When the Input Goes to Zero, Who Keeps the Margin?
Token deflation is technology’s oldest pattern. The AI stack may split the same way railroads and bandwidth did.
Politics
From $25B to $55B: Moderna’s Melanoma Math
The Phase 3 win validated the platform. Now the harder work begins: manufacturing every dose from scratch.
When the Moat Pays the Workers
Deere’s rejected contract extension is a reminder that enduring competitive advantages eventually get shared with labor, and investors in capital-intensive industrials should price that in.
CRM Reports in Four Days. The Only Number That Matters.
Agentforce ARR grew 205% last quarter. August 26 reveals whether that was a peak or a floor.
The $514B Backlog vs. 3.6B Daily Users
Alphabet and Meta are both spending the most capital in their histories on AI. The asset that determines the winner is different for each.
Rambus Just Got Cheaper. The Market Is Reading the Wrong Number.
A 20% post-earnings drop on record revenue is not a verdict on the business. It is a timing misread on the most important memory IP ramp of 2027.
Chips Can’t Be Made Without Tungsten. China Just Proved It.
APT prices have surged since early 2026. Almonty is ramping Sangdong and just expanded a 21-year offtake tied to current APT pricing.
BABA Reports Thursday. The Qwen Monetization Flip Is the Test.
Cloud growth could approach 45%. The question is whether Alibaba can convert AI spending into earnings.
The AI Killshot That Is Actually Saving Office REITs
The crowd shorted offices because of AI. AI firms are now the biggest tenants.
WDAY Jumped 21%. The Deal Is Not Done.
Silver Lake’s reported pursuit of Workday is less about one company and more about whether private equity has decided the AI-driven selloff in enterprise software went too far.