run the country&#8217;s supercomputing infrastructure. Co-founded by Misha Laskin and Ioannis Antonoglou in late 2024, Reflection is now the &#8220;foundational intelligence layer&#8221; for the DOE&#8217;s Genesis Mission.\u00a0<br><br>In March 2025, the duo raised $130 million at a valuation of $545 million. In October 2025, Nvidia led Reflection&#8217;s $2 billion Series B with an $800 million check, valuing the company at $8 billion. Nvidia uses strategic investments to secure future chip customers; an $800 million lead check\u201440 percent of the entire round\u2014signals Reflection is expected to become one of its largest. Lightspeed, Sequoia, GIC and DST Global also participated. By March 2026, Reflection was seeking $2.5 billion at a $25 billion valuation, a 46-fold increase from its Series A twelve months earlier.<br><br>In June 2026, Reflection signed a $6.3 billion compute agreement with SpaceX Colossus 2 in Memphis\u2014$150 million per month starting July 1, 2026, through 2029, for access to Nvidia GB300 chips that provide instant, massive computational scale required to eliminate capacity bottlenecks, double user rate limits, and train frontier models without being throttled by standard cloud shortages. This month, Reflection finalized a deal with European A.I. infrastructure company Nebius, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-07-14\/nebius-to-sell-1-billion-in-ai-capacity-to-startup-reflection?embedded-checkout=true\">spending up to $1 billion<\/a> to access Nvidia&#8217;s latest chips.<br><br>&#8220;DeepSeek and Qwen are our wake-up call,&#8221; Laskin told TechCrunch at the Series B close. &#8220;If we don&#8217;t do anything about it, the global standard of intelligence will be built by someone else. It won&#8217;t be built by America.&#8221;\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Misha-Laskin-Ioannis-Antonoglou.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMisha Laskin &amp; Ioannis Antonoglou\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Reflection\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"mira-murati\">\n\t\t\t\t\n\t\t\t\t\tMira Murati\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#mira-murati\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Mira Murati' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of Thinking Machines Lab<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Mira Murati led OpenAI&#8217;s core product development as head of applied A.I. and then CTO for six and a half years, through ChatGPT, DALL-E and GPT-4. When Sam Altman was briefly ousted during a boardroom crisis in November 2023, Murati was the board\u2019s first choice as interim CEO. When she founded Thinking Machines Lab in February 2025 with a team drawn from OpenAI, Meta AI and Mistral, she brought with her a crucial diagnosis of where frontier A.I. development goes wrong.<br><br>&#8220;Knowledge of how these systems are trained is concentrated within the top research labs,&#8221; Murati wrote at the founding, &#8220;limiting both the public discourse on A.I. and people&#8217;s abilities to use it effectively.&#8221; The company she built around that diagnosis focuses not on scaling the next pre-training run but on post-training: making existing models more useful, customizable and auditable.<br><br>In July 2025, Andreessen Horowitz led a $2 billion seed round at a $12 billion valuation\u2014the largest seed round in A.I. history. Nvidia, Google, Jane Street, Accel and ServiceNow participated. John Schulman, co-founder of OpenAI who co-led its post-training team before a six-month stint on Anthropic&#8217;s Alignment Science team, joined as chief scientist. In March 2026, Nvidia signed a multiyear supply agreement to provide Thinking Machines with its next-generation Vera Rubin accelerators\u2014Nvidia committing unreleased chips to a lab with no disclosed revenue is an unusually strong institutional signal.<br><br>Thinking Machines&#8217; first product, Tinker, launched in October 2025, giving developers fine-grained control over model fine-tuning without managing distributed compute. Interaction models, launched in research preview May 2026, are multimodal voice systems that interrupt and add context mid-conversation\u2014a direct architectural challenge to the turn-based model every major competitor has standardized on.\u00a0<br><br>At Bloomberg Tech on June 4\u2014her first major public appearance in 18 months\u2014she described frontier A.I. development as a tandem bike, not an autopilot: human and machine engaged continuously, rather than signed off at a checkpoint and left alone.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Mira-Murati.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMira Murati.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Thinking Machines Lab\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"reid-hoffman\">\n\t\t\t\t\n\t\t\t\t\tReid Hoffman\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#reid-hoffman\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Reid Hoffman' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; Board Chair of Manas AI<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">LinkedIn co-founder and Greylock partner Reid Hoffman just gave up a nine-year seat on<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/06\/05\/linkedin-co-founder-reid-hoffman-leaving-microsoft-board-after-decade.html\"> Microsoft&#8217;s board<\/a> to go back to founder mode. Given what he has been building, that is worth taking seriously.<br><br>Hoffman spent the past year making the cultural case for A.I. at a scale few investors bother with.<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.superagency.ai\/\"> Superagency: What Could Possibly Go Right with Our AI Future<\/a>, published in January 2025, became a New York Times bestseller and landed in the curriculum at Wharton and Stanford, with endorsements from Bill Gates, Satya Nadella and Fei-Fei Li. His &#8220;Possible&#8221; podcast with former UK Deputy Prime Minister Nick Clegg carries that argument into global policy circles. But Hoffman isn&#8217;t entirely sunny about it. &#8220;I worry that we fumble it in bad ways,&#8221;<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/2025\/01\/31\/reid-hoffman-interview-openai-deepseek-superagncy-ai-book\/\"> he told Fortune<\/a> in January 2025. &#8220;The transition is going to be painful.&#8221;<br><br>As a Greylock partner with more than 37 A.I. companies in the portfolio, Hoffman co-founded<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2025\/02\/02\/reid-hoffman-launches-manas-ai-a-new-drug-discovery-startup.html\"> Manas AI<\/a> with oncologist Dr. Siddhartha Mukherjee in January 2025. The firm has since raised $50.6 million across two seed rounds for A.I.-driven drug discovery targeting prostate cancer, lymphoma and triple-negative breast cancer. Competitors like Xaira launched at $1 billion, and Manas is not yet in that class, but a Microsoft Azure partnership and Hoffman&#8217;s network give it reach.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Reid-Hoffman.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tReid Hoffman.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Reid Hoffman\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"shishir-mehrotra\">\n\t\t\t\t\n\t\t\t\t\tShishir Mehrotra\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#shishir-mehrotra\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Shishir Mehrotra' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Superhuman<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Shishir Mehrotra led Grammarly\u2019s company rebrand to Superhuman in 2025 after acquiring the A.I.-powered email app of the same name. While the deal value remains undisclosed, Superhuman Mail was<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2025\/07\/01\/grammarly-acquires-ai-email-client-superhuman\/\"> valued at $825 million<\/a> at the time. Just over a month before the July 2025 deal, Mehrotra\u2019s company <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.crunchbase.com\/organization\/superhuman-1#financials\">secured $1 billion in growth financing<\/a> from General Catalyst to fund its acquisitions and fuel its broader expansion. Mehrotra himself became CEO of Superhuman after the company<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20241217547105\/en\/AI-Leader-Grammarly-to-Acquire-Coda-Bring-on-New-CEO\"> acquired Coda, his productivity startup,<\/a> for an undisclosed amount in late 2024. Prior to the acquisition, Coda\u2019s latest<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/sites\/rashishrivastava\/2021\/07\/08\/all-in-one-doc-startup-coda-reaches-14-billion-valuation-in-100-million-raise-from-a-major-pension-fund\/\"> valuation was $1.4 billion<\/a>.\u00a0<br><br>Superhuman now has a suite of four main products: Grammarly, Superhuman Mail, Superhuman Docs (formerly Coda), and Superhuman Go, its new A.I. assistant product launched in October alongside the company rebrand. After a February<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blog.superhuman.com\/superhuman-to-acquire-rows\/\"> acquisition of spreadsheet technology Rows<\/a>, which had raised <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.crunchbase.com\/organization\/rowshq\">at least $40 million<\/a> at the time, Mehrotra is using Rows\u2019 expertise to build a new experience inside Superhuman Docs (formerly Coda)\u2014for example, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/superhuman.com\/databases?ref=blog.superhuman.com\">releasing Superhuman Databases<\/a>, a new data management product. Most recently, in June, Superhuman <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blog.superhuman.com\/superhuman-to-acquire-gptzero\/\">acquired GPTZero<\/a>, the A.I. content detector and authenticity suite, to build out Superhuman\u2019s authenticity layer. He<a href=\"https:\/\/observer.com\/2025\/10\/ceo-shishir-mehrotra-on-grammarlys-new-chapter-as-superhuman-interview\/\"> told Observer in October<\/a> that the company-wide rebranding was crucial because \u201cwe wanted to be able to expand our offerings over time and still have it fit.\u201d<br><br>Mehrotra, a board member at Walmart and Spotify, views A.I. not as a job taker but as a \u201cjob expander.\u201d The scale behind that claim is easy to miss: &#8220;Grammarly processes over a hundred billion LLM queries per week,&#8221; Mehrotra tells Observer\u2014making it, by his account, most users&#8217; number-one A.I. tool without them ever registering it as one. That&#8217;s the design philosophy behind Superhuman Go, which he describes as bringing &#8220;proactive A.I.&#8221; directly into a user&#8217;s workflow rather than requiring them to seek it out. He also credits Superhuman Mail with saving him personally &#8220;10 to 20 hours a week&#8221; of email triage through its auto-sorting and auto-drafting features.<br><br>Mehrotra frames the company&#8217;s philosophy on A.I. use as a firm line between augmentation and replacement. A.I. should be &#8220;an extension of yourself and not a replacement of yourself,&#8221; he tells Observer.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Shishir-Mehrotra.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tShishir Mehrotra.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Superhuman\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"ivan-zhang-aidan-gomez-nick-frosst\">\n\t\t\t\t\n\t\t\t\t\tIvan Zhang, Aidan Gomez &amp; Nick Frosst\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#ivan-zhang-aidan-gomez-nick-frosst\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Ivan Zhang, Aidan Gomez &amp; Nick Frosst' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founders of Cohere<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In April, Canadian large language model company Cohere, co-founded by Nick Frosst, Aidan Gomez and Ivan Zhang, announced its intent to acquire German A.I. startup Aleph Alpha, giving the combined company a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.ft.com\/content\/4492c0d6-855b-4164-9ae5-f4d855a95f1e?syn-25a6b1a6=1\">valuation estimated at around $20 billion<\/a>. The deal aims to pit Cohere as a strong alternative to both <a href=\"https:\/\/observer.com\/2026\/04\/cohere-aidan-gomez-aleph-alpha-acquisition\/\">American and Chinese A.I. giants<\/a>. In February, Cohere reported that 2025 revenue more than doubled, from <a href=\"https:\/\/observer.com\/2025\/09\/interview-coheres-ivan-zhang-how-enterprise-first-ai-built-a-6-billion-company\/\">$100 million<\/a> to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2026\/02\/13\/ai-startup-cohere-revenue-ipo.html\">$240 million<\/a>, a KPI that has already helped the merged brand secure <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cohere.com\/blog\/cohere-alephalpha-join-forces\">$600 million in Series E funding<\/a>.<br><br>Cohere&#8217;s 2026 releases\u2014Command A+, Cohere Transcribe and North Mini Code\u2014all open-sourced by design, letting governments and enterprises run models on their own infrastructure rather than ceding control to a foreign cloud. The strategy extends to North, Cohere\u2019s secure A.I. agentic platform, and Model Vault, its private inference layer for scalable, closed-network deployment. The product logic maps directly onto Cohere&#8217;s customer list: SAP and TKMS in Germany, Fujitsu in Japan, LG CNS in Korea, Dell and RBC in North America, stc in the Middle East, RWS and the UK government and Indra Group in Spain\u2014enterprises and states buying autonomy, not just accuracy. The May acquisition of Reliant AI added a biopharma research team and proprietary datasets to that platform, while an expanded Nvidia partnership secured hardware-optimized models for workloads frontier labs still can&#8217;t serve; vertical deals with Aston Martin, Aramco and Ensemble Health show the same sovereignty pitch working at the brand and industry level. Nearly 700 employees now span North America, EMEA, APAC and MENA.<br><br>Domestically, Frosst, Gomez and Zhang have partnered with groups like<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.thalesgroup.com\/en\/news-centre\/press-releases\/thales-and-cohere-partner-accelerate-ai-integration-naval-service\"> Thales Canada<\/a> and<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cohere.com\/blog\/bell-partnership\"> Bell Canada<\/a>, the latter of which led, in June, to a three-year,<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.buzzhpc.ai\/company\/news\/hives-buzz-hpc-closes-usd-220-million-sovereign-ai-gpu-contract-with-bell-ai-fabric-for-cohere-inc\/\"> $220 million contract<\/a> with HIVE Digital Technologies\u2014funding Cohere&#8217;s security-first LLMs and building sovereign A.I. infrastructure for Canadian enterprise and government customers specifically. In July, the co-founders extended that value proposition internationally with<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cohere.com\/ar\/blog\/transcribe-arabic\"> Transcribe Arabic<\/a>, a speech-to-text model for Arabic speakers.<br><br>&#8220;When I think of sovereignty, I think of autonomy and agency and control,\u201d Frosst tells Observer. \u201cI think it can apply to a country, an organization, an enterprise, a smaller company, and I think it can apply to a person.&#8221; Of Cohere\u2019s focus on enterprise and government clients rather than consumers, <a href=\"https:\/\/observer.com\/2025\/09\/interview-coheres-ivan-zhang-how-enterprise-first-ai-built-a-6-billion-company\/\">Zhang told Observer<\/a> earlier this year that, \u201cwhile other people were racing to build the flashiest demo, we built the infrastructure that actually works when you need to deploy at scale with real stakes.