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Mid-Training Revolution: Why Every AI Lab is Making 3x Bets

FUNDA·2025年10月15日

We previously discussed Mid-Training in our GOOG report and recent Pre-ER Playbook.

Mid-Training represents THE most critical development in LLM technology evolution over the past three months, fundamentally reshaping Labs’ CAPEX attitudes, model evolution trajectories, and the entire storage industry supply chain.

Yet surprisingly few are seriously discussing Mid-Training. After extensive conversations with frontline researchers, we’ve compiled this brief to clarify what Mid-Training is and why it’s accelerating the current AI arms race.

This report is crucial. After reading, you’ll likely reconsider what’s really driving the current AI narrative.

What is Mid-Training?

We briefly introduced Mid-Training in our Pre-ER Playbook.

Continue reading with FUNDA

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