"Everyone Who Has Already Gone All-In On AI Knows That Losing Isn't An Option"

By Eric Peters, CIO of One River Asset Management

OpenAI declined to comment. Its Code Red memo had leaked to the WSJ. Google’s Gemini 3 performance had leapfrogged ChatGPT’s latest model. And Sam Altman naturally hit his red panic button.

We all have one. Mine is reasonably well worn. Sundar Pichai has one on his desk too. He reportedly hit it exactly three years ago when faced with an existential threat; the release of ChatGPT.