CipherTalk
Meg McNulty, Kislay ParasharDecoding deeptech's biggest trends.
| Platform |  | Pricing | Freemium | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 110 | Founded | 4 years ago | Last Issue | 4 days ago |
| Active | |||||
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ciphertalk.substack.comLatest Issues
Inference has no yardstick
The inference business is booming. OpenRouter alone routes tokens at a 4.5-quadrillion annual run rate, and Fireworks passed a $1B run rate this summer. Baseten is reportedly in talks at a $26B valuation. Underneath them, CoreWeave reported...
When Hypotheses Become Cheap
AI has already made one half of science dramatically cheaper and left the other half roughly where it was. Generating ideas, reading literature, and running simulations are getting faster every few months. Making the thing, measuring it, an...
Agents Need a Different Computer
I’ve been noticing a shift in the way people talk about AI infra. For the past few years, almost every conversation has centered on GPUs: how many you can get, how efficiently you can use them, how fast you can connect them, and how much mo...
The GPU you rent vs. the GPU that does work
There is now a real market for forward GPU prices. Kalshi's GPU rental markets had generated $4.4 million in notional volume by late August, while CME is preparing H100 and B200 rental-index futures for October 5 and ICE is preparing GPU-co...
Token prices measure the wrong thing
Late July, Moonshot published the full weights for Kimi K3, free to anyone with the hardware to run them. Three days later OpenAI cut GPT-5.6 Luna by 80 percent, on a model it had shipped twenty-one days earlier.
But cheaper tokens don’t n...
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Engineer - Distributed Systems, Space, AI, and Quantum
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