Spirit Airlines is winding down after the biggest U.S. airline collapse in a generation. Cheap jet fuel and a blocked merger ended the ultra-low-cost bet.
Toyota has spent $10 billion building Woven City at the foot of Mount Fuji. We unpack what is…
Trump halts 165 wind farms on national-security grounds: the legal mechanism, capital-markets fallout for NextEra and Orsted, and…
Stocks, indices, and the macro tape
April 30 closed out the busiest earnings stretch of the year with a clear…
Qualcomm beat Q2 estimates, disclosed a "leading hyperscaler" custom silicon win that begins shipping…
Eli Lilly crushed Q1 2026 estimates, with Mounjaro revenue up 125% to $8.7 billion…
Apple posted a record March quarter with $111.2 billion in revenue, EPS of $2.01,…
The race to build — and regulate — intelligent machines
Elon Musk took the witness stand in Oakland Tuesday, accusing Sam Altman and OpenAI of "looting a charity." With Microsoft named as a co-defendant and the trial scheduled…
Product, platform, and the shape of the Internet
Google unveiled its eighth-generation TPU at Cloud Next 2026 with two purpose-built chips delivering…
Nine weeks after launching its first ad, OpenAI has rolled out cost-per-click pricing, onboarded…
After 15 years and a 1,000% stock gain, Tim Cook is stepping down as…
Cursor is raising more than $2 billion at north of $50 billion, doubling its…
TSMC reported a 58% year-over-year profit increase in Q1 2026, with AI and high-performance…
Kevin Weil, Bill Peebles, and Srinivas Narayanan all exited OpenAI on the same day.…
Deals, earnings, and corporate strategy
Caterpillar shares surged more than 9% to a record high after Q1 earnings crushed estimates, with construction revenue up 38% and power and energy up 22%. The real…
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Open the Tape →Arguments, essays, and deep dives
Brent crude touched $126 a barrel overnight, the highest since 2022, as the Strait of Hormuz remained closed for a second straight month. California gas crossed $6 a gallon. Trump…
Digital assets, tokenization, and the on-chain economy
Regulation, geopolitics, and capital in Washington
Data centers, chips, and the plumbing of AI
GE Vernova surged 12% to an all-time high as Q1 orders jumped 71% to…
Meta expanded its CoreWeave partnership by $21 billion to a total of $35 billion…
The tech industry just had its worst quarter for jobs since the dot-com crash.…
Oracle has begun cutting up to 30,000 employees, roughly 18.5% of its global workforce,…
French AI startup Mistral just completed its first major debt raise, $830 million backed…
Jensen Huang takes the stage at GTC 2026 with 30,000 attendees watching. The Vera…
Inflation, employment, and the real economy
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