Inside Dan Sundheim's Bets on Anthropic, OpenAI, and SpaceX

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Summary based on the YouTube transcript and episode description.

Dan Sundheim of D1 Capital discusses his bets on Anthropic, OpenAI, and SpaceX, and why AI scaling laws still hold.

  • D1 Capital holds private positions in SpaceX, OpenAI, and Anthropic, making it one of the few crossover funds active across all three.
  • Sundheim built early credibility through anonymous posting on Value Investors Club before launching D1.
  • D1 survived the 2021 GameStop short squeeze; Sundheim treats resilience through drawdowns as a core fund trait.
  • He believes AI scaling laws continue to hold and sees hyperscalers as durable winners, not commoditized infrastructure.
  • Traditional software faces structural disruption from LLMs, which Sundheim views as a genuine business model threat to incumbents.
  • Semiconductor supply chains and US-China geopolitics are among the largest macro risks he tracks.
  • Short selling remains a core D1 strategy; Sundheim argues fundamental shorts are undervalued by most crossover funds.
  • Note: transcript was unavailable; bullets are derived from description and timestamps only.

2026-02-24 · Watch on YouTube

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