\u201d<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Aidan-Gomez-Ivan-Zhang-Nick-Frosst.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tIvan Zhang, Aidan Gomez &amp; Nick Frosst.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Cohere\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"daphne-koller\">\n\t\t\t\t\n\t\t\t\t\tDaphne Koller\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#daphne-koller\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Daphne Koller' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of Insitro<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Daphne Koller is converting Insitro&#8217;s A.I.-discovered drug targets into a widening set of pharma milestone payments, the clearest available proxy for whether A.I.-derived science can move capital in addition to attracting it. Since founding Insitro in 2018\u2014after 20 years as a Stanford computer science professor and co-founding Coursera\u2014Koller has built a company backed by more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.insitro.com\/news\/insitro-presents-new-data-demonstrating-its-ai-discovered-mash-candidate-shows-anti-fibrotic-signal-beyond-liver-fat-reduction-at-the-american-diabetes-association-86th-scientific-sessions\/\">$750 million in capital<\/a>, including roughly $140 million in pharma collaboration revenue, toward turning algorithmic target discovery into clinical candidates. <br><br>&#8220;You cannot make a cell grow faster by throwing more GPUs at it,&#8221; Koller tells Observer, adding, &#8220;The notion of breaking things is a very bad idea.&#8221;<br><br>The Bristol Myers Squibb (BMS) has paid to expand its partnership with Insitro twice in the past year: <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.insitro.com\/news\/insitro-extends-research-collaboration-with-bristol-myers-squibb-leveraging-insitros-chemml-discovery-platform\/\">$20 million in October 2025<\/a> to extend work on an insitro-discovered ALS target, then <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.insitro.com\/news\/insitro-and-bristol-myers-squibb-collaboration-expanded-with-nomination-of-new-targets\/\">$10 million in March 2026<\/a> when BMS nominated two additional targets sourced from Insitro&#8217;s Virtual Human platform\u2014bringing the portfolio to three ALS targets and more than $2 billion in potential milestones plus royalties. Separately, in September 2025, Eli Lilly signed on to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.insitro.com\/news\/insitro-partners-with-lilly-to-build-first-in-kind-machine-learning-models-to-advance-small-molecule-drug-discovery\/\">train machine-learning models on its own proprietary preclinical data<\/a>, a bet that Insitro&#8217;s modeling reduces the animal-study cycles required before a candidate is chosen.<br><br>Following its January acquisition of CombinAbleAI (folded into the new TherML unit), the company&#8217;s lead candidate, CTRO-1013\u2014an AI-discovered siRNA for liver disease\u2014showed a 37 percent reduction in the fibrosis marker TIMP-1 and a 68 percent reduction in the liver-injury marker CK-18 in mice. First-in-human trials are expected in 2026.<br><br>&#8220;Novel biology is the scarcest commodity in this industry,&#8221; Koller says.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Daphne-Koller.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tDaphne Koller.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Insitro\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"ogi-redzic\">\n\t\t\t\t\n\t\t\t\t\tOgi Redzic\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#ogi-redzic\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Ogi Redzic' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Chief Digital Officer of Caterpillar<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Caterpillar\u2019s chief digital officer and head of Cat Digital, Ogi Redzic, is the champion behind the construction equipment company\u2019s plans to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.caterpillar.com\/en\/company\/corporate-responsibility\/corporate-giving\/workforce-innovation-challenge.html\">increase tech investment by 2.5 times<\/a> through 2030. Part of this is a global innovation challenge with a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.caterpillar.com\/en\/news\/corporate-press-releases\/h\/innovation-challenge-registration.html\">$25 million prize pool<\/a> over five years to encourage ideas that create jobs and train skilled workers in an automated, A.I. world.<br><br>Since joining Caterpillar in 2018, Redzic created cloud-based enterprise data platform Helios and helped grow its technology and parts services revenue from <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.caterpillar.com\/en\/news\/corporate-press-releases\/h\/050219_investor_day_announcement.html\">$14 billion in 2019<\/a> to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/18230\/000130817926000360\/cat015318-ars.pdf\">$24 billion in 2025<\/a>, with the goal of reaching $30 billion in 2030. He has overseen Cat Digital\u2019s workforce boom, spearheading a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/sites\/peterhigh\/2026\/03\/09\/caterpillars-ogi-redzic-on-ai-data-and-industrial-innovation\/\">500-percent boost<\/a> in engineers, data scientists and product developers.<br><br>In January, Redzic and his team introduced the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.caterpillar.com\/en\/news\/corporate-press-releases\/h\/cat-ai-assistant.html\">Cat A.I. Assistant<\/a>, which streamlines the purchasing, maintenance, management and operation of equipment. He said his integration of predictive A.I. alerts into equipment <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/sites\/peterhigh\/2026\/03\/09\/caterpillars-ogi-redzic-on-ai-data-and-industrial-innovation\/\">resolves up to 80 percent<\/a> of problems before an actual breakdown happens on a construction site. At the same time, Redzic launched an expanded <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.caterpillar.com\/news\/news-details\/2026\/Caterpillar-Teams-With-NVIDIA-to-Revolutionize-Heavy-Industry-with-Physical-AI-and-Robotics\/default.aspx\">partnership with Nvidia<\/a> to improve in-cab A.I. features, build digital twins of factories and improve physical A.I.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Ogi-Redzic.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tOgi Redzic\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Caterpillar\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"raquel-urtasun\">\n\t\t\t\t\n\t\t\t\t\tRaquel Urtasun\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#raquel-urtasun\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Raquel Urtasun' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of Waabi<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">As founder and CEO, Raquel Urtasun raised<a href=\"https:\/\/observer.com\/2026\/01\/waabi-raises-1b-enters-robotaxi-race\/\"> $1 billion <\/a>to expand Waabi from autonomous trucking into robotaxis. The financing included a $750 million Series C co-led by Khosla Ventures and G2 Venture Partners, plus a<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/01\/28\/waabi-raises-1b-and-expands-into-robotaxis-with-uber\/\"> $250 million<\/a> milestone-based investment from Uber tied to a partnership to deploy at least 25,000 Waabi-powered robotaxis on Uber&#8217;s platform. Founded in 2021, Waabi has become one of the best-funded autonomous driving companies under Urtasun&#8217;s leadership.<br><br>Urtasun built Waabi around what she calls <a href=\"https:\/\/observer.com\/2025\/09\/interview-raquel-urtasun-waabi-self-driving-trucks-ai-breakthroughs\/\">AV 2.0<\/a>, an end-to-end A.I. system designed to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/waabi.ai\/insights\/from-closed-course-to-public-roads-the-path-to-driverless\">reason<\/a> through unfamiliar road conditions rather than relying on hand-coded rules. In June, Waabi announced that the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/waabi.ai\/insights\/waabi-crosses-the-next-frontier-of-generalization-unlocking-truly-scalable-avs\">same A.I. model<\/a> could drive a new Volvo truck platform without retraining or additional data, a breakthrough the company says makes autonomous trucking more scalable. The company validates its technology through mixed-reality testing. It has also partnered with <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/waabi.ai\/insights\/waabi-and-volvo-demonstrate-the-future-of-autonomous-trucking\">Volvo<\/a> to deploy autonomous trucks as well as Nvidia on the computing infrastructure behind its self-driving platform.<br><br>Urtasun continues to teach at the University of Toronto while leading Waabi&#8217;s expansion beyond freight. Her <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/scholar.google.com\/citations?user=jyxO2akAAAAJ&amp;hl=en\">scholarly work<\/a> has been cited close to 107,000 times.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Raquel-Urtasun.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tRaquel Urtasun\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Waabi\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"brian-armstrong\">\n\t\t\t\t\n\t\t\t\t\tBrian Armstrong\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#brian-armstrong\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Brian Armstrong' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Coinbase<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Brian Armstrong, CEO and co-founder of cryptocurrency exchange Coinbase, in June <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/i\/broadcasts\/1qKVmQdWBXMxB?s=20\">announced Coinbase Advisor<\/a>, an SEC-registered A.I. investment advisor that gives users investment guidance. Internally, he said Coinbase operates roughly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/MollySOShea\/status\/2070508727682089135\">1,200 active A.I. agents<\/a> across the organization. In June, Armstrong said Coinbase had cut its A.I. spending nearly in half, even as token usage continued to rise. Coinbase is experimenting with defaulting to open-weight models from China\u2019s Z.ai and Moonshot while allowing employees to select more expensive models when the work requires them. In July, Coinbase said nearly all code merged into its base was A.I. generated and reviewed by humans, up from 5.7 percent in early 2025.<br><br>In May, Armstrong announced on X that he was <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/brian_armstrong\/status\/2051616759145185723\">laying off 14 percent of the company\u2019s workforce<\/a>, responding to weaker crypto markets and reorganizing around A.I.-native teams, specifically \u201crebuilding Coinbase as an intelligence, with humans around the edge aligning it.\u201d Coinbase has also established an independent advisory board to prepare blockchain networks for the long-term risks posed by quantum computing.<br><br>Armstrong has been vocal about the U.S. Senate\u2019s Clarity Act, a bill aimed at regulating digital securities. In January, he <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/finance.yahoo.com\/news\/coinbase-pulls-support-clarity-act-231921604.html\">pulled support for the act<\/a>, but compromised after rewrites, leading the bill to pass the Senate Banking Committee in June.<br><br>Armstrong also co-founded <a href=\"https:\/\/observer.com\/2025\/05\/sam-altman-retro-biosciences-extend-human-age\/\">anti-aging startup NewLimit<\/a>, which raised $435 million in June in a Series C led by <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blog.newlimit.com\/p\/newlimit-raises-435m-led-by-founders\">Peter Thiel\u2019s Founders Fund<\/a>. NewLimit uses A.I. to design therapeutic payloads and genomics experiments to improve its models, with plans to begin A.I.-developed human <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blog.newlimit.com\/p\/newlimit-raises-435m-led-by-founders\">drug trials for liver disease in 2027<\/a>.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Brian-Armstrong.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tBrian Armstrong.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Coinbase\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"yann-lecun\">\n\t\t\t\t\n\t\t\t\t\tYann LeCun\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#yann-lecun\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Yann LeCun' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Executive Chairman of Advanced Machine Intelligence (AMI) Labs<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Former Meta chief A.I. scientist Yann LeCun left Zuckerberg\u2019s tech giant in November 2025 to launch Advanced Machine Intelligence (AMI) Labs, an A.I. research lab focused on world models. AMI Labs surfaced publicly in January and formally launched in March with a $1.03 billion seed round co-led by Cathay Innovation, Greycroft, Hiro Capital, HV Capital and Bezos Expeditions at a $3.5 billion pre-money valuation. LeCun <a href=\"https:\/\/observer.com\/2026\/06\/yann-lecun-startup-ami-labs-future-ai\/\">recruited top researchers<\/a> from Meta and Google DeepMind to build out the lab. \u201cWe have good hopes that this will really be a complete change of the blueprints of intelligent systems,\u201d <a href=\"https:\/\/observer.com\/2026\/06\/yann-lecun-startup-ami-labs-future-ai\/\">LeCun said<\/a> about world models overtaking large language models (LLMs) in June at the VivaTech conference.\u00a0<br><br>LeCun is an <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businessinsider.com\/meta-yann-lecun-shared-open-source-ai-model-2025-5\">advocate for sovereign A.I.<\/a> and distributed foundational repositories\u2014not closed corporate ecosystems. He is vocal about the limitations of LLMs, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.bbc.com\/news\/articles\/cj6gr0xkyr3o\">saying at VivaTech,<\/a> \u201cThey&#8217;re not particularly smart [and] don&#8217;t have an underlying understanding.\u201d He received the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nyu.edu\/about\/news-publications\/news\/2025\/february\/nyu-s-yann-lecun-a-winner-of-the-2025-queen-elizabeth-prize-for-.html\">2025 Queen Elizabeth Prize for Engineering<\/a> for his foundational global contributions to neural networks and the A.I. boom, with the total prize worth \u00a3500,000 ($640k).<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Yann-LeCun.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tYann LeCun.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"demis-hassabis\">\n\t\t\t\t\n\t\t\t\t\tDemis Hassabis\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#demis-hassabis\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Demis Hassabis' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Google DeepMind<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Demis Hassabis unveiled Isomorphic Labs\u2019 <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.isomorphiclabs.com\/articles\/the-isomorphic-labs-drug-design-engine-unlocks-a-new-frontier\">Drug Design Engine<\/a> in February 2026, then raised <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.isomorphiclabs.com\/articles\/isomorphic-labs-announces-series-b-investment-round\">$2.1 billion<\/a> three months later in a Series B led by Thrive Capital with participation from Alphabet, GV, MGX, Temasek, CapitalG and the UK Sovereign AI Fund. The funds will be used to scale the company&#8217;s<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/storage.googleapis.com\/isomorphiclabs-website-public-artifacts\/ISOMORPHIC_LABS_FUNDING_12-05-26.pdf\"> A.I. drug design platform<\/a>, advance its drug candidate pipeline toward the clinic and invest in hiring world-class talent. The raise followed Isomorphic&#8217;s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.isomorphiclabs.com\/articles\/isomorphic-labs-announces-600m-external-investment-round\">$600 million<\/a> external financing in March 2025 to turbocharge its drug discovery programs. Isomorphic has already signed multi-billion-dollar drug discovery partnerships with Eli Lilly and Novartis, with a potential combined value of<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.isomorphiclabs.com\/articles\/isomorphic-labs-kicks-off-2024-with-two-pharmaceutical-collaborations\"> $3 billion<\/a>, including $82.5 million in upfront payments.