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Jul 29 2026, 06:01

Zuckerberg outlines 3 principles for open AI in WSJ op-ed

**Meta Platforms Inc. Chief Executive Mark Zuckerberg made his most comprehensive public case yet for decentralized artificial intelligence, publishing a Wall Street Journal op-ed that frames open access to superintelligence as the defining choice of the current era.** "Humanity has witnessed many transformative advances. Each time there is fear that people will be left behind. But each time humanity has come out with more people sharing greater prosperity, health and freedom," Zuckerberg wrote in the piece published July 29. "We believe this will be true with AI as well." The op-ed, titled "The AI Future Is for Everyone," arrives as Meta deepens its bet on open-source AI models through its Llama family, positioning the company against rivals such as OpenAI and Google that have taken more guarded approaches to releasing their most advanced systems. Zuckerberg's argument rests on three pillars: individual empowerment as the source of prosperity, invention as the primary purpose of superintelligence, and balance of power as the foundation of safety. "I don't understand why anyone who believes that AI will eliminate most jobs and much of humanity's relevance would rush to build that future," Zuckerberg wrote. "The notion that AI is so dangerous that the only safe path is an extreme concentration of power seems dangerous." **The case against centralized control** Zuckerberg directly challenged the prevailing safety narrative pushed by some AI labs, arguing that concentrating superintelligence in a handful of institutions would create economic and political risks that outweigh any theoretical safety benefits. He described a thought experiment in which only one person had a superintelligent lawyer — an unfair advantage in court — versus a scenario where everyone had equal access, which he said would make justice "carried out much more fairly and efficiently than it is today." "Historically, hoping that an absolute power will benevolently provide for humanity if sufficiently enlightened hasn't led to safe or positive outcomes," he wrote. The Meta CEO also rejected the idea that a single superintelligence could be aligned with everyone's values simultaneously. "Humanity isn't a monoculture. There is no technological solution that can align with everyone's opposing interests and diverse values at once," he said. "Any singular superintelligence would have to prioritize some values over others and in the process would be incapable of being benevolent to everyone." **Invention over automation, more jobs ahead** Rather than framing AI primarily as a labor-replacement technology, Zuckerberg argued its greatest contribution will be accelerating discovery — from new medicines to new business models. "While the number of questions you can ask in a day is limited, the number of valuable things superintelligence can invent to help achieve your goals is unlimited," he wrote. On jobs, Zuckerberg broke with the doomsayer camp. "If superintelligence is widely distributed, then I believe we will see more jobs in the future, not fewer," he wrote, predicting that lower capital requirements for starting businesses would shift employment toward smaller companies. "I expect the economy will become more entrepreneurial with a greater number of people working at small businesses rather than larger companies." The op-ed is the centerpiece of a coordinated media push by Zuckerberg that also included an open letter and a rare interview with the New York Times. Across all three appearances, he delivered a consistent message: AI should be open, widely distributed, and built to empower individuals — not replace them. Meta's open-source strategy carries direct financial implications. The company has invested tens of billions of dollars in AI infrastructure, including data centers and GPU clusters, while making its Llama models freely available — a bet that widespread adoption of its technology will create an ecosystem that benefits Meta's core advertising business. By contrast, OpenAI and Anthropic have kept their most capable models behind API paywalls, charging per-token fees that generate direct revenue. "Developing superintelligence will be the most profound technological advance we will see in our lifetimes," Zuckerberg wrote. "Meta is committed to building with the principles of individual empowerment, invention and balance of power." This article is for informational purposes only and does not constitute investment advice.

