Google Cloud Goes Full Stack, Amazon's $100B Anthropic Bet, Intel's Foundry Moment & More

Patrick Moorhead and Daniel Newman break down a massive week in enterprise tech, from Google Cloud Next's full-stack AI push and Amazon's $100 billion Anthropic commitment, to Apple's leadership transition and Intel's long-awaited foundry validation courtesy of Elon Musk. The handpicked topics for this week are: Google Cloud Next 2026: Full-Stack AI and New TPUs — Google Cloud Next has cemented itself as the second-biggest AI event on the calendar, with Thomas Kurian declaring the proof-of-concept era over and enterprises now in full production mode with agents. Google unveiled two next-generation TPUs (the 8i for training and the 8t for high-throughput inference) and reinforced its full-stack differentiation from infrastructure through Gemini Enterprise Workspace. (The Decode) Google's Agentic Security and MCP Push — Google made a significant move into agentic security, combining Wiz and Mandiant into what Pat calls a sleeper announcement of the show. Google also committed to placing MCP servers across all of its data surfaces, meaning even non-Google platforms can tap into Google data without full lock-in. (The Decode) Google Distributed Cloud and On-Prem Agentic Orchestration — Google took the biggest first step Patrick has seen toward a true agentic orchestrator that spans on-prem enterprise and public cloud through progress on Google Distributed Cloud. No other company has yet attempted cross-environment agent coordination at this level. (The Decode) Amazon's $100 Billion Anthropic Commitment — Amazon formalized a commitment of up to $100 billion into Anthropic, including five gigawatts of Trainium capacity, making it the largest non-NVIDIA silicon commitment in history. Anthropic's valuation crossed $1 trillion just weeks after a $350 billion raise, a pace that has left even veteran analysts searching for new language. (The Decode) Adobe Summit 2026: Enterprise Agents and Jensen's Endorsement — Jensen Huang took the stage at Adobe Summit to deepen the NVIDIA-Adobe partnership, calling agentic workflows the new front end for SaaS rather than a replacement for it. Adobe reported $250 million in Firefly ARR and 45% quarter-over-quarter growth in agentic tool usage, yet the stock continued to disappoint investors expecting hypergrowth multiples. (The Decode) Apple's New CEO: John Ternus and Tim Cook's Legacy — Apple named John Ternus as its fourth CEO, closing the book on Tim Cook's 15-year tenure marked by custom silicon success, services expansion, and operational excellence, alongside misses in Vision Pro, the abandoned car project, and Siri's failure to become the AI front end it should have been. Ternus is a continuity hardware candidate, and the most consequential decision may prove to be keeping Johny Srouji over all of hardware. (The Decode) Intel Foundry: Elon Musk, TerraFab, and 14A Validation — One day before Intel's earnings print, Elon Musk publicly confirmed TeraFab will use Intel's 14A process, delivering the first verifiable public wafer commitment on that node. Intel then reported a 23% stock surge, 22% data center growth, and EPS of $0.29 against a $0.01 street consensus. (The Decode) The Flip: TSMC vs. Semiconductor Equipment Makers — Pat and Dan take hard opposing stances on who holds more power in the AI supply chain: TSMC with its control of over 90% of advanced AI silicon and irreplaceable process expertise, or the equipment oligopoly of ASML, Applied Materials, LAM, and KLA without whom no leading-edge fab can operate. The real answer, they conclude, is deep interdependence, though TSMC's combination of talent and leading-edge control gives it outsized leverage today. (The Flip) Intel — Intel's earnings were a blowout across the board, with data center up 22%, EPS of $0.29 versus a $0.01 estimate, and guide raised, driven by CPU price increases, customer pull-ins, and packaging volume growth. Hosts discuss whether the stock at current levels is pricing in foundry revenue that has barely begun to materialize on the tape. (Bulls and Bears) GE Vernova and Vertiv — GE Vernova posted a beat on revenue and EPS with orders up 71% organically and a $163 billion backlog, while Vertiv reported sales up 30% and raised forward guidance to $14 billion. Both co