Alex Heath returns to the show to talk about all things AI. In today’s conversation we get into Meta’s earnings and AI plans, whether Apple is a genius or just lucky for sitting out the AI capex wars, the Apple vs. OpenAI lawsuit, who actually has the momentum between OpenAI and Anthropic, and some hot takes at the end. Subscribe to Alex&#x27;s newsletter, Sources: https://sources.news Check out the Public app for incredible investing tools and to support the show (LINK) Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.

Who's Actually Winning the AI Race? (ft. Alex Heath)

The Rundown

Welcome back to The Rundown. Today, we are talking to Alex Heath, author of the Sources newsletter and one of the most plugged-in reporters in Silicon Valley. This is Alex's second time on the show, and he's joining at a wild time for AI.

We covered a lot in this conversation, including why Wall Street is confused about Meta's AI plans, the approach that Apple is taking to AI, the impact that Apple's lawsuit could have on OpenAI's hardware ambitions, and whether OpenAI Anthropic will IPO soon. This was a really great conversation. I think you guys are going to really enjoy it. So, let's get into it. All right, guys. Today, we are joined by Alex Heath. He is the author of the Sources newsletter. He's one of the most plugged-in people in Silicon Valley.

Alex, welcome back to The Rundown. Good to be back. Yeah, thank you so much for coming back. The last time you were on was almost a year ago. It was October of 2025, and I got to say, a lot has changed in the world of AI. And also with you, you know, you had just launched Sources back then, and now you're almost a year into this. How is it like, you know, going independent? What's been the biggest surprise to you? It's been great. It's wildly exceeded my expectations. Yeah, it's been really fun.

I've got Sources, been doing it for about a year, like you said, having a lot of fun covering the AI race. I want to start today's conversation talking about Meta first because they reported earnings last night. Their stock is getting crushed right now.

Who's Actually Winning the AI Race? (ft. Alex Heath)

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Who's Actually Winning the AI Race? (ft. Alex Heath)

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.