The Information's TITV Capital One’s $5B Brex Buy, Intel’s Sales Slump & OpenAI’s Greg Brockman Goes MAGA | Jan 23, 2026
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Jan 23, 2026 Laura Mandaro, Dealmaker columnist who tracks fintech M&A, and Mike Belshe, BitGo CEO who led its public listing. They dig into Capital One’s $5.15B purchase of Brex and what it means for fintech valuations. They also discuss BitGo’s IPO timing, retail allocations and tokenized shares. Short, sharp takes on consolidation, fundraising pain and how public markets are changing tech finance.
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AI Demand Outstrips Intel's Production
- Server CPU demand driven by AI is strong despite Intel revenue weakness.
- Execution and capacity limits, not demand, appear to be the primary drag on Intel's near-term results.
Foundry Plans Inflate Valuation Risks
- Intel's foundry ambitions add geopolitical and execution complexity to its valuation.
- Market optimism about customer wins hasn't yet translated into predictable revenue streams.
Lock Regulatory Credentials First
- Prepare regulatory and audit readiness before pursuing large institutional customers.
- BitGo emphasized SOC audits, insurance, and an OCC charter to unlock institutional demand.