The Information's TITV Apple-F1 Media Deal, Moneyball for Minors, Oracle's AI Margin Worries, AI Rollup Boom | Oct 17, 2025
Oct 17, 2025
Vinay Iyengar, managing partner at Anansi Capital, shares insights on AI roll-ups, emphasizing a shift away from traditional SaaS models to consolidate small businesses using AI for better margins. Sara Germano, a sports business reporter, sheds light on Apple's exclusive five-year F1 media deal and the rapidly growing youth sports tech market, projected to reach $12 billion. They discuss the major players in youth sports tech and how this trend is reshaping family and community engagement in sports.
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Oracle's AI Margin Gap
- Oracle projects 30–40% gross margins for AI infrastructure but recent data shows current margins well below that range.
- Ramp-up periods and older chip economics make hitting those targets uncertain in the near term.
Chip Mix Drives Current Margins
- Historical chip-level margins (A100/H100/H200) were below Oracle's 30–40% target in the last quarter.
- OpenAI deals lifted H200 utilization and improved margins to about 19%, still short of management's goal.
Model Multiple Funding Paths
- Expect Oracle to use vendor financing or lease structures to mask CapEx on the balance sheet.
- Model multiple funding paths (CapEx, leases, vendor finance) when forecasting Oracle's cash flow and interest exposure.