nvidia

$650 billion. That is what the biggest tech companies will spend on AI this year. Ray Dalio says the math does not work

$650 billion. That is Bridgewater’s estimate for what Alphabet, Amazon, Meta, and Microsoft alone will spend on AI infrastructure in 2026. One year. Four companies. Up from $410 billion in 2025. Most headlines treat that number as proof that AI is real and the investment is justified. Ray Dalio, speaking at the Forbes Iconoclast Summit …

Read more$650 billion. That is what the biggest tech companies will spend on AI this year. Ray Dalio says the math does not work

The Dow hit all-time highs yesterday. Chip stocks fell 15%. Both things are true and that is the point

Two things happened in markets yesterday and they appear to contradict each other. The Dow Jones Industrial Average hit an all-time high. Broadcom fell 15%, its worst session in over a year, dragging the broader semiconductor index down 2.2%. AMD fell 4%. Intel fell 3%. The surface reading is that the market is healthy and …

Read moreThe Dow hit all-time highs yesterday. Chip stocks fell 15%. Both things are true and that is the point