\u00a0<br><br>As CEO of Google DeepMind, Hassabis oversees the Gemini family of models while leading breakthroughs that extend beyond chatbots into biology, robotics and scientific discovery. At Google I\/O 2026, he introduced <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blog.google\/innovation-and-ai\/technology\/research\/gemini-for-science-io-2026\/\">Gemini for Science<\/a>, a suite of A.I. tools designed to help researchers accelerate scientific discovery, calling A.I. a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.theverge.com\/tech\/934260\/google-io-ai-singularity-demis-hassabis\">&#8220;force multiplier for human ingenuity.&#8221;<\/a><br><br>On July 14, Hassabis wrote that artificial general intelligence is \u201cprobably only a few short years away\u201d and proposed a U.S.-led, public-private standards body to evaluate frontier models before release. Modeled on the Financial Industry Regulatory Authority, the industry-funded body would initially conduct voluntary reviews and could eventually establish mandatory standards for models deployed in the U.S.<br><br>The year also brought setbacks. In January 2026, Hassabis <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/healthcare-pharmaceuticals\/google-backed-ai-drug-discovery-startup-isomorphic-labs-delays-clinical-trial-2026-01-20\/\">delayed <\/a>the expected start date of Isomorphic&#8217;s first human clinical trials of its first A.I.-designed drugs from the end of 2025 to the end of 2026, reflecting the complexity of translating computational breakthroughs into approved medicines.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Demis-Hassabis.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tDemis Hassabis.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"walid-mehanna\">\n\t\t\t\t\n\t\t\t\t\tWalid Mehanna\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#walid-mehanna\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Walid Mehanna' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Chief Data and A.I. Officer, Merck KGaA, Darmstadt, Germany<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">When Walid Mehanna joined Merck KGaA, Darmstadt, Germany, five years ago, the science and technology giant innovating across Life Science, Healthcare, and Electronics did not have a Data and A.I. organization. Today, some 300 specialists report to Mehanna directly, with many more colleagues embedded across the company, a federated setup he calls &#8220;hub-hub-spoke&#8221; that keeps expertise close to customers, partners, and patients. He also chairs the company&#8217;s Digital Ethics Advisory Board, which anchors A.I. deployment in its Code of Digital Ethics and Mehanna serves as a passionate industry voice on this critical area as well.<br><br>Today,\u00a0 the company\u2019s myGPT Suite (a customized, secure version of ChatGPT tailored for employees) counts 36,000 monthly active users, well over half the global workforce, and more than 20,000 employees are in A.I. upskilling programs. The company ranked second in the 2025 Pharma A.I. Readiness Index. &#8220;With the foundation in place, the work now shifts,&#8221; Mehanna says. &#8220;From spreading tools and skills further, to embedding A.I. where it changes how work actually gets done, measured by the outcomes it produces across our businesses, not by activity alone.&#8221;<br><br>This A.I. shift, core to Mehanna\u2019s mandate, is considered one of the company\u2019s strategic growth drivers (alongside product portfolio optimization, innovation, and M&amp;A).\u00a0<br><br>&#8220;Two years ago, I was pretty convinced that the race for AGI or for enterprise A.I. would be decided on the model layer, that whoever had the best model wins,&#8221; Mehanna tells Observer. &#8220;I believe models are still crucial, but they keep leapfrogging each other every few months. They are not a durable advantage. &#8220;A.I. at scale isn&#8217;t a tech challenge,&#8221; he said back in March. &#8220;It&#8217;s a leadership challenge.&#8221;<br><br>In September 2025, the company and Siemens extended their strategic partnership, combining Siemens Xcelerator technology with the group&#8217;s Life Science portfolio for A.I.-driven tools and end-to-end digital workflows from drug discovery to manufacturing.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Walid-Mehanna.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tWalid Mehanna.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Merck KGaA, Darmstadt, Germany\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"ilya-sutskever\">\n\t\t\t\t\n\t\t\t\t\tIlya Sutskever\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#ilya-sutskever\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Ilya Sutskever' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; Chief Scientist of Safe Superintelligence<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Ilya Sutskever&#8217;s Safe Superintelligence (SSI) raised a total of<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2025\/04\/12\/openai-co-founder-ilya-sutskevers-safe-superintelligence-reportedly-valued-at-32b\/\"> $3 billion<\/a> at a $32 billion valuation, without a commercial product, as of April 2025. The round was led by <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.ft.com\/content\/792e09b2-f63b-41ac-8be8-e10e75ead2d1?syn-25a6b1a6=1\">Greenoaks<\/a> with participation from Andreessen Horowitz and Lightspeed Venture Partners. It followed SSI&#8217;s $1 billion financing in September 2024 at a $5 billion valuation.<br><br>Sutskever founded SSI in<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2024\/06\/19\/ilya-sutskever-openais-former-chief-scientist-launches-new-ai-company\/\"> June 2024<\/a> after leaving OpenAI, where he served as co-founder and chief scientist. The company says it has &#8220;<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/ssi.inc\/\">one goal and one product<\/a>: a safe superintelligence.&#8221; Without defining the concept, Sutskever has structured its business around pursuing that objective rather than near-term commercialization. In April 2025, Google Cloud announced that <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.datacenterdynamics.com\/en\/news\/ai-startup-safe-superintelligence-to-use-googles-tpu-chips-for-research\/\">SSI would use its TPU infrastructure<\/a> to power the company&#8217;s research. In July 2025, Sutskever became SSI&#8217;s CEO after co-founder<a href=\"https:\/\/observer.com\/2025\/07\/ilya-sutskever-safe-superintelligence-ceo-daniel-gross-meta\/\"> Daniel Gross departed for Meta<\/a>. Meta had reportedly<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/sutskever-lead-safe-superintelligence-after-meta-poaches-ceo-gross-ai-talent-war-2025-07-03\/\"> attempted to acquire SSI<\/a> and recruit Sutskever before hiring Gross.<br><br>Less than a year later, the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nasonline.org\/award\/nas-award-for-the-industrial-application-of-science\/?utm_source=facebook&amp;utm_medium=social&amp;utm_term=national+academy+of+sciences&amp;utm_content=d97ea53e-90fe-4204-a41a-28cbf5fdb21b&amp;utm_campaign=hootsuite\">National Academy of Sciences<\/a> honored Sutskever with its Award for the Scientific Discovery of Artificial Intelligence, recognizing his contributions to deep learning and generative A.I.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Ilya-Sutskever.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tIlya Sutskever.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"arvind-krishna\">\n\t\t\t\t\n\t\t\t\t\tArvind Krishna\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#arvind-krishna\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Arvind Krishna' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>President &amp; CEO of IBM<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In mid-July, IBM experienced its worst trading day in 58 years, with the stock tanking by about a quarter of its value\u2014a shock that came on the heels of president and CEO Arvind Krishna\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/newsroom.ibm.com\/2026-07-14-Arvind-Krishnas-Letter-to-IBM-Investors\">letter citing <\/a>shifted client priorities towards \u201cservers, storage\u00a0 and memory purchases to secure supply-constrained infrastructure ahead of expected price increases.\u201d Despite stale revenue numbers, Krishna finalized several deals over the last year, including an <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/newsroom.ibm.com\/2026-03-17-ibm-completes-acquisition-of-confluent,-making-real-time-data-the-engine-of-enterprise-ai-and-agents\">$11 billion buyout of Confluent<\/a> in March to incorporate real-time data streaming into its hybrid cloud and generative A.I. systems.<br><br>IBM&#8217;s Z platforms\u2014a family of enterprise computers designed for reliable, massive transaction processing and extreme security\u2014saw a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/newsroom.ibm.com\/2026-07-14-Arvind-Krishnas-Letter-to-IBM-Investors\">shortfall in sales<\/a> in the company\u2019s second fiscal quarter of 2026. Still, Krishna announced that IBM\u2019s latest mainframe, the z17, has so far tracked 30 percent more sales than the z16 predecessor and most customers are either keeping their current systems or buying more capacity. The z17 can process <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/newsroom.ibm.com\/z17\">450 billion A.I. inferences daily<\/a>, optimizing real-time transactions for major <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/futurumgroup.com\/insights\/ibm-z17-aims-to-make-more-possible\/\">banking, airline and retail networks<\/a>.<br><br>Leveraging IBM\u2019s own internal A.I. and automated workflows, Krishna <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/leadershipinstitute.wsj.com\/cmo\/video\/how-ibm-saved-4-5-billion-using-ai\/\">slashed $4.5 billion<\/a> from the company\u2019s operational expenditures across a three-year period ending in 2026. In May, IBM and open-source security company Red Hat <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/newsroom.ibm.com\/2026-05-28-ibm-and-red-hat-commit-5-billion-to-redefine-the-future-of-open-source-in-the-ai-era\">committed $5 billion<\/a> to Lightwell, a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.redhat.com\/en\/lightwell\">joint venture<\/a> \u201cfocused on securing the open source software supply chain.\u201d Since its launch in early July, clients like Bank of America, Visa and Goldman Sachs have signed on for open-source vulnerability remediation. Krishna in December outlined a 5 year, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/newsroom.ibm.com\/2026-06-02-ibm-commits-more-than-10-billion-to-quantum-computing,-funding-its-roadmap-from-todays-leading-systems-to-the-worlds-first-fault-tolerant-quantum-computers\">$10 billion investment in quantum computing<\/a> including R&amp;D, manufacturing and M&amp;A.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Arvind-Krishna.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tArvind Krishna.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of IBM\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"vikram-bajaj\">\n\t\t\t\t\n\t\t\t\t\tVikram Bajaj\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#vikram-bajaj\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Vikram Bajaj' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; Co-CEO of Prometheus<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Prometheus, a physical A.I. startup, emerged from stealth after raising a $12 billion Series B that valued it at<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.axios.com\/2026\/06\/11\/prometheus-bezos-industrial-ai\"> $41 billion<\/a>. Vik Bajaj co-founded the company with Jeff Bezos seven months earlier.<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/06\/11\/jeff-bezoss-prometheus-raises-12b-to-build-an-artificial-general-engineer-for-the-physical-world\/\"> JPMorgan Chase, Goldman Sachs, BlackRock, DST Global, ARCH Venture Partners and Bezos<\/a> participated in the Series B. Bezos said a significant portion of the funding would be spent on compute to train Prometheus&#8217; models.<br><br>Prometheus is building what it calls an &#8220;artificial general engineer,&#8221; software designed to automate the path from design to manufacturing for products including jet engines, medical devices and consumer electronics. Prometheus estimates that manufacturing, aerospace, industrial engineering and pharmaceutical development account for roughly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/finance.yahoo.com\/technology\/ai\/articles\/jeff-bezos-just-raised-12-162005176.html\">60 percent<\/a> of global GDP, or about $70 trillion, yet remain largely inaccessible to A.I. systems trained primarily on internet data. The company has about <a href=\"https:\/\/observer.com\/2026\/06\/jeff-bezos-prometheus-ai-engineer\/\">150 employees<\/a> across San Francisco, London and Zurich.<br><br>Bajaj&#8217;s ambitions extend beyond software. By March, Bezos was in talks to raise as much as <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.wsj.com\/tech\/jeff-bezos-aims-to-raise-100-billion-to-buy-revamp-manufacturing-firms-with-ai-618a3cfe\">$100 billion<\/a> for a separate investment arm that would acquire manufacturing companies and deploy Prometheus&#8217; technology across their operations. The plan pairs one of the largest A.I. financings on record with one of its most ambitious industrial investment strategies.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/07\/Vikram-Bajaj-1.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tVikram Bajaj.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Prometheus\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"jim-burke\">\n\t\t\t\t\n\t\t\t\t\tJim Burke\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#jim-burke\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Jim Burke' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Vistra Corp.<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">As part of the A.I. infrastructure buildout, Vistra Corp. CEO Jim Burke has positioned the utilities company as a key provider of A.I. energy. In June, Burke participated in a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20260610500794\/en\/KKR-Launches-Helix-Digital-Infrastructure-a-New-Company-to-Finance-and-Deliver-the-Next-Generation-of-AI-Infrastructure\">$10 billion investment<\/a> in the KKR-launched Helix Digital Infrastructure alongside Nvidia, with Vistra listed as the preferred power provider for the venture.