Ben Carter is a staff writer at P&L, covering markets, dealmaking, and public companies. He previously worked in equity research, focusing on valuation, earnings, and IPOs.
Alphabet is shifting from an asset-light ad distributor to a high-capex, vertically integrated provider of synthesized AI intelligence, trading near-term free cash flow for computational utility dominance.
Custom TPUs let Alphabet absorb AI inference costs and undercut competitors who pay a hardware tax to third-party vendors, creating a supply-side moat.
January–May profits climbed 18.8% year over year, led by electronics makers, while automakers and furniture producers logged declines.
Bessent said U.S. GDP can return to 3% this year, but first-quarter growth was 1.6% after 0.5% in the prior quarter.
Bessent said U.S. growth could return to 3% this year after GDP rose 1.6% in the first quarter following 0.5% growth in the fourth quarter of 2025.
The Magnificent Seven, Broadcom, and Oracle erased about $2.7 trillion in market value in June as investors reassessed AI infrastructure costs.
Venezuela is preparing a restructuring for about $240 billion of debt, which would be the largest sovereign workout in history.
Studies cited in the BBC report put UK business investment 12% to 13% below a no-Brexit path, with the economy 3% to 8% smaller.
South Korea’s Kospi tumbled 10%, triggering a 20-minute trading halt after SK Hynix and Samsung each fell more than 12%.
Nvidia has shifted from selling chips to selling AI factories, using full-stack hardware, networking, and CUDA to capture more of each data center buildout.
Nvidia has shifted from chip seller to AI infrastructure provider, bundling compute, networking, and software into rack-scale systems with software-like margins.
The package would let companies import and export directly and give municipalities more authority to approve local businesses.
