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Qualcomm's Inference Play

The Phone Chip Gambit One of the more interesting side effects of the AI gold rush is that it's forcing companies to get innovative. The demand for compute is so extreme, and the dominance of Nvidia is so absolute, that challengers are having to make counterintuitive bets to
Qualcomm's Inference Play

The AWS Squeeze

Amazon's Bad Week For the longest time, the cloud computing business was mainly a two-horse race between Amazon and Microsoft, and everyone else was just fighting for scraps. Amazon Web Services, the division that literally invented the industry, was the undisputed king—the default choice for startups, the
The AWS Squeeze

Did IBM Miss?

The Wrong Kind of Good News In the AI-obsessed market of 2025, there are apparently two kinds of good news. There is "good news," where a company beats earnings estimates and raises its forecast. And then there is "AI-cloud-hyper-growth good news," which is the only kind
Did IBM Miss?

Why Is Meta Selling Its AI Factories Before They're Even Built?

Meta recently struck a record-breaking $27 billion deal with asset manager Blue Owl Capital to fund its massive Hyperion AI data center in Louisiana. But this was no ordinary investment. In the largest private-capital deal in history, Meta is effectively selling off 80% of its flagship project, contributing its own

The Great Compute Scramble

Anthropic's Hedge It's an interesting time to be Amazon. You're the undisputed king of cloud computing. You identify the hottest AI startup on the planet, Anthropic, and make a massive bet, committing $8 billion to become its single largest shareholder and flagship AI partner.
The Great Compute Scramble

Is Oracle a Construction Company?

The $185 Billion Lease Agreement Ordinarily, when a very large company holds a big meeting and announces a plan to more than triple its revenue in five years, its stock goes up. It is a sign of confidence, a vision of explosive growth. It is the kind of thing that
Is Oracle a Construction Company?