Live from Napa: AI dealmaking surges, from roll-ups to Anthropic’s compute push

The AI trade keeps broadening. Compute demand is outrunning labs’ most extreme forecasts. VCs aren’t waiting for enterprises — they’re buying the companies. This week, Long Lake took Amex GBT private for $6.3B at a 65% premium, the second AI roll-up to hit public markets in five months. Live from Morgan Stanley’s Founders Summit, we sit down with Long Lake’s Alex Taubman and General Catalyst’s Madhu Namburi, Morgan Stanley’s Mandell Crawley, and Anthropic’s Boris Cherny and Cat Wu.