Why the tech industry cares about open-weight AI...
July 27, 2026View Online | Sign Up | Shop
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Hello there. Police are looking for two men who sneaked up to the top of the Seattle Space Needle with parachutes on, flipped over a glass wall, and floated down the 605 feet to the ground before disappearing. This happened around 8:50pm local time on Friday night. The most bizarre part for us is how anyone has that kind of energy to spare at the end of the workweek.

Holly Van Leuven, Brendan Cosgrove, Neal Freyman

In today’s newsletter, we’ll get into:

  • The tech world weighing in on open-weight AI models
  • Oil prices receding as early trading began
  • The high-end boat company becoming a purpose trust

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  • Markets: After a rough couple of weeks, investors have their fingers crossed as they await blockbuster earnings and a rate decision from the Federal Reserve (more on both of those later).
  • Stock spotlight: AstraZeneca reports its second-quarter earnings today after announcing earlier this month that one of its heart disease drugs failed a late-stage trial.

weight, what?

Tech companies take stand on open-weight AI access

Jensen Huang in front of an Nvidia backdrop

Jensen Huang joined X and then posted an open letter. Philip Fong/Getty Images

Just a few days ago, the most heated debates about the merits of an open-weight class belonged to MMA enthusiasts. But after an open letter was released on Friday by more than 20 tech companies, open-weight AI models have become front and center in the discourse.

For context: Open-weight AI models let users download and edit them, and run them locally. By contrast, the most popular US large language models are closed and proprietary, like Anthropic’s Claude Fable 5 and OpenAI’s GPT-5.6 series.

Why do we they care about this?

Any connotation the public had with open-weight AI models was probably negative (at least before Denny’s intervened). Popular Chinese AI models, like those made by DeepSeek as well as newcomer Kimi K3 from Moonshot AI, are open-weight.

The letter didn’t mention China…but it did enumerate the benefits of open-weight models despite bad press, including by extending access “to the AI economy.” AI will become scalable to use for billions of everyday tasks at “factories, hospitals, farms, classrooms, and main street businesses,” but only with the help of low-cost, open-weight models, the letter said.

It also admitted there are risks with open models, like modifications being made to them beyond the creator’s control.

Signer scrutiny

Nvidia and Microsoft were the heaviest hitters on the open letter. Another of the initial signers was Hugging Face, which was hacked by a proprietary OpenAI model after it went rogue…and it defended itself using an open-weight Chinese model after Anthropic’s Fable 5 couldn’t tell if Hugging Face was the hacker or not.

The signers of the letter rose to 50 after Jensen Huang posted it on X. But those still don’t include Anthropic, Amazon, or xAI. (OpenAI signed after the letter gained traction.)

Zoom out: The tech companies used the letter to urge the US government to avoid “premature restrictions on open models that stifle competition or drive innovation overseas,” following interventions it’s made in domestic AI companies.—HVL

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an oil refinery in Greece

An oil refinery in Greece. Nurphoto/Getty Images