Jul 29 2026, 05:59

Zhongji Innolight denies 1.6T price rumor, confirms 2027 orders

**Zhongji Innolight told investors the 1.6T optical module price rumor was "very离谱" and that 2027 orders are already in hand.** Zhongji Innolight's emergency investor call pushed back against a market panic that wiped billions from AI supply chain stocks, calling a widely circulated $600 price for 1.6T optical modules "very离谱" and confirming that nearly all customers have placed real 2027 purchase orders with specified monthly delivery volumes. "The price for next year's 1.6T products is definitely far higher than what the rumor says," a Zhongji Innolight management representative said on the call Tuesday. "From a weighted average ASP perspective, the rumored price is very离谱." The company said key customers have already provided specific demand guidance for 2028 products including 2.4T transceivers and NPO (near-packaged optics), with order amounts described as "very large." Management also disclosed that the ratio of optical modules per GPU has at least doubled from the previous 1:3 standard as AI cluster sizes expand, and that optical connectivity's share of CSP capital expenditure — historically below 5% — is rising and accelerating. The denial directly challenges the bearish thesis that AI capex is peaking and that optical module pricing faces a collapse. Zhongji Innolight, which trades on the Shenzhen Stock Exchange, said 2027 new product gross margins will exceed those of mature products, and that the company is securing supply through long-term agreements, prepayments, and equity investments in core component suppliers. The panic began after US-listed AI stocks fell overnight and a rumor circulated that a new entrant had quoted 1.6T optical modules at $600 — roughly half the prevailing market price. Zhongji Innolight's shares dropped sharply before the company convened the call. Management dismissed the idea of industry-wide price warfare. "The industry does not have the kind of vicious competition that some imagine," the representative said. Annual price adjustments are normal, they added, but with demand surging and components in short supply, "there is no mainstream behavior of cutting prices by tens of percent." **Supply Constraints Favor Incumbents** The company stressed that 1.6T production capacity remains extremely scarce. "From the second half of this year through next year, I believe only a few manufacturers will be able to deliver 1.6T products at scale," management said. New suppliers are mostly entering at the 800G level, while 1.6T certification and qualification cycles are long and demanding. Major customers including hyperscale cloud providers have largely maintained their existing supplier rosters, with only limited additions. On the demand side, the company said 2027 orders are "not general guidance, but real orders" with specified monthly delivery volumes. The ramp includes 800G, 1.6T, and early volumes of 2.4T and NPO products. At least two influential customers will begin bulk NPO purchases in the second half of 2027, with larger volumes expected in 2028. Management noted that NPO is likely to follow a similar adoption curve to 1.6T: initial deployment by a few industry leaders, followed by broader adoption. **Gross Margin Outlook and Technology Moat** Management expressed strong confidence in margin stability. "When 2027 new products begin ramping, their gross margins will definitely be higher than currently mature products," the representative said. "New product volume ramps will effectively pull our gross margins higher." The company also pushed back against characterizations of optical module manufacturing as a low-tech assembly business. "I strongly oppose comparing this industry to certain other industries or saying there are no technology barriers," management said. The technology curve is "getting steeper," with requirements spanning silicon photonics, thin-film lithium niobate, Coherent Lite, and advanced packaging — capabilities that only a handful of suppliers possess. Zhongji Innolight said it is evolving into a platform company with multiple core technologies, positioning it for future applications including scale-up optical connectivity and eventually scale-in (cabinet-internal) connections, though the latter remains "further out." For investors, the call provides the strongest counter-evidence yet against the narrative that AI infrastructure spending is approaching a peak. If confirmed by peer companies and customer disclosures, the 2027 order visibility and 2028 product roadmaps would suggest the optical module cycle has multiple years of growth ahead, driven by both volume expansion and rising ASPs from increasingly complex products. This article is for informational purposes only and does not constitute investment advice.

Jul 29 2026, 05:59

Arnott thanks 10 tech billionaires in WSJ capitalism ode

**Rob Arnott, founding chairman of Research Affiliates, published a Wall Street Journal op-ed July 29 arguing that successful entrepreneurs deserve gratitude, not envy, for creating products that improve lives.** Rob Arnott, founding chairman of Research Affiliates, published a Wall Street Journal op-ed July 29 arguing that capitalism's most successful figures — from Bill Gates to Sam Altman — deserve gratitude rather than resentment for building products that benefit billions. "Most success is earned by improving an ever-changing world," Arnott wrote. "Instead of resenting success, can't we be grateful when achievement is fairly earned?" Arnott recounted a taxi driver in Moline, Illinois, nearly three decades ago who thanked him for his success, explaining that successful people create paying customers and products that make the world better. Arnott extended that gratitude to 10 technology billionaires, including Gates, Steve Jobs, Jeff Bezos, Mark Zuckerberg, Jensen Huang and Sam Altman, arguing their companies created superior products for millions of happy customers. The op-ed arrives as U.S. political discourse increasingly targets corporate profits and billionaire wealth. Arnott's argument frames economic success as a positive-sum game where innovation benefits consumers through lower prices and better products — a view he said is rooted in "a politics of gratitude" rather than envy. Arnott drew a distinction between wealth earned through crime or corruption and wealth created by building products people value more than their price. "J.K. Rowling is one of Europe's wealthiest women because millions of families value her stories more than the cost of her books," he wrote. "Jeff Bezos, Bernard Arnault and Elon Musk created superior products for millions of happy customers. Otherwise, they wouldn't be centibillionaires." The piece specifically thanked Gates, Michael Dell and Jobs for putting computers and smartphones into billions of hands; Larry Page and Sergey Brin for making human knowledge freely accessible; Zuckerberg for enabling global social interaction; Ken Griffin for creating efficient capital markets; and Huang, Altman and Dario Amodei for launching the artificial-intelligence revolution, which Arnott said "will change our world beyond recognition — almost certainly for the better." **A Framework of Gratitude** Arnott contrasted what he called "the politics of envy" with his driver's "politics of gratitude" — a framework that rejects zero-sum thinking about wealth. The driver's insight, Arnott said, was not personal gratitude toward him but a broader rejection of resentment toward those who succeed. "In a healthy capitalist system with strong rule of law and a light regulatory burden, success means producing something people value more than its price and are therefore happy to buy," Arnott wrote. The op-ed reflects a long-running debate in asset management about the social utility of wealth creation and whether markets distribute gains broadly enough to sustain public support. This article is for informational purposes only and does not constitute investment advice.