AI Products Arrive, but the Returns Still Have to Show Up
Meta has officially introduced its consumer-facing autonomous AI agent, complete with tiered subscription pricing and embedded commercial transaction rails.
Daily analysis
Technology, capital, and what it actually costs.
Independent market analysis on the companies building the AI buildout, the infrastructure underneath it, and the money paying for it. Published every day, with a letter every Friday.
Analysis
All analysis →Inflation Is Back in Charge. AI Demand Still Runs Ahead of Supply.
Artificial intelligence hardware providers cannot expand data center capacity fast enough to satisfy enterprise appetite, yet escalating commodity inflation...
AI Spending Is Huge. Rates Are Pushing Back.
Oracle reported booking more than $30 billion in artificial intelligence cloud contracts in a single quarter, pushing its total remaining performance...
Oil Tops $100. Apple Folds the iPhone.
Brent crude surpassed $100 per barrel for the first time since July as military conflict disrupted tanker traffic through the Strait of Hormuz, a critical...
Oil Near $97 Puts Rate Hikes Back on the Table
Brent crude has climbed to a six-week high near $97 per barrel, driving financial markets to price a 60% probability of a Federal Reserve rate increase at the...
Higher Rates Are Starting to Bite
McDonald's trades near $300 per share with a modest 2% dividend yield, while the benchmark 10-year U.S. Treasury note offers a risk-free return of 4.77%.
The Weekly Letter
All issues →Triple-Digit Oil and Surging Yields Confront Massive AI Backlogs
The collision between capital-intensive computing and macroeconomic tightening intensified as crude oil crossed the hundred-dollar threshold. While enterprise...
Resurgent Inflation and Physical Grids Squeeze AI Expansion
The macroeconomic landscape shifted aggressively as robust employment and elevated energy prices dismantled hopes for monetary easing. While Broadcom delivered...
Physical Bottlenecks and Surging Input Costs Catch Up to AI Growth
The AI buildout encountered the physical friction of the real world this week. While Nvidia delivered record-shattering earnings and specialized cloud...
Get the weekly letter
One email a week. What moved in tech and markets, what it means, and what to watch. No spam, unsubscribe in one click.
Free. Read the archive first if you prefer.