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If Silicon Valley is a casino, OpenAI is the guy at the high-roller table betting the house while Anthropic is quietly counting cards. Company financials shared with investors show that AI startup Anthropic anticipates breaking even by 2028 while competitor OpenAI projects $74 billion in losses that same year. Anthropic (whose CEO left OpenAI four years ago after a feud with Sam Altman) runs more like your typical software company: 80% of revenue from enterprise clients, steady monetization, no compute-draining side quests like video or image generation. Its Claude models have also become favored among coders. OpenAI, meanwhile, spends like a sovereign wealth fund trying to will AGI into existence: thinner margins, massive R&D burn, $1.4 trillion in future infrastructure commitments (and counting). As bubble concerns percolate, Anthropic’s boring-but-disciplined approach may start to look promising — though at a $500B valuation, OpenAI has no shortage of investor demand for its aggressive approach. Which strategy takes the lead will hinge partly on where we end up in the capital cycle. When money is cheap, startups spend big to scale fast. When liquidity tightens, markets reward margins. If Anthropic (recently valued at $183B) plays catch-up to OpenAI, it may signal a shift from the “build-at-all-costs” phase to the “show-me-the-margins” phase of the AI trade.

Crypto is experiencing a pullback this week (BTC -8%, ETH -8%) but this dip is less about fundamentals and more about traders sobering up. For months, a lot of people in crypto were running *heavy* leverage (say, buying $100K of Bitcoin with only $25K of their own money and borrowing the rest). Then the market wobbled, they got margin-called, and the sell-off fed on itself. Classic late-cycle optimism meets math. Now with most of those forced sellers flushed out, the setup looks cleaner and the same people who panic-sold might soon be panic-buying. And there’s also a timing twist: Bitcoin’s last big run started right after the 2024 election. A lot of those buyers were waiting to hit the one-year mark for lower capital-gains taxes but when the market turned, they sold a little early. A tax play that backfired. The bottom line? In our view, this latest dip is likely just a short-term shakeout of these highly leveraged traders. Once the dust settles, we believe risk capital may rotate back into crypto.

As Washington navigates record deficits and a government shutdown, our co-CEO and Chief Investment Officer Clayton Gardner breaks down three areas for investors to consider during growing deficits: - International equities - Gold & Bitcoin - Private credit & infrastructure This is one framework for positioning portfolios in a world where fiscal policy, currency strength, and inflation are becoming the new market drivers.

Getting married doesn’t just change your relationship status. It changes your tax status too. When you switch from “single” to “married filing jointly,” the IRS now looks at your *combined* income. This can affect everything from Roth eligibility to student loan repayments. If you’re newly married, make sure your tax & investment plan reflects your new reality.

China just hit pause on its latest round of rare earth export controls which threatened to destabilize supply chains in industries ranging from AI to defense to clean energy. But even with this pause, the bigger problem hasn’t changed: China dominates the rare earth value chain from mining to processing to magnets, and shifting that dominance will take years of investment, innovation, regulatory overhaul, and specialized training. Our Chief Investment Officer Clayton Gardner explains what rare earths are, why they’re strategically important, and how investors should consider thinking about them.

Usually when U.S. stocks rise, the dollar rises too with foreign investors pouring money in, lifting both. But this year, the dollar’s down while U.S. stocks are up. Our CIO Clayton Gardner explains what’s behind the disconnect and why de-dollarization might be playing a role.

Most business owners end up with their net worth tied up in one place: their business. But that concentration can pose a risk to their financial health without the right diversification strategy. Our wealth advisor Allison Copsey breaks down how to avoid that trap if you’re an entrepreneur or small business owner. Book a call with Titan to craft a balanced financial plan for you: https://lnkd.in/ebwFsfnQ

The AI boom is creating ripples across markets that reach far beyond chips and LLMs. Smart investors are looking past the headlines to the sectors quietly powering this boom, like nuclear energy and the uranium that fuels reactors. As AI data centers demand more energy, these inputs and the companies behind them may prove to be some of the quiet major players of the AI era.

OpenAI is making billion-dollar deals with chip makers like Nvidia, Broadcom, and AMD with creative financing structures like getting suppliers to invest in their data centers in exchange for buying their chips, or taking equity stakes that rose 30-40% when announced. This approach may work as long as there’s consensus that AI scaling laws will continue delivering massive improvements - but if that belief cracks and model progress stalls, the whole supply chain could be left vulnerable. Real demand exists this time (unlike the dot-com era), but with increased financial dependencies within AI and the impact of the sector on the broader economy, the stakes have never been higher.

2026 Tax Brackets Are Here (And More Updates Coming Soon)The IRS just released the 2026 federal income tax brackets. Swipe to see where your income falls for single filers and married filing jointly. Here's why this matters now:In a few weeks, we'll also get the 2026 IRA and HSA contribution limits. These two pieces together give you the complete picture for tax planning next year. Whether you're looking to maximize retirement contributions, optimize your health savings strategy, or simply project your 2026 tax situation, now's the time to get ahead of it. We'll break down the IRA and HSA updates upon release. Stay tuned.