Investment
Editor's Notes * Two of China’s most important tech heavyweights reported yesterday, and it offered a perfect study in contrast. Alibaba’s stock rally in the face of a massive earnings miss proves that the market is currently valuing top-line AI growth over bottom-line safety. Even with a
Investment
Editor's Notes * While the street was initially distracted by AMZN's cosmetic $2.78 EPS print (which was artificially inflated by a massive $16.8 billion Anthropic gain), the real story is the tug-of-war between accelerating top-line and increasing capital intensity. AWS is reaccelerating to 28% growth,
Investment
Editor's Notes * Spotify Technology S.A. (SPOT) delivered a mixed Q1 2026 earnings report. Pre-print fears of generative AI cannibalizing top-of-funnel engagement were completely neutralized by a clean MAU beat (761M) and a strong Q2 user guide (778M). However, the "AI bear thesis" simply shifted to
Investment
Editor's Notes * INTC delivered a massive earnings beat and triggered a 22%+ after-hours squeeze. Ignore the cosmetic GAAP miss from the Mobileye impairment; the real signal is 18A foundry yields running ahead of schedule alongside the Tesla Terafab win. * With Data Center & AI (DCAI) surging on Xeon