Chipotle Falls 9% On An Outbreak It Has Not Been Linked To Yet

Chipotle pulled jalapeños from restaurants in Minnesota this week after state health officials flagged a possible connection to a salmonella outbreak. The stock fell close to…

By Scott Allan · Aug 5 · 3 min read

Baidu’s GPU Cloud Grew 283% and Revenue Still Fell 4%, Which Is the Whole Problem

Baidu reported second-quarter revenue of RMB 31.3 billion on Tuesday, down 4% from a year earlier and short…

3h ago

Business

Home Depot Beat on $47.9 Billion and Still Refused to Raise Guidance, One Day Before 50% Canadian Tariffs Land

Home Depot cleared the bar on Tuesday morning and then declined to move it. The retailer posted second-quarter…

3h ago

Markets

Stocks, indices, and the macro tape

Cloud & Infrastructure

CoreWeave’s $104 Billion Backlog Is Also the Collateral for Its Debt

CoreWeave beat on nearly every line that Wall Street models and the stock jumped…

By Scott Allan · 4d ago

Markets

Reddit Joins the S&P 500 on August 18 With Its Front Door Under Google’s Control

Reddit will enter the S&P 500 before the opening bell on Tuesday, and the…

By Scott Allan · 4d ago

Analysis

On Holding Posted a Record 65.4% Gross Margin and Had the Worst Day in Its History

On Holding did almost everything the market says it wants. The Swiss running brand…

By Scott Allan · 5d ago

Analysis

Intel Raised $20 Billion at $95 a Share for Factories Most of Its Customers Have Not Signed For

Intel closed a $20 billion common stock offering on Wednesday, and the striking part…

By Scott Allan · 5d ago

Artificial Intelligence

The race to build — and regulate — intelligent machines

Cisco Needs $3.7 Billion of AI Orders Tonight to Make Its $9 Billion Year Work

Cisco reports fourth-quarter and full-year fiscal 2026 results after the close today, with the call scheduled for 4:30 p.m. Eastern, and Wall Street has spent the…

By Scott Allan · 6d ago

Technology

Product, platform, and the shape of the Internet

Macro photograph of a solar-powered Flock Safety automatic license plate reader camera against a black background

Policy

Flock Safety Cut Data Retention to Seven Days Because City Councils Kept Voting No

Flock Safety announced on Thursday that it will shorten default storage of license plate…

By Scott Allan · 4d ago

Markets

Intel Gained 12.7% in a Week on a Customer List Nobody Will Confirm

Intel closed Friday at $101.65, up $11.45 on the week, a 12.7% run that…

By Scott Allan · Aug 10

Anthropic Is Hiring Chip Designers at $485,000 to Stop Renting Its Margin From Nvidia

Anthropic confirmed this week that it is standing up an in-house custom silicon team…

By Scott Allan · Aug 7

Shopify Jumped 25% on AI Orders It Spent Nothing to Build

Shopify reported second-quarter revenue of $3.58 billion on Wednesday, up 34% from a year…

By Scott Allan · Aug 6

Anthropic Priced Claude Opus 5 to Cannibalize Its Own Flagship

Anthropic launched Claude Opus 5 at the same $5 and $25 token price as…

By Scott Allan · Jul 24

Meta Claims Its Next AI Model Has Caught OpenAI’s GPT-5.5, Signaling a Narrowing Frontier Gap

Meta’s chief AI officer Alexandr Wang told employees during an internal town hall on…

By Scott Allan · Jul 5

Business

Deals, earnings, and corporate strategy

A Wendy's paper cup and takeout bag on a white studio backdrop next to a folded share purchase agreement and a fountain pen

Business

Nelson Peltz Wants Wendy’s Private After 18 Years, a Withdrawn Outlook and a Halved Dividend

The man who assembled the modern Wendy’s is now trying to buy it at the cheapest it has been in a decade. Trian Fund Management is…

By Scott Allan · 5d ago

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Charts

Our Bitcoin Live Chart Gets Major Upgrade: Learn How To Read the Indicators

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Opinion & Analysis

Arguments, essays, and deep dives

Scott Allan Opinion

Cathie Wood Sold $37.5 Million of Deere to Fund Nvidia and Broadcom Buys

ARK Invest’s largest transaction on Monday was not a purchase. Cathie Wood’s firm sold 60,458 shares of Deere & Co worth roughly $37.53 million, and on…

Scott Allan Opinion

Coherent Fell 12% and Lumentum 7% as the AI Optics Policy Trade Unwound Into Earnings

Scott Allan Opinion

Sam Altman Says AI Should Pace Itself, Weeks After His Models Broke Out Of Their Cage