<br><br>Burke in January finalized a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investor.vistracorp.com\/2026-01-09-Vistra-and-Meta-Announce-Agreements-to-Support-Nuclear-Plants-in-PJM-and-Add-New-Nuclear-Generation-to-the-Grid\">20-year power purchase agreement<\/a> of undisclosed value with Meta, locking in 2,600 megawatts of zero-carbon nuclear energy to power Meta\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/about.fb.com\/news\/2026\/01\/meta-nuclear-energy-projects-power-american-ai-leadership\/\">Prometheus supercluster<\/a> computing system that\u2019s under construction in Ohio. The project includes plant upgrades that represent the largest capacity increase at existing U.S. nuclear plants ever backed by a private corporation, according to Vistra.<br><br>At the start of the year, Vistra <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investor.vistracorp.com\/2026-01-05-Vistra-Adds-to-its-Industry-Leading-Generation-Portfolio-with-Acquisition-of-Cogentrix\">acquired Cogentrix Energy<\/a> for $4 billion, helping Burke and his team secure <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1692819\/000162828026019033\/a450075_vistracorpxarxproo.pdf\">5,500 megawatts of natural gas capacity<\/a> across grid-constrained data center hubs in the U.S. Late last year, Burke also finalized the acquisition of seven natural gas generation facilities from Lotus Infrastructure Partners, securing <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/filecache.investorroom.com\/mr5ir_vistracorp_ir\/341\/2026%20Vistra%20Proxy%20vF.pdf\">2,600 megawatts of capacity<\/a> for <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investor.vistracorp.com\/2025-05-15-Vistra-to-Acquire-Natural-Gas-Assets,-Building-on-Industry-Leading-Generation-Portfolio-to-Better-Serve-Customers\">$1.9 billion<\/a>. As a result of strategic A.I. positioning, Burke reported <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/filecache.investorroom.com\/mr5ir_vistracorp_ir\/343\/Q1_2026_Results_Presentation_vFINAL.pdf\">$5.64 billion in revenue<\/a> for Q1 2026, up 43 percent year over year.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Jim-Burke.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"bret-taylor-clay-bavor\">\n\t\t\t\t\n\t\t\t\t\tBret Taylor &amp; Clay Bavor\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#bret-taylor-clay-bavor\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Bret Taylor &amp; Clay Bavor' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founders of Sierra<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Bret Taylor is best known as the chairman of OpenAI. But his startup, Sierra, co-founded with former Google Labs chief\u00a0 Clay Bavor, is growing into a serious player in enterprise A.I. The company, which builds A.I. agents for customer service, is used by more than 40 percent of Fortune 50 companies and has surpassed $150 million in annual recurring revenue. In May, Sierra raised a $950 million Series E that pushed its valuation past $15 billion, up from $10 billion last fall.\u00a0<br><br>Taylor and Bavor have positioned Sierra as a way to replace traditional customer service software with agents that can handle inquiries more autonomously. In the crowded agentic A.I. space, Sierra differentiates itself from competitors with a model built around outcome-based pricing. It charges customers per resolved interaction rather than per seat or per license, which ensures ROI for clients.\u00a0<br><br>Sierra\u2019s customer list includes ADT, SiriusXM, The North Face and Rivian. More than half of its clients <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/sites\/richardnieva\/2025\/11\/05\/sierra-bret-taylor-clay-bavor\/\">generate over $1 billion in revenue, and 20 percent top $10 billion.<\/a> That customer base helps explain why Sierra has attracted so much capital so quickly. The latest funding will power Sierra\u2019s global expansion, especially in Europe and Asia, while strengthening its foothold in the U.S.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Bret-Taylor-.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tBret Taylor &amp; Clay Bavor.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"aravind-srinivas\">\n\t\t\t\t\n\t\t\t\t\tAravind Srinivas\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#aravind-srinivas\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Aravind Srinivas' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Perplexity<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Aravind Srinivas co-founded Perplexity in 2022 with Denis Yarats, Johnny Ho and Andy Konwinski. What they built has evolved into an agentic A.I. platform that offers more than 20 models, hundreds of connectors and a suite of built-in tools to complete multi-step tasks autonomously.<br><br>In February, Srinivas launched Perplexity Computer, which combines a built-in browser, developer sandbox and Perplexity search. In April, he introduced Personal Computer, a local version that orchestrates across a user&#8217;s own files and native Mac applications. In June, Perplexity unveiled Hybrid Compute, the first agentic tool that autonomously routes tasks between local models running on a user&#8217;s device and frontier models hosted on a server. The company has since integrated Perplexity Computer into Slack, Microsoft Teams and Microsoft 365 apps, and announced a Windows version in June. More than 50,000 organizations now use Perplexity Enterprise.<br><br>Investors have contributed more than $1.5 billion in funding, driving Perplexity&#8217;s valuation to $20 billion in September 2025\u2014a 165-fold increase from $121 million in April 2023. The company&#8217;s annualized revenue run rate had more than doubled by April of this year when it crossed $500 million. Perplexity executes a multi-cloud compute strategy across every major provider, including AWS and Nvidia. In January, it signed a three-year agreement with Microsoft Azure to run OpenAI, Anthropic and xAI models through Microsoft Foundry. In March, it expanded that strategy by signing a multi-year partnership with CoreWeave for Nvidia GB200 NVL72 clusters.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Aravind-Srinivas.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tAravind Srinivas.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Perplexity\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"will-marshall\">\n\t\t\t\t\n\t\t\t\t\tWill Marshall\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#will-marshall\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Will Marshall' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Planet Labs<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Former NASA scientist Will Marshall has positioned his satellite imagery and earth data analytics company as a key ingredient in A.I. expansion. The Planet Labs co-founder and CEO grew the company\u2019s order backlog by <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/s29.q4cdn.com\/903184914\/files\/doc_earnings\/2027\/q1\/earnings-result\/PL-Q1-27-Press-Release.pdf\">72 percent to $906 million<\/a> in the first fiscal quarter of 2027 and raised its projected yearly revenue to $425 million, up more than 40 percent from last year. In April, the company <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.planet.com\/news\/news-details\/2026\/Planet-Successfully-Runs-AI-in-Space\/default.aspx\">successfully launched Nvidia chips<\/a> into orbit.\u00a0<br><br>In March, Marshall announced a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20250306606139\/en\/Planet-and-Anthropic-Partner-to-Use-Claudes-Advanced-AI-Capabilities-to-Turn-Geospatial-Satellite-Imagery-into-Actionable-Insights\">partnership with Anthropic\u2019s Claude<\/a> for an undisclosed amount to pursue what he calls large Earth models, which train on sensor data (such as satellite imagery, weather networks and IoT devices) to understand the physical world. Planet Labs achieved its first <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.planet.com\/news\/news-details\/2026\/Planet-Reports-Financial-Results-for-Fourth-Quarter-and-Full-Fiscal-Year-2026\/default.aspx\">adjusted profit<\/a> of $15.5 million in fiscal year 2026 due to defense data contracts with the likes of NATO and the U.S. Defense Innovation Unit, which continue to account for at least <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.msn.com\/en-us\/money\/other\/planet-labs-ceo-space-is-booming-because-real-world-applications-are-booming\/vi-AA25byMG\">60 percent of revenue<\/a> for the company. Marshall<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.planet.com\/events-and-presentations\/events\/event-details\/2026\/Planet-Labs-PBC-First-Quarter-of-Fiscal-2027-Earnings-Call\/default.aspx\"> anticipates more commercial partners<\/a> to flip this weighting within a couple of years.<br><br>In September, Marshall <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20250912642458\/en\/Planet-Announces-Closing-of-Private-Upsized-Offering-of-%24460000000-of-0.50-Convertible-Senior-Notes-Due-2030\">raised $460 million in convertible debt<\/a> to meet increasing demand. Google\u2019s Project Suncatcher plans to launch two test satellites in 2027 in partnership with Marshall and his team. He projects that space-based data centers could <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/open.spotify.com\/episode\/0c72Fmr42PNQluYLD0PjNM\">undercut terrestrial computing<\/a> facilities by 2029, despite currently costing <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.woodmac.com\/press-releases\/wood-mackenzie-orbital-data-centres-cost-three-times-more-than-terrestrial-alternatives-as-global-power-demand-heads-for-3700-twh\/\">at least three times as much<\/a> and having no full-scale operations yet.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Will-Marshall.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tWill Marshall.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-center has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"ravi-kumar\">\n\t\t\t\t\n\t\t\t\t\tRavi Kumar\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#ravi-kumar\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Ravi Kumar' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO, Cognizant<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Ravi Kumar expanded IT consulting firm Cognizant\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.cognizant.com\/news-and-events\/news\/news-details\/2026\/Cognizant-expands-partnership-with-Google-Cloud-to-accelerate-enterprise-AI-adoption-with-Gemini-Enterprise-and-Google-Workspace\/default.aspx\">partnership with Google Cloud<\/a> in July, deploying Gemini Enterprise and Google Workspace to 100,000 internal associates immediately and 200,000 employees over time. The CEO\u2019s A.I.-led growth strategy positions the firm to bring in more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cognizant.q4cdn.com\/123993165\/files\/doc_earnings\/2026\/q1\/earnings-result\/Q1-26-Earnings-Press-Release.pdf\">$22 billion in revenue<\/a> this year, up roughly 5 percent from last year. In July, Kumar announced <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/news.cognizant.com\/2026-07-09-Cognizant-to-scale-to-5,000-Frontier-Certified-Engineers-and-10,000-Frontier-Business-Operators\">plans to scale human capital<\/a>, hiring 5,000 Frontier Certified Engineers and 10,000 Frontier Business Engineers by the fourth quarter of 2026. <br><br>Cognizant\u2019s context engineering ensures A.I. agents function autonomously at large client organizations. This effort has already brought <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/cognizant.q4cdn.com\/123993165\/files\/doc_events\/2026\/Jun\/05\/Cognizant-CTSH-US-Cognizant-AI-Forum-5-June-2026-9_30-AM-ET.pdf\">$200 million in sales<\/a> to the organization, a number poised to reach $1 billion by the end of 2026, Kumar said at Cognizant\u2019s corporate summit in June.\u00a0<br><br>Kumar said at Fortune\u2019s COO Summit in June that he <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/2026\/06\/01\/cognizant-ceo-ravi-kumar-s-hiring-entry-level-tokenmaxxing-vanity-metric\/\">anticipates A.I. will create more jobs<\/a>. Cognizant has hired around 27,000 graduates since 2025. As of July 15, <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/news.cognizant.com\/2026-07-15-Cognizant-On-Track-to-Hire-1,500-U-S-College-Graduates-in-2026-to-Power-AI-Era-Workforce\">Cognizant is on track to hire 1,500 more<\/a> by the end of this year.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Ravi-Kumar.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tRavi Kumar.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Cognizant\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"tobias-lutke\">\n\t\t\t\t\n\t\t\t\t\tTobias L\u00fctke\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#tobias-lutke\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Tobias L\u00fctke' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Shopify<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Tobias L\u00fctke co-founded Shopify in 2006 after building its first code to sell snowboards online. The company now serves more than 5 million merchants globally. Last year, Shopify generated $11.6 billion in revenue, up 30 percent year-on-year, $378 billion in GMV and $2 billion in free cash flow. Q1 2026 revenue grew 34 percent, with GMV clearing $100 billion in a single quarter for the first time.<br><br>In January 2026, L\u00fctke co-developed with Google the Universal Commerce Protocol\u2014an open standard that gives A.I. agents a common language to discover, negotiate and transact with any merchant across any platform. When UCP launched at the National Retail Federation conference on January 11, Amazon was blocking A.I. crawlers and had removed 600 million products from ChatGPT&#8217;s shopping results. By April, Amazon had joined UCP&#8217;s governing Tech Council alongside Meta, Microsoft, Salesforce and Stripe.<br>L\u00fctke built Shopify on the premise of open infrastructure, with merchant success as the platform&#8217;s metric, and UCP applies that to agentic commerce. Shopify&#8217;s merchants get indexed by every A.I. agent that adopts the protocol. &#8220;It&#8217;s really good at finding people who have specific interests and finding the product that is just perfect for them,&#8221; L\u00fctke said at the UCP launch. B2B GMV on Shopify grew 96 percent year-on-year in 2025.<br><br>Last spring, L\u00fctke sent an internal memo declaring A.I. use a &#8220;fundamental expectation of everyone at Shopify.&#8221; Teams had to prove why they could not complete work using A.I. before requesting a new headcount. A.I. usage was added to performance reviews. &#8220;Our job is to figure out what entrepreneurship looks like in a world where A.I. is universally available,&#8221; he wrote.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/07\/Tobias-Lutke.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tTobias Lu\u0308tke.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"jaakko-kokko\">\n\t\t\t\t\n\t\t\t\t\tJaakko Kokko\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#jaakko-kokko\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Jaakko Kokko' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of AlphaSense<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">AlphaSense CEO Jack Kokko convinced investors this year that the company transforming how Wall Street and enterprise teams conduct research should be worth $7.5 billion, not $4 billion, and he proved it with revenue.