https://andrewmortimerbooks.com/ https://medium.com/@andrewmortimer https://thecorporatebeanbag.com/ linkedin.com/in/akbmortimer https://www.amazon.com.au/Glittering-.. September and October 2026 market update: AI deals, strong macro, and what Anthropic could trigger This episode is a fast-moving market briefing on why AI continues to dominate capital flows, why NVIDIA's latest moves matter, and why the broader economy still looks resilient despite sticky inflation and geopolitical noise. AM argues that the real story is not a bubble bursting yet, but a market still absorbing massive AI investment, with Anthropic's expected float potentially causing temporary sell pressure before the next leg up. In this episode: AM frames NVIDIA's reported moves with Hugging Face and Poolside as a major shift in AI power, arguing that NVIDIA now sits at the center of open models, frontier models, and infrastructure. The episode highlights why open models are becoming harder to regulate out of existence, especially when backed by a company as large as NVIDIA. AM says August results season and the latest U. S. jobs data point to an economy that remains strong, even if inflation stays mildly uncomfortable. A Treasury market angle is discussed, including Scott Bessent's bond purchases and the idea that traders may be less willing to hold leveraged bond bets through the weekend. AM recommends Bloomberg's market coverage, Bloomberg Technology, Bloomberg Close, Bloomberg Wall Street Week, and the All In podcast as essential market information sources. Anthropic's expected IPO or float is positioned as a likely short-term catalyst for sell-offs and cash raising, similar to the dynamics seen around SpaceX liquidity events. AM argues this is still an AI boom, not an AI bubble, though circular financing and vendor financing could become a bigger concern in 2027 or 2028. SpaceX is described as having multiple businesses, making it potentially cheaper than pure-play AI firms like Anthropic and OpenAI on a relative basis. The discussion emphasizes that premium AI products from OpenAI and Anthropic can coexist with NVIDIA's open model strategy, rather than eliminating it. AI video generation is described as promising but still far from feature-length cinematic quality, with Martin Scorsese cited as using it for storyboarding and vision development rather than final film production. AM sees the market as strong through at least 2028, with a major correction more likely several years out than immediately. Commodities such as copper and gold are also described as strong, reinforcing the view that the global market backdrop remains broadly constructive. Timestamps: 00:00 - NVIDIA, Hugging Face, and the shift in AI power 00:51 - Why one market commentator's AI take matters 02:07 - Strong jobs data, Treasury moves, and bond trader behavior 03:31 - Bloomberg, All In, and the market info diet 04:55 - Why Anthropic's float could create temporary sell pressure 06:33 - Premium AI products, Rory Sutherland's Alchemy, and NVIDIA's edge 08:02 - Sam Altman, AI video, and where it is not ready yet 09:37 - Why the All In interviews matter for market context 10:04 - Why a major correction may still be years away 11:24 - Revenue, ROI, inflation, and why the AI theme still dominates 12:50 - Anthropic, sell-offs, and strength in commodities Andrew Mortimer is a Multi-Company Founder, Author, specialist fund manager, professional gold explorer, and lifelong gold investor, holding the position of Chairman for several gold mining companies. Successfully led numerous gold exploration teams, achieving significant discoveries in regions known for their complex geological and legal challenges. My exploration efforts have mainly concentrated on the Australian states of New South Wales, Queensland, and Western Australia. Currently, the Chairman of Keops Group, a corporate advisory and finance firm in Sydney, Australia, that focuses on mining and clean technology. Keops Group supports both small and large, public and private companies in executing initial public offerings (IPOs) in Australia and internationally. I studied History and Law at the University of Sydney and trained as a lawyer with the Director of Public Prosecution (DPP) in New South Wales, becoming an officer of the Supreme Court in 2003. I am now part of the Keops Group team, providing advice to companies regarding their exploration projects, strategies, and funding options.

https://andrewmortimerbooks.com/ https://medium.com/@andrewmortimer https://thecorporatebeanbag.com/ linkedin.com/in/akbmortimer https://www.amazon.com.au/Glittering-.. AI is not going to erase work - it is going to force more of it. That is the blunt case here: why computers, tech, and generative AI can change tasks, but not eliminate the deeper economic need for human labor as entropy keeps rising. This episode connects physics and economics in a way most AI conversations miss. Using the second law of thermodynamics, the argument is simple but provocative: as disorder increases, societies need more maintenance, more building, more coordination, and more work to keep civilization functioning. Money, markets, and technology become the systems that make that work possible at scale. You'll discover why AI can absolutely reduce certain tasks, especially repetitive entry-level work like loan application assessment, while still leaving the overall number of jobs higher over time. The episode also examines why robotics has already displaced some dangerous and dull work without shrinking the global labor market, and why generative AI is best understood as a tool, not a replacement for human judgment. We break down the idea that when people can do more, they usually do more - creating more transactions, more complexity, and more demand for human problem-solving. The discussion also pushes back on the assumption that large language models are the same as intelligence itself, arguing instead that the human brain is the real large language model and that human-to-human interaction remains essential. If you are worried about AI taking your job, or trying to understand which parts of work automation will actually change, this episode gives you a sharper framework. It is especially relevant if you want a grounded, economics-meets-physics take on the future of labor instead of the usual hype cycle. A fast, thought-provoking listen for anyone tracking AI, jobs, productivity, and the long-term shape of work in a world that keeps getting more complex. Andrew Mortimer is a Multi-Company Founder, Author, specialist fund manager, professional gold explorer, and lifelong gold investor, holding the position of Chairman for several gold mining companies. Successfully led numerous gold exploration teams, achieving significant discoveries in regions known for their complex geological and legal challenges. My exploration efforts have mainly concentrated on the Australian states of New South Wales, Queensland, and Western Australia. Currently, the Chairman of Keops Group, a corporate advisory and finance firm in Sydney, Australia, that focuses on mining and clean technology. Keops Group supports both small and large, public and private companies in executing initial public offerings (IPOs) in Australia and internationally. I studied History and Law at the University of Sydney and trained as a lawyer with the Director of Public Prosecution (DPP) in New South Wales, becoming an officer of the Supreme Court in 2003. I am now part of the Keops Group team, providing advice to companies regarding their exploration projects, strategies, and funding options.