Crypto

Digital assets, tokenization, and the on-chain economy

Crypto

Trump’s $1.4 Billion Crypto Disclosure Reveals the Business Model Behind His Deregulation Agenda

President Trump earned at least $1.4 billion from crypto ventures in 2025, his first year back in office, while simultaneously dismantling the…

Jul 1

01
Crypto Bitcoin ETFs Post Worst Month on Record With $4.5 Billion in June Outflows as Institutional Investors Retreat
Jul 1
02
Crypto Saylor Blinks: Strategy Sells Bitcoin for the First Time Since 2022 as BTC Cracks $68,000
Jun 2
03
Analysis Bitcoin Drops Below $73K as Stocks Hit Records: Why Crypto Is Diverging
May 29

Policy

Regulation, geopolitics, and capital in Washington

Two-colour risograph poster: a blue Federal Reserve eagle seal at left, and at right a row of vermilion bars stepping down until the final bar drops below the baseline

Economy

Payrolls Fell 23,000 and the Rates Market Repriced a Fed That Refuses to Guide It

Nine days ago the market was positioned for a September rate hike. On Friday morning one payroll print flipped it to pricing…

Aug 7

Cloud & Infrastructure

Data centers, chips, and the plumbing of AI

ByteDance and TikTok logos on dashboard with Brazilian flags wind turbines server racks and world map showing cable connections

ByteDance Is Spending $39 Billion on Its Biggest Data Center Outside China, and Brazil Won the Bid

TikTok’s parent company just made the largest single infrastructure bet in Latin American history,…

By Scott Allan · Jul 3

Meta Is Building a Cloud Business to Sell Its Massive AI Computing Surplus

Mark Zuckerberg spent more than $60 billion building AI infrastructure nobody outside Meta could…

By Scott Allan · Jul 3

Bloom Energy and Brookfield Asset Management logos with 5B AI Power Deal label and upward-trending stock chart on dark navy circuit board background

Cloud & Infrastructure

Bloom Energy Stock Surges 20% as Brookfield Expands AI Data Center Power Deal to $25 Billion

Bloom Energy just landed the kind of deal that turns a fuel cell company…

By Scott Allan · Jul 2

Business

Amazon Commits $48 Billion to India by 2030 as Andy Jassy Makes His First Visit as CEO

Amazon CEO Andy Jassy met Indian Prime Minister Narendra Modi on Thursday and announced…

By Scott Allan · Jun 25

FERC seal with US power grid map showing data center interconnection nodes and 60-day deadline panels

FERC Orders Six Grid Operators to Fast-Track AI Data Center Connections or Justify Current Rules

The federal government just gave America’s largest power grid operators a 60-day ultimatum: prove…

By Scott Allan · Jun 21

AI Debt Boom: Morgan Stanley Projects $570 Billion in AI-Linked Borrowing in 2026

The AI infrastructure buildout is no longer being funded primarily from cash flow or…

By Scott Allan · Jun 11

Economy

Inflation, employment, and the real economy

Dark navy data display showing a Brent crude candlestick chart that breaks down and recovers, beside a nautical chart of a narrow strait with a dotted shipping corridor, with an oil tanker silhouette behind

Economy

Brent Crossed Back Above $80 on the Day the Hormuz Deal Looked Closest

Brent crude settled 1.49% higher at $80.54 a barrel late Wednesday, hours after Houthi forces put ballistic missiles into a Saudi oil…

Aug 6

01
Economy Q2 GDP Slowed to 1.5%, but Private Demand Jumped 3.9%: Why the Bond Market Isn’t Buying the Cooldown
Jul 30
02
Economy Fed Rate Decision Today: Warsh’s Silence Is the Only Number That Moves
Jul 29
03
Economy June Jobs Report: ADP Signals Cooling Labor Market Ahead of Today’s Payrolls Data
Jul 2

The Latest

Everything else across the newsroom

Advertising & Marketing

Nvidia’s $250 Billion Backstop for OpenAI’s Ohio Campus Says the Debt Market Already Said No

Jul 27

Nvidia Rose 3.26% the Day Washington Accused Moonshot AI of Smuggling Its Chips

Jul 22

Markets

Anthropic Above, DeepSeek Below: OpenAI’s Squeeze Is Now a $1 Trillion IPO Problem

Jul 20

Enterprise AI

Microsoft Bets $2.5 Billion on Frontier Company to Solve Enterprise AI’s Biggest Problem

Jul 5

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Breaking News

America’s Largest Power Grid Hits Emergency Mode as Record 166,304 MW Demand Collides With the AI Buildout

Jul 3

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xAI Launches Voice Agent Builder at $0.05 Per Minute, Undercutting ElevenLabs and Vapi on Price