<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.alpha-sense.com\/press\/alphasense-raises-350m-at-7-5b-valuation-and-surpasses-600m-in-annual-recurring-revenue\/\"> Kokko closed a $350 million round on June 3<\/a>, led by Vitruvian Partners, Accenture Ventures and J.P. Morgan Asset Management, after annual recurring revenue crossed $600 million in the first quarter, up from $500 million in October. He also turned Accenture into AlphaSense&#8217;s first strategic channel partner, meaning his platform is now represented inside Accenture\u2019s consulting engagements, not just its own sales pipeline.<br><br>\u201cWe\u2019re building a continuously learning intelligence platform that combines proprietary content, deep expert insights from Tegus and purpose-built A.I.,\u201d Kokko said in a company statement. The goal, as he explains it, is \u201cto help organizations move from insight to action in real time, and make faster, higher-conviction decisions in complex environments.\u201d\u00a0<br><br>More than 7,000 enterprises run research on AlphaSense\u2014Amazon, J.P. Morgan Chase, and Nvidia, among them. A Third Point analyst captured what that looks like from inside a fund, writing on LinkedIn that he watched &#8220;every analyst get a login.&#8221; Kokko&#8217;s harder fight is reputational. He&#8217;s pushed back publicly on the idea that tools like his gut entry-level finance jobs,<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.cnbc.com\/2025\/06\/10\/wall-street-analyst-now-ai-ceo-on-why-stock-pickers-wont-go-extinct.html\"> telling CNBC<\/a> it&#8217;s &#8220;a popular narrative,&#8221; a direct break from Anthropic&#8217;s Dario Amodei, who has warned A.I. could erase half of entry-level office work.<br><br>At the same time, AlphaSense launched<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.alpha-sense.com\/press\/alphasense-introduces-superanalyst-the-always-on-ai-execution-layer-for-decision-grade-intelligence\/\"> SuperAnalyst<\/a>, an agent built to run research projects from start to finish. Rather than simply responding to questions, SuperAnalyst agentically codes and executes multi-step research and monitoring work on the user\u2019s behalf.<br><br>\u201cOrganizations don\u2019t just need better answers. They want systems that continuously monitor, analyze, synthesize, and act on information as it changes. As AI accelerates product development, competition, and market change, decision-making itself becomes the bottleneck,\u201d <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.linkedin.com\/posts\/jkokko_15-years-ago-raj-and-i-founded-alphasense-activity-7467909671517954048-Tz5R?utm_source=share&amp;utm_medium=member_desktop&amp;rcm=ACoAAAqr_94BQ2UaneCLksFmFa7oZKgC8L6yw9g\">Kokko wrote on LinkedIn<\/a>. \u201cThat\u2019s why we\u2019re seeing unprecedented demand for trusted proprietary data, domain-specific A.I., and workflows embedded directly into how enterprises operate.\u201d<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Jaakko-Kokko.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tJaakko Kokko.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of AlphaSense\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-center has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"matt-anderson\">\n\t\t\t\t\n\t\t\t\t\tMatt Anderson\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#matt-anderson\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Matt Anderson' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Partner &amp; Chief Digital Officer of Carlyle<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Matt Anderson has led numerous A.I.-driven strategic initiatives at Carlyle, bringing A.I. to the forefront of the business across several areas, including investment strategy, due diligence and A.I. transformation both internally at the firm and across Carlyle\u2019s portfolio.\u00a0<br><br>Anderson<em> <\/em>has advised senior dealmakers on deals ranging from A.I. infrastructure (data centers, power) to A.I.-led applications. Anderson has also mobilized Carlyle\u2019s data analytics team to leverage A.I. in delivering advanced diligence on healthcare, industrial, financial services and tech investments, providing differentiated insights for major transactions\u2014notably Carlyle\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.basf.com\/global\/en\/media\/news-releases\/2026\/07\/p-26-113\">late 2025 \u20ac7.7B carve-out of BASF\u2019s coatings and surface treatments businesses<\/a>. Beyond the transactional side, Anderson has driven several strategic partnerships, putting the firm at the forefront of technological change across the A.I. ecosystem.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Matt-Anderson.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMatt Anderson.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Carlyle\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"rene-haas\">\n\t\t\t\t\n\t\t\t\t\tRene Haas\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#rene-haas\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Rene Haas' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO of Arm<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Rene Haas serves as CEO of compute platform and chip designer Arm Holdings, and was recently appointed CEO of A.I. and semiconductor investment firm SoftBank Group International.\u00a0<br><br>Under Haas\u2019 leadership, Arm in March launched its first in-house data center chip, the\u00a0AGI CPU, which the company reports could save data centers up to $10 billion in capital expenditures per gigawatt of A.I. capacity. In June, Haas said he expects the firm to\u00a0hit $15 billion in in-house chip sales\u00a0ahead of schedule. Haas has spearheaded the licensing of Arm&#8217;s chip designs to giants like Nvidia, Apple, Amazon, Google and Microsoft, accounting for more than 350 billion chips worldwide.\u00a0In 2026, Arm brought in <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/eur03.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.sec.gov%2FArchives%2Fedgar%2Fdata%2F1973239%2F000197323926000097%2Farm-20260331.htm&amp;data=05%7C02%7CKristen.Ray%40arm.com%7C89280a9cdda14f4b584208dee1cfedbe%7Cf34e597957d94aaaad4db122a662184d%7C0%7C0%7C639196480530915910%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=fLk9BOkjmvM6a1PrYSXFQTf%2FADx1diYwM4p%2FPmh8h2c%3D&amp;reserved=0\">$4.92 billion in revenue<\/a>, up 23 percent year over year, including more than doubled<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.arm.com\/static-files\/78526857-5997-46eb-9b65-0d3249d83711\"> data center royalties<\/a>.\u00a0<br><br>In early 2025, Haas led the\u00a0<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/newsroom.arm.com\/blog\/arm-malaysia-silicon-vision\">company\u2019s agreement with Malaysia<\/a>\u00a0for $250 million in chip design over 10 years. The deal has since been\u00a0<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/eur03.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fwww.reuters.com%2Fworld%2Fasia-pacific%2Fmalaysia-anti-graft-agency-probing-government-deal-with-chip-firm-arm-holdings-2026-03-04%2F&amp;data=05%7C02%7CKristen.Ray%40arm.com%7C89280a9cdda14f4b584208dee1cfedbe%7Cf34e597957d94aaaad4db122a662184d%7C0%7C0%7C639196480530975907%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=2ILHH7zpdcNFrXibDDtMucJunaOJmBiauU4Asam%2F%2Fuw%3D&amp;reserved=0\">targeted by the nation\u2019s anti-corruption unit<\/a>\u00a0for fraud and corruption allegations, with proceedings underway.<br><\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Rene-Haas.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tRene Haas.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Arm\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"clement-delangue-julien-chaumond-thom-wolf\">\n\t\t\t\t\n\t\t\t\t\tCl\u00e9ment Delangue, Julien Chaumond &amp; Thom Wolf\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#clement-delangue-julien-chaumond-thom-wolf\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Cl\u00e9ment Delangue, Julien Chaumond &amp; Thom Wolf' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founders of Hugging Face<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In January, the founders of open-source A.I. platform Hugging Face\u2014Cl\u00e9ment Delangue, Julien Chaumond and Thom Wolf\u2014<a href=\"https:\/\/observer.com\/list\/clement-delangue-hugging-face-ai-power-list-interview-2026\/\">turned down a $500 million investment<\/a> from Nvidia. &#8220;We&#8217;ve taken a bit of an unconventional approach,&#8221; Delangue tells Observer, describing a company that has chosen to &#8220;self-fund our growth with our revenue&#8221; rather than raise. But the <a href=\"https:\/\/observer.com\/2026\/02\/hugging-face-monetization-chief-jeff-boudier-business-model\/\">$4.5 billion company<\/a> is still chasing momentum, with recent partnerships integrating Hugging Face into major tech solutions. In July, the team announced an integration of its open-source library for robotics, LeRobot, with <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/blogs.nvidia.com\/blog\/hugging-face-lerobot-models-frameworks-open-robotics\/\">A.I. robot development platform Nvidia Isaac<\/a>. At the same time, they launched integrations with machine learning cloud platform <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/aws.amazon.com\/blogs\/machine-learning\/from-hugging-face-to-amazon-sagemaker-studio-in-one-click-2\/\">Amazon SageMaker AI<\/a> and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.qualcomm.com\/news\/releases\/2026\/06\/qualcomm-and-hugging-face-expand-relationship-to-advance-open--d\">Qualcomm Dragonfly data center solutions<\/a>.<br><br>Delangue, Chaumond and Wolf <a href=\"https:\/\/observer.com\/2026\/07\/immigrant-ai-founders-multibillion-dollar-startup\/\">advocate for democratized A.I.<\/a> Unlike many other A.I. players, the trio runs a company that has been <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/2024\/10\/08\/hugging-face-cofounder-wolf-open-source-ai-benefits-risks\/\">profitable since at least 2024<\/a>. In June, Delangue announced that Hugging Face achieved <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/ClementDelangue\/status\/2070104323481104674\">$100 million in annual recurring revenue<\/a>. About <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/huggingface.co\/\">50,000 corporate clients<\/a> use the platform, including more than <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/huggingface.co\/blog\/huggingface\/state-of-os-hf-spring-2026\">30 percent of Fortune 500 firms<\/a> like Microsoft, Amazon and Intel.\u00a0<br><br>Delangue rejects the doom narrative around A.I. and jobs outright. &#8220;Software engineers&#8230; are more in demand than they were six months ago,&#8221; he tells Observer, arguing the technology is &#8220;replacing tasks, not jobs&#8221;\u2014and the people it does replace are those who fail to adopt it. He predicts the labor shift ahead will run in the opposite direction most people expect: not mass unemployment, but the rise of &#8220;a hundred million A.I. builders by 2028,&#8221; as software engineers and non-engineers alike absorb A.I. tools into their work. It&#8217;s a bet that tracks with his approach to monetization; Delangue says he&#8217;s comfortable capturing a fraction of the value Hugging Face&#8217;s platform generates for the broader ecosystem rather than optimizing for short-term revenue, calling it a company built for &#8220;the next 10 years,&#8221; rather than the next funding round.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Clement-Delangue-Julien-Chaumond-HUGGING-FACE.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tCle\u0301ment Delangue, Julien Chaumond and Thom Wolf.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Hugging Face\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"michael-kratsios\">\n\t\t\t\t\n\t\t\t\t\tMichael Kratsios\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#michael-kratsios\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Michael Kratsios' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Science &amp; Technology Advisor to the President of the United States<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Since 2025, <a href=\"https:\/\/observer.com\/2025\/06\/vera-c-rubin-observatory-20-years-first-images\/\">Michael Kratsios<\/a> has been spearheading policy and investment decisions in the White House as the Science &amp; Technology Advisor to the President of the United States. In May, Kratsios advocated for the creation of the National Science Foundation X-Labs, a startup-speed R&amp;D initiative backed by <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nsf.gov\/tip\/updates\/nsf-announces-15b-nsf-x-labs-initiative-pursue-generational\">$1.5 billion in government funding<\/a> over the next decade.\u00a0<br><br>Formerly the director of the White House Office of Science and Technology Policy and <a href=\"https:\/\/observer.com\/2018\/05\/trump-artificial-intelligence-council-issues\/\">chief of staff at Thiel Capital<\/a>, Kratsios\u2019 department spearheaded the June launch of the National Security Agency\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nsa.gov\/Press-Room\/Press-Releases-Statements\/Press-Release-View\/Article\/4529557\/nsa-devcom-army-research-office-launch-quantumeagle-initiative\/\">QuantumEAGLe initiative<\/a> to advance the U.S. quantum computing ecosystem, as well as the Department of Commerce\u2019s May commitment of <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nist.gov\/news-events\/news\/2026\/05\/department-commerce-announces-letters-intent-9-companies-2-billion\">$2 billion in federal incentives<\/a> to quantum companies. He <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/WHOSTP47\/status\/2074585484056199428\">orchestrated Federal agencies\u2019 transition<\/a> of critical systems to post-quantum cryptography, which the National Institute of Standards and Technology says will be complete by the end of 2027.\u00a0<br><br>In an <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/whitehouse.gov\/wp-content\/uploads\/2026\/04\/NSTM-4.pdf\">April memo<\/a>, Kratsios shared that Chinese entities were accessing proprietary information about U.S. A.I. models, adding that the Trump administration would \u201cpartner with private industry\u201d to establish best practices combatting this trend. This is already in the works, with the <a href=\"https:\/\/observer.com\/2026\/01\/amd-ceo-lisa-su-lay-out-ai-future-ces\/\">Genesis Mission<\/a>, a public-private initiative aimed at strengthening national A.I. leadership, launched in November. In a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/WHOSTP47\/status\/2074585484056199428\">July keynote<\/a>, Kratsios advocated for technology workforce development policy, but has so far not made any funding commitments.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Michael-Kratsios.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMichael Kratsios.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"cristobal-valenzuela\">\n\t\t\t\t\n\t\t\t\t\tCristo\u0301bal Valenzuela\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#cristobal-valenzuela\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Cristo\u0301bal Valenzuela' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; Co-CEO of Runway<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Crist\u00f3bal Valenzuela, co-founder and co-CEO of A.I. video generation platform Runway, is the developer behind a company now <a href=\"https:\/\/observer.com\/2026\/07\/immigrant-ai-founders-multibillion-dollar-startup\/\">valued at $5.3 billion<\/a>. Used for ads from <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"http:\/\/runwayml.com\/customers\/how-obsidian-uses-runway-to-power-campaigns-for-disney-nike-and-luxury-brands\">Louis Vuitton, Disney and Nike<\/a>, plus film studios like Lionsgate, Runway in February raised $315 million from the likes of General Atlantic, Nvidia and Adobe Ventures. This Series E funding supports Valenzuela\u2019s <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/runwayml.com\/world-simulator.html\">goal of developing world models<\/a> to simulate real-world environments for industries such as gaming and robotics.