🔴 Agentic AI: We Have Passed the Inflection Point

The cockfight between Anthropic and OpenAI has a new winner: Anthropic. And the tech world now has to reckon with a new leader. One that did not hesitate to make it known, by announcing a funding round at a valuation of $1 trillion (a thousand billion), more than OpenAI's $880 billion. Not to mention the anxious wait for the arrival of Mythos.

But that product will probably not be available to everyone because, as we will see, Anthropic may not have sufficiently anticipated its new position as leader.

Thank you for your trust

This newsletter is a real success, beyond what I had imagined three years ago.

My initial goal was fairly simple. To gather around a newsletter the 10,000 people who still want to think about what our future will be in a world undergoing geopolitical and technological transition. The ones who are going to change the world and their companies in the years ahead.

When I look at the list of my paying subscribers, what strikes me most is the diversity of profiles. There is a bit of everything. Founders of well-known startups, particularly in AI, CIOs and CISOs, consultants, journalists, people from the defense world, politicians and their advisers, students, civil servants, former users of Netvibes and Jolicloud, but also researchers and ordinary citizens.

This diversity has one thing in common: all of them have understood that the future is not written, and that the future is the most important thing in the world, because it is where we are going to spend the rest of our lives.

We are at an inflection point where action and power are made and unmade. And faced with a flood of news and possibilities, you have to sort through it. That is part of what I try to do with this newsletter.

Writing is thinking

In the age of AI, thinking is a salutary act. That is why, every week, I write first and foremost for myself. Because writing is, above all, thinking.

Writing for others is a discipline that forces me to formalize that thinking, to take a little more time to make sure the figures, the coherence between the ideas and the announcements that have been made, bear out my intuitions.

Most of you come here looking for clarity, a reading of the moment and, above all, an analysis you will not find elsewhere. In practice, that means being 3 to 6 months ahead of the market's understanding.

What's new in my newsletters

For a few months now, I have been spending more time in my AI lab, where I am actively working on new products. 10 years after Jolicloud, the first sovereign cloud service, I am now focused on the new frontier, that of tools for cognitive autonomy.

Once a month, for my paying subscribers and in partnership with my lab, I will share my thinking on AI and the future of cognition.

Once a month, in partnership with my advisory firm The Sovereign Way, I will publish a newsletter dedicated to digital sovereignty, but from the angle of 2026 and the battle for compute, not that of 2015.

The month's two other newsletters will, as usual, be decided as we go. With, of course, the film club you enjoy.

Become a paying member before the price increase

A subscriber convinced me last week to spend more time writing for my paying subscribers. She had just decided to buy computers and a storage server ahead of time, right before a major price hike, because she had read one of my articles on techflation.

The head of a sizable SME, persuaded by one of our newsletters, is experimenting with local AI solutions on his Mac Mini. He has gotten so far ahead of his sector that he has become the go-to person on the subject.

A consultant who decided to pitch an offering on transatlantic decoupling won her contract.

All of them told me this newsletter has more than paid for itself.

As for the professionals who read me, I have come to understand that they are not paying for information, but for one piece of information, one anecdote, one intuition that allowed them to make the difference. And that is what makes me happy to share my thinking with you.

As a paying subscriber, you also get access to all my monitoring and to all the bonuses I publish when I have the time.

This week's analysis

Over the past two weeks I have had the chance to talk with people in very different fields: the defense sector, luxury, figures from politics and finance. The same question keeps coming up.

You have to prepare for two things at once:

• The shift from generative AI to agentic AI, which requires relearning
• The case where the current situation collides with the established models and forces an explosion in the price of compute.

It is now an open secret. In the United States, almost half of the data centers announced for 2026 will not break ground this year.

Of the 12 gigawatts of planned capacity, only 5 are actually under construction. The rest is canceled or delayed.

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