OFF THE RECORD · FIRESIDE
The AI rally public markets missed
Impact, access and liquidity at the private frontier.
Speaker announced to approved guests.
AI IMPACT · THE PRIVATE FRONTIER · SAN FRANCISCO · OCTOBER 2026
AI IMPACT:
THE PRIVATE FRONTIER
Where AI is changing work, security and wealth — and how capital reaches the companies building it.
Wednesday, October 76:00–9:00 p.m.San Francisco
Invitation-only · Capacity limited · Chatham House Rule
00
days
00
hours
00
minutes
00
seconds
- 1evening
- ≤80guests
- 100%off the record
- 3 hrsin the room
- 0booths
- Oct 7San Francisco
01 — THE THESIS
The AI economy is being built in private.
The most consequential AI companies have not gone public, and many of them will not for years. The contest has quietly moved. It is no longer only about who builds the best model — it is about where AI is actually changing work, security and wealth, who finances that shift, and how investors reach it before the public markets can.
AI IMPACT: The Private Frontier convenes a small number of the people on each side of that question: founders building agentic, vertical and dual-use AI; the investors and family offices financing them; and the operators who understand how private markets actually move. One candid conversation, then the introductions that matter.
Who gets access — and who captures value — before the IPO?
02 — SIGNALS
The numbers moved before the story did.
67%
AI companies' share of all private-market funding in 2025, per Forge's dataset.
Source: forgeglobal.com44%
AI companies' share of 2025 secondary trading volume, per Forge's dataset.
Source: forgeglobal.com5×
2025 performance of Caplight's top-ten private AI index versus its top-ten public AI index.
Source: caplight.comThird-party analysis. Past performance is not indicative of future results. Nothing here is investment advice.
03 — THE CONVERSATION
One fireside, then the room talks.
AI at work
Vertical AI and the shift from software seats to labour outcomes.
Funding the frontier
Defence, dual-use systems and American Dynamism.
Access and liquidity
How private markets actually clear.
The AI-native fund
How research, operations and portfolio construction change.
Stewardship
Governance, fiduciary duty and AI risk as investment risk.
04 — WHO IS IN THE ROOM
Named to approved guests only.
We publish the shape of the room, not the guest list. Every seat is confirmed by the hosts, and each participant is briefed before the evening.
Frontier-model operator
Building agentic systems inside a late-stage AI company
Confirmed
Vertical AI founder
Replacing workflow software with delivered outcomes
Confirmed
Dual-use founder
Defence and national-security systems
Confirmed
Single-family office CIO
Allocating across private technology
Confirmed
Growth-stage investor
Leading rounds in private AI
Confirmed
Private-markets operator
Where access and pricing are actually set
Confirmed
Governance and safety researcher
Making model risk legible to allocators
Confirmed
Fireside guest
Announced privately to approved guests
Reserved
Roles are described, not attributed. Names, firms and titles are never published.
04B — GUEST INVITES
Invitations are extended to people building at these companies.
Requests are reviewed individually. Company names describe where invitations have been extended; they do not imply attendance, sponsorship or endorsement.
- 01OpenAI
- 02Anthropic
- 03Anduril
- 04Databricks
- 05Figure
- 06xAI
- 07Scale AI
- 08Perplexity
- 09Physical Intelligence
- 10Shield AI
- 11Atom
- 12ByteDance
- 13ElevenLabs
- 14Neuralink ($5m allocation)
- 15Prometheus
- 16BlueOrigin
- 17Erebor
- 18Lila Sciences
- 19Aalo Atomics
- 20Substrate
- 21Positron
- 22Lambda (upcoming)
Plus a short list of funds, family offices and private-market operators.
05 — PROGRAM
Three hours, tightly held.
All times Pacific. Doors close at 6:45 p.m.
- 6:00Arrival, reception and host-led introductions
- 6:50Welcome: the impact map
- 7:00Fireside, off the record
- 7:35Questions from the room
- 7:45Facilitated reception
- 9:00Close
06 — THE ROOM
A room designed, not accumulated.
Founders and operators
People building AI that changes how work actually gets done.
Investors and allocators
Family offices, institutions, funds and wealth platforms.
Private-market operators
People who understand how capital and companies actually meet.
Governance and research
Voices who make risk concrete for people allocating capital.
Attendance is approved for relevance and contribution to the room. Capacity is limited, and the exact venue is shared only with approved guests.
Participants are free to use the information they receive, but neither the identity nor the affiliation of any speaker or participant may be revealed. No recording. Photography is limited to arrival.
07 — THE EVENING
One address, shared late.
The evening is hosted in a private San Francisco space during the week the city fills up. Approved guests receive the address, arrival window and host contact by email 72 hours beforehand.
CitySan Francisco, California
AddressShared with approved guests
Arrival6:00–6:40 p.m., doors close at 7:00
DressNo dress code. No badges.
CapacityLimited by design
08 — PARTNERS
A small number of partners.
AI IMPACT: The Private Frontier works with a deliberately short list of partners. No booths, no logo walls, and no attendee data shared without explicit consent.
Partnership enquiries09 — QUESTIONS
Before you apply.
No. There are no tickets and no door sales. Attendance is by invitation, and requests are reviewed by the hosts on a rolling basis.
REQUESTS CLOSE WHEN THE ROOM IS FULL
A short list, one evening.
If the private AI economy is where your work or your capital is going, ask for a seat.
10 — REQUEST AN INVITATION
Tell us why this room is right for you.
Invitations are reviewed on a rolling basis. We read every application. Submitting a request does not guarantee admission.
Wednesday, October 7, 2026 · 6:00–9:00 p.m. PT · San Francisco · Exact venue shared with approved guests