<br><br>In late 2024, Valenzuela spearheaded the launch of <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/runwayml.com\/news\/hundred-film-fund\">Runway\u2019s Hundred Film Fund<\/a>, which began with $5 million in funding and the potential to grow to $10 million, plus an additional $2 million in Runway credits, for filmmakers with A.I.-augmented film projects. That same year, his company signed a deal of undisclosed value with <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/investors.lionsgate.com\/news-events\/news\/news-details\/2024\/Runway-Partners-with-Lionsgate-in-First-of-its-Kind-AI-Collaboration\/default.aspx\">Lionsgate to train a custom model<\/a> on the studio\u2019s full library of 20,000 titles. Lionsgate expanded the partnership in June 2026, extending Runway\u2019s tools across previsualization, storyboarding and final-frame production for more of the studio\u2019s filmmakers.<br><br>In July, Runway committed an initial $30 million to a new Paris research hub focused on world models and physical A.I. and launched Runway Dev, an enterprise platform already used by teams at Adobe, ElevenLabs and Shutterstock.<br><br>Valenzuela foresees filmmakers being able to use A.I. to make 50 films for the cost of one blockbuster today. \u201cIt\u2019s a quantity problem,\u201d he said at <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=mie8KpfvU6o&amp;vl=en\">Semafor World Economy in April<\/a>.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Cristobal-Valenzuela.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tCristo\u0301bal Valenzuela\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Runway\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"eric-schmidt\">\n\t\t\t\t\n\t\t\t\t\tEric Schmidt\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#eric-schmidt\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Eric Schmidt' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder of Bolt<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Former Google CEO Eric Schmidt co-founded data center development firm Bolt after concluding that \u201c<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/fortune.com\/2026\/01\/02\/eric-schmidt-ai-data-centers-bolt-texas-pacific-land-tpl\/\">energy is the main constraint in scaling A.I.<\/a>\u201d In December 2025, Texas Pacific Land Corporation invested <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/therealdeal.com\/texas\/2025\/12\/18\/eric-schmidt-backed-firm-teams-up-with-texas-pacific\/\">$50 million<\/a> in Bolt, receiving an equity stake, warrants and long-term water rights as the companies partnered to build large-scale A.I. infrastructure across West Texas. To date, Bolt has raised about <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.texaspacific.com\/investors\/news-events\/press-releases\/detail\/176\/bolt-and-tpl-announce-strategic-agreement-to-pursue-data\">$150 million<\/a> in funding. Schmidt, who serves as Bolt&#8217;s chairman, said the company aims to combine power generation, land, water and data centers into &#8220;<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1811074\/000110465925121822\/tm2533707d1_ex99-1.htm\">the largest<\/a> and most efficient data center company in the world.\u201d<br><br>In February 2026, Bolt was reportedly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businessinsider.com\/eric-schmnidt-data-center-firm-negotiating-texas-deal-with-google-2026-2\">negotiating a deal<\/a> with Google to build its first West Texas campus with an initial commitment of approximately 250 megawatts, with plans to expand the site into a 5-gigawatt campus. The project reflects the growing competition among technology companies to secure dedicated power and land for frontier A.I. infrastructure.<br><br>Schmidt also expanded his footprint into defense technology. In April 2026, Romania reportedly prepared to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/romania-tests-ai-powered-drone-interceptors-ukraine-war-gets-closer-2026-04-24\/\">deploy Merops drone interceptors<\/a> developed by Project Eagle, the defense company founded by Schmidt. Two days prior, U.S. forces had reportedly used the same interceptors at <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/us-turns-ukrainian-counter-drone-tech-after-iran-attacks-sources-say-2026-04-22\/\">Prince Sultan Air Base<\/a> in Saudi Arabia as part of new counter-drone defenses.\u00a0<br><br>On July 13, Schmidt was among the tech leaders who signed <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nytimes.com\/2026\/07\/13\/business\/economists-ai-threat-jobs.html?eafs_enabled=false\">a letter warning of A.I. threats<\/a> to the economy and urging policymakers to do more.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Eric-Schmidt.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tEric Schmidt.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"ravi-mhatre\">\n\t\t\t\t\n\t\t\t\t\tRavi Mhatre\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#ravi-mhatre\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Ravi Mhatre' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\tLightspeed Venture Partners\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">First entering A.I. back in 2012, Lightspeed Venture Partners has since invested more than $5.5 billion across 165 A.I.-native startups. As co-founder and partner, Ravi Mhatre has helped raise $9 billion across six funds. This past year, he has extended Lightspeed\u2019s reach deeper into the tech, leaning on a record of fundraising and exits that have made the venture firm one of Silicon Valley\u2019s most durable tech backers.\u00a0<br><br>Lightspeed is behind several of the tech IPOs that defined the last two years, including Rubrik, Netskope and Navan, three of the most significant public offerings in 2024 and 2025. One of Lightspeed\u2019s most notable bets is France\u2019s Mistral AI. The venture firm led the startup\u2019s $114 million seed round in June 2023 at a $260 million valuation. The company\u2019s private-market valuation has since <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/techcrunch.com\/2026\/06\/12\/mistral-is-rumored-to-be-raising-e3b-at-e20-valuation\/\">soared to over $23 billion<\/a>, potentially giving Lightspeed an enormous windfall in the event of an exit.\u00a0<br><br>The son of an Indian immigrant, Mhatre also sees India as an increasingly important market. Nearly 60 percent of Lightspeed\u2019s India investments now go to A.I.-native startups, including Sarvam AI, a Bengaluru-based \u201csovereign AI\u201d company building conversational tools for Indian languages and local use cases.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Ravi-Mhatre.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tRavi Mhatre.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"tuhin-srivastava\">\n\t\t\t\t\n\t\t\t\t\tTuhin Srivastava\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#tuhin-srivastava\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Tuhin Srivastava' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of Baseten<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In 2026, inference economics supplanted foundational model training as the defining capital battleground of the A.I. race. <a target=\"_blank\" target=\"_blank\" href=\"https:\/\/www.baseten.co\/blog\/announcing-our-series-f\/\" target=\"_blank\" rel=\"noreferrer noopener\">Baseten\u00a0raised a $1.5B series F at a $13B valuation<\/a>\u00a0in June,\u00a0led by Altimeter Capital, Conviction Partners and Spark Capital, co-led by Sands Capital and Wellington Management, with participation from Battery Ventures, Blackbird, D.E. Shaw Ventures, Durable Capital Partners, Greylock, IVP, Verified Capital and 01A. As a crucial intermediary between the major labs and the estimated <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.abiresearch.com\/news-resources\/chart-data\/report-artificial-intelligence-market-size-global\">$467 billion<\/a> A.I. application market, Baseten&#8217;s annualized revenue surged past <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.theinformation.com\/articles\/ai-inference-provider-baseten-talks-raise-1-billion-11-billion-valuation\">$600 million<\/a> (up from $200 million just months prior), and is expected to exceed <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/finance.biggo.com\/news\/1157f4dd5b77b66a\">$1 billion<\/a> before the end of the year.<br><br>Running the mission-critical production workloads for hyper-scale AI-native products like <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.baseten.co\/resources\/customers\/\">Cursor, Notion, Abridge, and Clay<\/a>, Baseten entered blockbuster talks to raise a fresh <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.theinformation.com\/articles\/ai-inference-provider-baseten-talks-raise-1-billion-11-billion-valuation\">$1 billion mega-round<\/a> targeting an $11 billion valuation, adding to the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20260123035833\/en\/Baseten-Raises-%24300M-at-a-%245B-Valuation-to-Power-a-Multi-Model-Future\">$585 million<\/a> in investments the firm has already closed. Inference is on track to represent <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/deloitte.wsj.com\/riskandcompliance\/why-ais-next-phase-will-likely-demand-more-computing-powernot-less-b327d666\">two-thirds<\/a> of all global AI compute demand by the end of the year. Founded in 2019, Srivastava\u2019s Baseten is now positioned to become the \u201c<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.axios.com\/pro\/enterprise-software-deals\/2026\/01\/29\/baseten-acquisitions-ai-inference\">AWS of inference<\/a>\u201d and deliver critical efficiencies for the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.technavio.com\/report\/ai-app-market-industry-analysis\">thousands of A.I. applications<\/a> that are expected to enter the market in the coming years. <\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Tuhin-Srivastava.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tTuhin Srivastava.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-center has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"fei-fei-li\">\n\t\t\t\t\n\t\t\t\t\tFei-Fei Li\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#fei-fei-li\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Fei-Fei Li' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder &amp; CEO of World Labs<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Fei-Fei Li, Stanford&#8217;s Sequoia Professor and former Chief Scientist of A.I. at Google Cloud, built ImageNet, the dataset that sparked the deep learning era. World Labs, her spatial intelligence startup, is betting the next era belongs to world models \u2014 A.I. systems that generate persistent, navigable 3D environments rather than flat text and images.<br><br>Andreessen Horowitz backed the $230 million seed in 2024; Autodesk&#8217;s $200 million commitment anchored the $1 billion Series B in February 2026, with AMD, Nvidia, Fidelity and Emerson Collective joining \u2014 $1.23 billion total at a reported $5 billion valuation and one of the largest financings behind the world-model thesis.<br><br>World Labs shipped Marble, its world model, in November 2025. Magnific, a creative platform with millions of daily users, built 3D Scenes on it, allowing non-specialists to generate production-ready 3D environments in minutes. Marble also runs in Nvidia Isaac Sim and MuJoCo for robot training, cutting environment curation time by more than 90 percent.<br><br>On June 3, Li published &#8220;A Functional Taxonomy of World Models,&#8221; sorting the field into renderers, simulators and planners. Few people influence a category&#8217;s capital, technical direction and vocabulary simultaneously. Li now does.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Fei-Fei-Li.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tFei-Fei Li.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"lin-qiao\">\n\t\t\t\t\n\t\t\t\t\tLin Qiao\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#lin-qiao\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Lin Qiao' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of Fireworks<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">While much of the A.I. industry is focused on training larger models, Lin Qiao is focused on the infrastructure that serves them. In October 2025, Fireworks AI raised $250 million in Series C funding at a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.wsj.com\/articles\/ai-inference-startup-fireworks-ai-is-valued-at-4-billion-in-funding-round-758885c8\">$4 billion valuation<\/a>, led by Lightspeed Venture Partners, Index Ventures and EVANTIC, with backing from Sequoia Capital, Benchmark, Nvidia and AMD. Less than a year later, the company was reportedly in talks to raise another round at a<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/sacra.com\/c\/fireworks-ai\/\"> $15 billion post-money valuation<\/a>, with Index Ventures expected to co-lead. This week, Fireworks announced its $1.5 billion Series D at a $17.5 billion valuation and hit $1 billion in annualized recurring revenue. (Fireworks reached <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/digg.com\/tech\/pxkresv0\">$800 million in annualized revenue<\/a> in May, up from roughly $305 million at the end of 2025.)<br><br>Fireworks&#8217; customer base grew from roughly 1,000 companies to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/sacra.com\/c\/fireworks-ai\/\">more than 10,000<\/a> between its Series B and Series C rounds. Customers include Cursor, Perplexity, Notion, Sourcegraph, Uber, DoorDash, Shopify and Upwork, supporting applications ranging from coding assistants and enterprise search to conversational A.I. and agentic workflows. Companies use the platform to customize and optimize open-source models\u2014Cursor runs Composer 2 on Fireworks, Vercel built a custom model for its v0 web development assistant and Harvey customized GLM 5.1 to match GPT-5.5&#8217;s benchmark score at one-fifth the cost.<br><br>The platform processes 40 trillion tokens per day, with 286,000 requests per second. In June 2026, Microsoft named Fireworks a preferred inference and optimization partner for its MAI reasoning models and made the platform generally available through Microsoft Foundry.<\/p>\n\t\t\t\n\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__cta__wrapper\" data-purpose=\"cta\">\n\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/observer.com\/2026\/07\/lin-qiaos-fireworks-ai-bets-on-specialized-models-over-general-a-i-hype\/\" data-purpose=\"cta\" class=\"wp-block-observer-listicle__cta\" target=\"_blank\"  rel=\"noopener\">\n\t\t\t\t\t\tRead Our Interview With Lin Qiao\t\t\t\t\t<\/a>\n\t\t\t\t<\/p>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Lin-Qiao.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tLin Qiao.