Opinion · Industry Economics
New tariffs, digital services taxes, and a strong dollar are driving up cross-border tech costs, with two million fewer Canadian border crossings signaling a wider trade policy reckoning.
Opinion · AI Capex
The Q1 2026 earnings reports revealed a stark split: investors now separate hyperscalers by AI revenue delivery, fracturing a capex cycle that once rewarded all spenders into clear winners and losers.
As M&A deal volumes climb, antitrust regulators from FERC to the DOJ are rewriting clearance rules in real time, leaving deal pipelines vulnerable to political and legal shifts.
Opinion · Industry Economics
Record Q1 2026 AI infrastructure spending from Amazon, Alphabet, Microsoft, and Meta has pushed the market to separate leaders who show revenue returns from those still asking for patience.
Opinion · Technology Economics
Four hyperscalers reported strong earnings but tempered forward guidance as combined AI capex commitments topped Switzerland's GDP.
Opinion · Economics
Amazon's free cash flow collapsed to $1.2 billion yet Alphabet surged while Microsoft and Meta fell, drawing the first clear line between AI capital spending and realized returns in Q1 2026.
Opinion · The Economics
The headline of Q1 — "$300B raised, 80% AI" — is the press-release version. The line-item version, reconciling the deal-by-deal disclosures, is more concentrated than even the press release suggests.