Jul 3

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Business

The EU-US Trade Deal Just Took Effect, and the 15% Tariff Ceiling Changes Everything for Global Business

Jul 3

Chipotle Falls 9% On An Outbreak It Has Not Been Linked To Yet

Baidu’s GPU Cloud Grew 283% and Revenue Still Fell 4%, Which Is the Whole Problem

Home Depot Beat on $47.9 Billion and Still Refused to Raise Guidance, One Day Before 50% Canadian Tariffs Land

CoreWeave’s $104 Billion Backlog Is Also the Collateral for Its Debt

Reddit Joins the S&P 500 on August 18 With Its Front Door Under Google’s Control

On Holding Posted a Record 65.4% Gross Margin and Had the Worst Day in Its History

Intel Raised $20 Billion at $95 a Share for Factories Most of Its Customers Have Not Signed For

Cisco Needs $3.7 Billion of AI Orders Tonight to Make Its $9 Billion Year Work

Nvidia Just Made Its GPUs Collateral, and Six Wall Street Firms Signed On for $500 Billion

Zuckerberg’s 6,500-Word AI Manifesto Is a Pricing Attack on OpenAI and Anthropic

Brussels Wrote AI Rules a Year Ago and Only Just Got the Power to Enforce Them

Flock Safety Cut Data Retention to Seven Days Because City Councils Kept Voting No

Intel Gained 12.7% in a Week on a Customer List Nobody Will Confirm

Anthropic Is Hiring Chip Designers at $485,000 to Stop Renting Its Margin From Nvidia

Shopify Jumped 25% on AI Orders It Spent Nothing to Build

Anthropic Priced Claude Opus 5 to Cannibalize Its Own Flagship

Meta Claims Its Next AI Model Has Caught OpenAI’s GPT-5.5, Signaling a Narrowing Frontier Gap

Nelson Peltz Wants Wendy’s Private After 18 Years, a Withdrawn Outlook and a Halved Dividend

Blackstone Is Paying a 96% Premium for MarineMax Because It Is Not Buying a Boat Dealer

GameStop Told Its Own Noteholders They May Short the Stock That Prices Their Payout

Washington Will Pay RWE $1.22 Billion Not to Build 7 Gigawatts of Offshore Wind

Charts

The Tape

Cathie Wood Sold $37.5 Million of Deere to Fund Nvidia and Broadcom Buys

Coherent Fell 12% and Lumentum 7% as the AI Optics Policy Trade Unwound Into Earnings

Sam Altman Says AI Should Pace Itself, Weeks After His Models Broke Out Of Their Cage

Trump’s $1.4 Billion Crypto Disclosure Reveals the Business Model Behind His Deregulation Agenda

Payrolls Fell 23,000 and the Rates Market Repriced a Fed That Refuses to Guide It

ByteDance Is Spending $39 Billion on Its Biggest Data Center Outside China, and Brazil Won the Bid

Meta Is Building a Cloud Business to Sell Its Massive AI Computing Surplus

Bloom Energy Stock Surges 20% as Brookfield Expands AI Data Center Power Deal to $25 Billion

Amazon Commits $48 Billion to India by 2030 as Andy Jassy Makes His First Visit as CEO

FERC Orders Six Grid Operators to Fast-Track AI Data Center Connections or Justify Current Rules

AI Debt Boom: Morgan Stanley Projects $570 Billion in AI-Linked Borrowing in 2026

Brent Crossed Back Above $80 on the Day the Hormuz Deal Looked Closest

The Trade Desk Guides to a 12% Revenue Decline and Loses a Fifth of Its Value

911.5 Million SpaceX Shares Unlock Today, and Musk Is Not the One Selling

Nvidia Jumps 3.8% as Cloud Giants Line Up $886 Billion in AI Capex

Microsoft and Meta Report Tonight, and the Beat Is Already Irrelevant

The Chip Rout Is Deepening and Retail Is Googling 3x Leveraged ETFs

Nvidia’s $250 Billion Backstop for OpenAI’s Ohio Campus Says the Debt Market Already Said No

Nvidia Rose 3.26% the Day Washington Accused Moonshot AI of Smuggling Its Chips

Anthropic Above, DeepSeek Below: OpenAI’s Squeeze Is Now a $1 Trillion IPO Problem

Microsoft Bets $2.5 Billion on Frontier Company to Solve Enterprise AI’s Biggest Problem

America’s Largest Power Grid Hits Emergency Mode as Record 166,304 MW Demand Collides With the AI Buildout

xAI Launches Voice Agent Builder at $0.05 Per Minute, Undercutting ElevenLabs and Vapi on Price

The EU-US Trade Deal Just Took Effect, and the 15% Tariff Ceiling Changes Everything for Global Business