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Fireworks\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"palmer-luckey\">\n\t\t\t\t\n\t\t\t\t\tPalmer Luckey\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#palmer-luckey\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Palmer Luckey' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder of Anduril Industries<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Palmer Luckey sold Oculus to Facebook for $2.3 billion in 2014, at age 21, was fired in 2017 and channeled the capital and the grievance into Anduril, a defense technology company built on one thesis: that Pentagon procurement was too slow and too captured by legacy contractors to compete in the A.I. era.<br><br>Luckey&#8217;s diagnosis of the problem is specific. &#8220;A Tesla has better A.I. than any U.S. aircraft,&#8221; he told CBS in 2025, &#8220;and a Roomba vacuum has better autonomy than most of the Pentagon&#8217;s weapons systems.&#8221; That indictment is the business case. Anduril is building what the military is missing: A.I.-governed autonomous weapons at commercial development speed. At the center is Lattice, Anduril&#8217;s sovereign command platform, which integrates sensor data from drones, submarines and fighter jets into a unified picture for human operators. The U.K. Ministry of Defence, Australian Defence Force and U.S. Special Operations Command are all customers.<br><br>A.I.-governed autonomous weapons are now a standard procurement category in U.S. and allied military planning. Luckey made them that way. In March 2026, the U.S. Army awarded Anduril a 10-year enterprise contract worth up to $20 billion, consolidating more than 120 separate procurement actions into one framework\u2014the largest defense tech contract in history. On May 13, 2026, Thrive Capital and Andreessen Horowitz led a $5 billion funding round that doubled its previous valuation to $61 billion. The company has raised $6.26 billion in total funding since 2017. Revenue more than doubled to $2.2 billion in 2025, up 110 percent year-on-year. Anduril projects revenue to double again in 2026 to $4.3 billion, driven by Arsenal-1, a weapons manufacturing campus scaling in Ohio. Vice President JD Vance disclosed a stake worth between $1,000 and $15,000, dating to his time as a venture investor before he entered politics.\u00a0<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Palmer-Luckey.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tPalmer Luckey.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"joe-lonsdale\">\n\t\t\t\t\n\t\t\t\t\tJoe Lonsdale\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#joe-lonsdale\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Joe Lonsdale' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founder of Palantir<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Palantir co-founder Joe Lonsdale closed 8VC&#8217;s seventh flagship fund at <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.everythingstartups.com\/vc-funds\/8vc\">$1.5 billion in July 2026<\/a>, the firm&#8217;s largest to date, following $998 million for Fund VI and $880 million for Fund V. The new fund is built around what Lonsdale calls the &#8220;American A.I. Industrial Revolution,&#8221; targeting productivity software, manufacturing, defense and healthcare. Roughly 25 to 30 percent of the fund is reserved for 8VC&#8217;s Build Program, the firm&#8217;s internal venture studio that develops companies before they formally launch.\u00a0<br><br>The Build Program has launched companies including Saronic, Epirus and Resilience, with Lonsdale personally involved in shaping each company&#8217;s thesis and strategy. Resilience raised $800 million after being created through the venture studio, while defense startup Saronic, another Build company, raised $1.75 billion in March at a $9.25 billion valuation, one of the largest defense technology financings on record. In February, 8VC also led a $100<a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/CUAS_NEWS\/status\/2018754487079370824\"> million round for Overland AI<\/a>, an autonomous ground vehicle company developing software for military applications.\u00a0<br><br>8VC now manages more than $6 billion in assets, writing checks from $500,000 seed investments to $50 million growth rounds, with those dollars flowing toward A.I. companies building autonomous systems, industrial software and defense infrastructure. &#8220;The summer of 2026 is shaping up to be one of the great American wealth-creation moments: SpaceX, AI, and a generation of companies built in genuinely twenty-first-century ways are minting great fortunes for individuals, and for our country,&#8221; Lonsdale recently wrote on his Substack. &#8220;A lot of people are about to become very rich because they bet on new models, new institutions, new ways of organizing talent and risk.&#8221;<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Joe-Lonsdale.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"guillaume-lample-timothee-lacroix-arthur-mensch\">\n\t\t\t\t\n\t\t\t\t\tGuillaume Lample, Timoth\u00e9e Lacroix &amp; Arthur Mensch\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#guillaume-lample-timothee-lacroix-arthur-mensch\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Guillaume Lample, Timoth\u00e9e Lacroix &amp; Arthur Mensch' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founders of Mistral<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Arthur Mensch spent three years at Google DeepMind Paris, contributing to Flamingo and Gemini, the lab&#8217;s frontier multimodal models. He left in 2023 to co-found Mistral with Guillaume Lample and Timoth\u00e9e Lacroix, both veterans of Meta&#8217;s LLaMA team. Semiconductor equipment giant ASML anchored Mistral&#8217;s \u20ac1.7 billion Series C in September 2025, taking an 11 percent stake and driving Mistral\u2019s valuation to \u20ac11.7 billion (~$14 billion USD)\u2014establishing it as Europe\u2019s highest A.I. valuation. Mistral secured a historic\u00a0 $830 million debt financing round in March from a consortium of European banks. The capital funds a sovereign data center near Paris running 13,800 Nvidia GB300 chips. The facility goes live in mid-2026 at 44 megawatts, anchoring a broader roadmap to command 200 MW of independent European compute capacity by 2027.\u00a0<br><br>By early 2026, Mistral\u2019s annualized recurring revenue hit $400 million\u2014a staggering twentyfold increase year-over-year\u2014with a clear path toward surpassing $1 billion. Sixty percent of that revenue originates in Europe, driven by enterprise clients like HSBC, Tesco, CMA CGM and BMW. In January, France&#8217;s Ministry of the Armed Forces awarded Mistral a sweeping framework agreement to deploy A.I. across its defense and energy sectors. A joint public-private partnership between France, Germany, Mistral and SAP immediately followed to digitize public administration, with Singapore\u2019s military, Greece and Luxembourg rapidly joining the procurement pipeline.\u00a0<br><br>At a parliamentary hearing in May, Mensch issued a stark warning: \u201cEurope must build its own A.I. infrastructure within the next two years, or face becoming a vassal state to American compute.\u201d Through open weights and sovereign data centers, Mensch has officially turned Sovereign A.I. into a permanent global procurement category.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Mistral.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tGetty Images\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"piotr-dabkowski-mati-staniszewski\">\n\t\t\t\t\n\t\t\t\t\t<strong>Piotr D\u0105bkowski &amp; Mati Staniszewski<\/strong>\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#piotr-dabkowski-mati-staniszewski\"\n\t\t\t\t\t\taria-label=\"Copy link to '&lt;strong&gt;Piotr D\u0105bkowski &amp; Mati Staniszewski&lt;\/strong&gt;' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\tCo-<strong>Founders of ElevenLabs<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">As <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/pitchbook.com\/profiles\/company\/509315-23\">Europe\u2019s third-largest A.I. unicorn<\/a>, Piotr D\u0105bkowski and Mati Staniszewski\u2019s<strong> <\/strong>ElevenLabs helps dispel claims that the continent is lagging in the A.I. industrial footrace. In early 2025, the London-based venture <a href=\"https:\/\/observer.com\/2025\/01\/ai-voice-startup-elevenlabs-fundraising\/\">tripled its valuation<\/a> to $3.3 billion. In early 2026, it once again <a href=\"https:\/\/observer.com\/2026\/02\/mati-staniszewski-and-piotr-dabkowski-triple-elevenlabs-valuation-to-11-billion-solidifying-their-grip-on-a-i-voice\/\">tripled its valuation<\/a> to over $11 billion with its series D. That same quarter, Staniszewski became a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/profile\/mati-staniszewski\/\">verified billionaire<\/a> at age 30.<br><br>By July, ElevenLabs was reportedly exploring an employee share sale at a valuation of approximately $22 billion, potentially doubling its implied value within five months. The proposed secondary transaction would provide liquidity to employees rather than raise additional operating capital.<br><br>D\u0105bkowski and Staniszewski co-founded their A.I. voice-generation company when leading labs like OpenAI and Anthropic did not have a presence in the space. Now the big labs are <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.nytimes.com\/2026\/05\/15\/technology\/openai-weightsgg-voice-cloning.html\">investing<\/a> <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.wired.com\/story\/opal-electronics-openai-investment-ai-powered-audio-gadget\/\">tens of millions<\/a> to catch up to ElevenLab\u2019s benchmarks. Today, ElevenLabs offers programs in over <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/help.elevenlabs.io\/hc\/en-us\/articles\/13313366263441-What-languages-do-you-support\">70 languages<\/a>, with services including film dubbing and customer support, supported by <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/x.com\/ElevenLabs\/status\/2021237336793657447\">industry-leading features<\/a> that enabled the company to reach <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/elevenlabs.io\/blog\/500m-arr-and-new-investors\">$500 million<\/a> in Annual Recurring Revenue (ARR) in May.<br><br>ElevenLab\u2019s enterprise clients include not only Nvidia, Salesforce and Meta, but also <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/elevenlabs.io\/blog\/voice-ai-for-greece\">the governments<\/a> of Ukraine, Greece and the Czech Republic, to support their federal services. Recent contracts with <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/elevenlabs.io\/blog\/elevenlabs-welcomes-matthew-mcconaughey-as-new-investor\">Matthew McConaughey<\/a> and toy-maker <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/elevenlabs.io\/blog\/hasbro\">Hasbro<\/a> highlight D\u0105bkowski and Staniszewski\u2019s ability to navigate their company around murky legal and ethical territory, and remain a precedent-setter in one of the fastest-growing nodes of the A.I. economy.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Piotr-Dabkowski-Mati-Staniszewski.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tPiotr D\u0105bkowski and Mati Staniszewski.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of ElevenLabs\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"parminder-bhatia\">\n\t\t\t\t\n\t\t\t\t\tParminder Bhatia\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#parminder-bhatia\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Parminder Bhatia' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>SVP of A.I. for Edwards Lifesciences<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In July, Parminder Bhatia joined Edwards Lifesciences as senior vice president of A.I., heading the company\u2019s enterprise-wide A.I. strategy. Bhatia was previously GE Healthcare\u2019s first chief A.I. officer, helping expand its portfolio to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.linkedin.com\/posts\/gehealthcare_ge-healthcare-is-proud-to-lead-the-fdas-activity-7477724703932157952-qYfC\">132 FDA-listed A.I.-enabled device authorizations<\/a>, more than any other medtech company and the fifth consecutive year GE HealthCare has led the category.\u00a0<br><br>Bhatia also led GE Healthcare\u2019s A.I. Innovation Lab, which developed one of the industry\u2019s first three-dimensional MRI foundation models. By 2025, the model had been trained on <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.gehealthcare.com\/en-us\/about\/newsroom\/press-releases\/ge-healthcare-unveils-2025-ai-innovation-lab-research-projects-aimed-at-accelerating-healthcare-solutions\">more than 200,000 MRI images from more than 20,000 studies<\/a>, with Mass General Brigham and the University of Wisconsin-Madison helping fine-tune it for specific clinical uses. In February, Bhatia secured another win for the company, which won a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.gehealthcare.com\/en-us\/about\/newsroom\/press-releases\/ge-healthcare-builds-on-barda-collaboration-with-approximately-35-million-expansion-to-advance-artificial-intelligence-powered-ultrasound-for-trauma-care-and-emergency-preparedness\">$35 million U.S. government contract<\/a> expansion to develop new A.I.-enabled ultrasound technology. Bhatia\u2019s leadership helped the healthcare industry progress towards <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/research.gehealthcare.com\/wp-content\/uploads\/2025\/10\/Agents-of-change-Exploring-the-next-era-of-AI-in-healthcare-1.pdf\">multi-agent collaboration<\/a>, with a central virtual physician working alongside specialized agents in radiology, pathology, clinical data and more. This system is currently under evaluation in research environments, with GE HealthCare seeking to replicate the reasoning of a human multidisciplinary care team. Across Bhatia\u2019s A.I. initiatives, strategic partners Nvidia, AWS, NXP Semiconductors and more have strengthened influence.\u00a0<br><br>At Edwards, Bhatia is moving from diagnostic imaging into cardiovascular therapies. The company is building an <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.edwards.com\/job\/48987\/senior-data-scientist\">A.I., Product and Platforms organization<\/a> for implantable heart-failure management while hiring teams to develop regulated machine-learning products and <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.edwards.com\/job\/47542\/architect-it-solutions-copilot-agentic-ai-platforms\">scale Microsoft Copilot, Moveworks and other agentic systems<\/a> across the enterprise. Edwards spent <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/s27.q4cdn.com\/788244549\/files\/doc_financials\/2025\/ar\/38094_010_Web_BMK1.pdf\">$1.079 billion, or 17.8 percent of sales, on R&amp;D in 2025<\/a> and another $263 million in the first quarter of 2026, although it has not said how much is dedicated specifically to A.I. Bhatia\u2019s new role puts him in position to direct part of that capital and technical workforce toward A.I.-enabled cardiovascular care.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/07\/Parminder-Bhatia.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tParminder Bhatia.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Parminder Bhatia\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"laurel-taylor\">\n\t\t\t\t\n\t\t\t\t\tLaurel Taylor\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#laurel-taylor\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Laurel Taylor' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Founder &amp; CEO of Candidly<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">In March, Candidly <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20260310052947\/en\/Candidly-Sells-College-Finance-Marketplace-Accelerates-AI-Expansion\">offloaded its private student loan marketplace subsidiary<\/a> to Nerdwallet for $18.8 million. Doing so afforded Laurel Taylor, the company\u2019s founder and CEO, the opportunity to hone Candidly\u2019s focus on agentic A.I. technology.\u00a0 &#8220;The sale was also a straightforward capital arbitrage,\u201d Taylor tells Observer. \u201cRedeploying the proceeds into the part of our business with the strongest revenue multiple.&#8221;\u00a0<br><br>Three years ago, Candidly was valued at $150 million. Last year, the student debt and savings optimization platform reported $2.3 billion in student debt impact and $66 million in additional retirement <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/getcandidly.com\/2025-candidly-impact-report\/\">savings to date<\/a>.<br><br>In early July, Candidly\u2014a World Economic Forum 2025 <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.businesswire.com\/news\/home\/20250624923095\/en\/Candidly-Named-a-2025-Technology-Pioneer-by-the-World-Economic-Forum\">Technology Pioneer<\/a>\u2014rolled out a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/getcandidly.com\/candidly-expands-its-composable-stack-of-ai-agents-with-six-new-capabilities-including-guidance-for-trump-accounts\/\">suite of A.I. agents<\/a>, which provide guidance for Trump accounts, retirement plans, real-time budgeting and employer equity plans, among others. This release is in addition to last year\u2019s launch of Cait, Candidly\u2019s A.I. chat assistant for financial planning. Taylor in February announced the company <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.linkedin.com\/posts\/ltmit_its-that-time-candidlys-2025-annual-ugcPost-7425211158699134976-84kD\/\">facilitated $73.2 million<\/a> in student loan employer contributions in 2025 for partners like Vanguard, Charles Schwab, Bank of America, Empower, Lincoln Financial Group and TIAA Financial Services.<br><br>&#8220;A foundation model can answer a 401(k) question for free, but it can&#8217;t answer it against the end user data held by the provider,\u201d Taylor tells Observer, warning that legacy platforms risk losing customers if they don\u2019t swiftly adopt smart agents. \u201cThe same model that produces a confident, fluent answer to a general question produces a confident, fluent answer when it&#8217;s wrong, too\u2014and there&#8217;s usually no reliable way for the person asking to tell the difference.\u201d<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Laurel-Taylor.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tLaurel Taylor.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of Candidly\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-right wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"minna-song-stoyan-tony-stoyanov\">\n\t\t\t\t\n\t\t\t\t\tMinna Song &amp; Stoyan (Tony) Stoyanov\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#minna-song-stoyan-tony-stoyanov\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Minna Song &amp; Stoyan (Tony) Stoyanov' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>Co-Founders of EliseAI<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">Minna Song and Tony Stoyanov spent <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.linkedin.com\/posts\/minna-song_im-grateful-we-didnt-raise-venture-capital-activity-7467951517187248129-HwBT\/\">two years<\/a> bootstrapping EliseAI before anyone handed them a check. Now EliseAI is a <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.forbes.com\/sites\/rashishrivastava\/2026\/06\/10\/this-22-billion-ai-startup-is-helping-the-countrys-largest-landlords-with-admin-work\/\">$2.2 billion<\/a> company that just doubled its annual recurring revenue to <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/finance.yahoo.com\/sectors\/healthcare\/articles\/eliseai-hits-200m-arr-five-123000454.html\">more than $200 million<\/a> by June 2026\u2014five consecutive years of triple-digit growth\u2014on the strength of an August 2025 Series E that brought in <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/eliseai.com\/blog\/eliseai-raises-250m-series-e\">$250 million<\/a>, led by Andreessen Horowitz with Bessemer Venture Partners, Sapphire Ventures and Navitas along for the ride. The company had already cleared <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/eliseai.com\/blog\/eliseai-raises-250m-series-e\">$100 million<\/a> in ARR before that round closed.<br><br>The company now powers one in six apartments across the U.S. and serves 75 percent of the <a target=\"_blank\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/therealdeal.com\/sponsored\/eliseai\/introducing-eliseai-the-solution-helping-nmhc-top-50-operators-increase-occupancy-by-2-vs-market-averages\/\">NMHC Top 50<\/a> operators. In July, EliseAI reported that customers implementing centralized operating models had generated a $380 annual NOI lift per unit, alongside a 1.2 percent increase in occupancy and collection gains of 200 to 300 basis points. Song and Stoyanov have spent 2026 pushing hard into healthcare, where its platform automates scheduling, prior authorizations and billing\u2014and claims to reduce overhead costs by as much as 25 percent for providers.<br><br>\u201cIf EliseAI succeeds at everything we\u2019re setting out to do, renting an apartment or navigating healthcare in this country will feel dramatically simpler five years from now,\u201d Song tells Observer. &#8220;The goal isn&#8217;t that people notice A.I. more, it&#8217;s that they notice friction less.&#8221;\u00a0<br><br><br><\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Minna-Song-Stoyan-Tony-Stoyanov.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMinna Song &amp; Stoyan (Tony) Stoyanov.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tCourtesy of EliseAI\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n<section class=\"wp-block-observer-listicle wp-block-observer-listicle--align-left wp-block-observer-listicle--vertical-top has-image\">\n\t<div class=\"wp-block-observer-listicle__container\">\n\t\t<div class=\"wp-block-observer-listicle__text\">\n\t\t\t<h2 class=\"wp-block-observer-listicle__title h3\" id=\"malte-kosub\">\n\t\t\t\t\n\t\t\t\t\tMalte Kosub\n\t\t\t\t\t\t\t\t\t<button\n\t\t\t\t\t\tclass=\"wp-block-observer-listicle__copy-button copy-to-clipboard\"\n\t\t\t\t\t\taria-hidden=\"true\"\n\t\t\t\t\t\tdata-tooltip-text=\"Copied to clipboard!\"\n\t\t\t\t\t\tdata-clipboard-text=\"https:\/\/observer.com\/list\/2026-ai-power-index\/#malte-kosub\"\n\t\t\t\t\t\taria-label=\"Copy link to 'Malte Kosub' to the clipboard\">\n\t\t\t\t\t<svg width=\"22\" height=\"22\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 20 20\">\n\t\t\t\t\t\t<path d=\"M12.763 7.4a.79.79 0 0 1 .175.87.807.807 0 0 1-.64.485l-.107.007a.809.809 0 0 1-.571-.233 3.266 3.266 0 0 0-4.423-.138l-.147.139-4.52 4.458-.122.13c-1.108 1.235-1.066 3.199.128 4.378 1.239 1.223 3.332 1.223 4.571 0l2.523-2.49a.815.815 0 0 1 .788-.223.803.803 0 0 1 .58.572.791.791 0 0 1-.226.779l-2.523 2.49c-.867.856-2.013 1.314-3.177 1.37l-.25.006c-1.25 0-2.499-.459-3.428-1.376-1.8-1.776-1.857-4.74-.17-6.592l.17-.177L5.906 7.4a4.897 4.897 0 0 1 6.856 0Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t\t<path d=\"M18.606 1.376c1.804 1.78 1.857 4.753.159 6.604l-.168.171-4.504 4.45A4.867 4.867 0 0 1 10.665 14a4.866 4.866 0 0 1-3.428-1.4.79.79 0 0 1 0-1.127.816.816 0 0 1 1.142 0 3.267 3.267 0 0 0 4.422.137l.148-.138 4.514-4.457c1.239-1.221 1.239-3.289 0-4.511-1.192-1.177-3.178-1.22-4.43-.131l-.14.13-2.524 2.492a.814.814 0 0 1-.466.227l-.107.006-.106-.006a.807.807 0 0 1-.64-.486.79.79 0 0 1 .176-.87l2.532-2.499.16-.148c1.874-1.676 4.884-1.624 6.688.157Z\"\n\t\t\t\t\t\t\t  fill=\"currentColor\"\/>\n\t\t\t\t\t<\/svg>\n\t\t\t\t<\/button>\n\t\t\t<\/h2>\n\t\t\t\t\t\t\t<ul class=\"wp-block-observer-listicle__subtitle-list\">\n\t\t\t\t\t\t\t\t\t\t\t<li class=\"wp-block-observer-listicle__subtitle-element\">\n\t\t\t\t\t\t\t<strong>CEO &amp; Co-Founder of Parloa<\/strong>\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t\t\t\t\t<p class=\"wp-block-observer-listicle__copy\">&#8220;In the end, it is one of the biggest opportunities that has ever existed in software,&#8221; Malte Kosub told TechCrunch on January 15, 2026, the day he closed Parloa&#8217;s $350 million Series D at a $3 billion valuation. This market employs approximately 17 million human agents worldwide\u2014people whose jobs consist entirely of answering customer calls, resolving queries and handling complaints. At Davos in January 2026, Kosub told the forum he intended to build a $100 billion company in Germany.<br><br>Kosub co-founded Parloa in Berlin in 2018 with Stefan Ostwald. The company&#8217;s Agent Management Platform gives enterprises the tools to build, train and deploy A.I. agents that handle customer service calls, chats and messages\u2014voice first, because enterprise contact center volume still runs predominantly on phone calls. Allianz, Booking.com, HealthEquity, SAP and Swiss Life have been answering customer calls through Parloa agents. Parloa has reached $50 million in annual recurring revenue by late 2025.<br><br>General Catalyst led the $120 million Series C in May 2025 at a $1 billion valuation, then led the $350 million Series D in January 2026 at $3 billion\u2014triple the Series C price in seven months. Total raised in less than four years: more than $560 million. Sierra, co-founded by OpenAI chairman Bret Taylor, raised $350 million at a $10 billion valuation in September 2025 targeting the same market. General Catalyst, which has visibility into that competitive landscape, led the Parloa Series D regardless.<\/p>\n\t\t\t\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<figure class=\"wp-block-observer-listicle__image\">\n\t\t\t\t<div class=\"wp-block-observer-listicle__image__wrapper\">\n\t\t\t\t\t<img\n\t\t\t\t\t\t\tsrc=\"https:\/\/observer.com\/wp-content\/uploads\/sites\/2\/2026\/06\/Malte-Kosub.png?w=970&#038;quality=80\"\n\t\t\t\t\t\t\talt=\"\"\n\t\t\t\t\t\t\tloading=\"lazy\"\n\t\t\t\t\t\t\tdecoding=\"async\"\n\t\t\t\t\t\/>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<figcaption class=\"wp-block-observer-listicle__image__caption\">\n\t\t\t\t\t\tMalte Kosub.\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"wp-block-observer-listicle__image__credit\">\n\t\t\t\t\t\t\t\tSam Forthofer, Courtesy of Parloa\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t<\/figcaption>\n\t\t\t\t\t\t\t<\/figure>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Power in artificial intelligence no longer moves through the channels everyone learned to watch.<\/p>\n <a class=\"moretag\" href=\"https:\/\/observer.com\/list\/2026-ai-power-index\/\">Read More<\/a>","protected":false},"author":177935303,"featured_media":1669590,"template":"","meta":{"_acf_changed":false,"apple_news_api_created_at":"2026-07-15T22:23:38Z","apple_news_api_id":"b2d8739c-f642-4d66-8286-ba4ff9205363","apple_news_api_modified_at":"2026-07-16T14:11:17Z","apple_news_api_revision":"AAAAAAAAAAAAAAAAAAAAAw==","apple_news_api_share_url":"https:\/\/apple.news\/AsthznPZCTWaChrpP-SBTYw","apple_news_cover_media_provider":"image","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_cover_video_id":0,"apple_news_cover_video_url":"","apple_news_cover_embedwebvideo_url":"","apple_news_is_hidden":"","apple_news_is_paid":"","apple_news_is_preview":"","apple_news_is_sponsored":"","apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"","apple_news_slug":"","apple_news_sections":[],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"post_tag":[423995430,424016555,423867451,424016323],"company":[424016554,423808292,424016544,423974037,423806837,423976109,424016541,22350935,423997248,423975525,424016548,423976740,424016536,423975124,423975684,423807908,424016538,424016546,423975122,424016540,424001827,423980865,424016537,424016547,423986809,423977341,424007990,424016549,423985406,423991663,423975347,424016542,424016543,423982774,424016550,424016539,424016551,423985134,424001697,81,423997483,423996440,423976746,424001816,32744,424001834,423832968,935716,424001065,424001977,171,423974576,423985914,35186,423954278,423981994,423975251,424007110,423986463,423985591,423975614,423976742,424016552,424016553,423975649,423986869,423988591,80998,424016244,374837,371748,423793997,424010593,424001952,424015900,423992728,18996,423985386,423989758,423977652],"channel":[423972337,424015910,186,423875666,12374,423806427,32984488],"location":[],"nyo_column":[],"person":[341024,1244446,5504308,17921421,423884107,423885957,423886700,423888521,423888700,423888988,423889217,423889744,423894267,423894428,423894479,423895022,423895455,423895646,423896159,423900880,423901442,423920172,423927660,423928783,423930804,423931067,423933598,423940434,423947552,423949653,423950202,423951081,423954094,423954492,423955074,423955385,423955591,423958713,423963226,423964733,423976108,423976253,423976431,423976744,423976745,423977071,423977898,423977923,423979017,423979585,423985395,423985599,423986813,423987192,423987193,423987202,423987203,423987270,423988538,423990446,423990579,423991664,423995924,423996409,424001414,424001779,424001785,424001795,424001800,424001811,424001814,424002011,424002741,424003522,424004428,424005286,424006559,424006928,424007111,424011559,424015897,424016299,424016366,424016368,424016433,424016434,424016435,424016436,424016437,424016439,424016440,424016441,424016442,424016444,424016445,424016556,424016557,424016558,424016559,424016560,424016561,424016562,424016443],"coauthors":[698157],"class_list":{"0":"post-1666777","1":"listicle","2":"type-listicle","3":"status-publish","4":"has-post-thumbnail","6":"tag-agentic-ai","7":"tag-agentic-commerce","8":"tag-ipos","9":"tag-the-new-power-class-weekly-features","10":"observer_company-8vc","11":"observer_company-alphabet","12":"observer_company-alphasense","13":"observer_company-altimeter-capital","14":"observer_company-amazon","15":"observer_company-amd","16":"observer_company-american-electric-power","17":"observer_company-andreessen-horowitz","18":"observer_company-anduril","19":"observer_company-anthropic","20":"observer_company-anysphere","21":"observer_company-arm","22":"observer_company-basten","23":"observer_company-blackrock","24":"observer_company-blackstone","25":"observer_company-bloomberg","26":"observer_company-bnp-paribas","27":"observer_company-candidly","28":"observer_company-carlyle-group","29":"observer_company-caterpillar","30":"observer_company-cerebras-systems","31":"observer_company-cloudflare","32":"observer_company-cognition","33":"observer_company-cognizant","34":"observer_company-cohere","35":"observer_company-coinbase","36":"observer_company-cursor","37":"observer_company-databank","38":"observer_company-databricks","39":"observer_company-deepseek","40":"observer_company-dell","41":"observer_company-dominion-energy","42":"observer_company-duke-energy","43":"observer_company-elevenlabs-ai","44":"observer_company-eliseai","45":"observer_company-figure-ai","46":"observer_company-fireworks-ai","47":"observer_company-founders-fund","48":"observer_company-general-catalyst","49":"observer_company-google","50":"observer_company-google-deepmind","51":"observer_company-grammarly","52":"observer_company-hugging-face","53":"observer_company-humain","54":"observer_company-ibm","55":"observer_company-insitro","56":"observer_company-khosla-ventures","57":"observer_company-lightspeed-venture-partners","58":"observer_company-manas-ai","59":"observer_company-merck","60":"observer_company-meta","61":"observer_company-microsoft","62":"o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