ipo
When Making Things Gets Cheap, the Money Runs to What Can’t Be Faked
$75 billion. That is what SpaceX raised this week, the largest public offering anyone has ever recorded. Not a valuation, not a paper number, but actual capital, handed over, in exchange for a slice of a company that builds and lands rockets. It is a strange amount to absorb in a single sitting. It is…
Five Dollars for the Future
Google quietly dropped the price of its AI Plus plan from $7.99 to $4.99 this week, and doubled the storage on the way down. Three dollars off, twice the room. It is the kind of move that looks like generosity and is actually a confession. You do not cut the price of something scarce. You…
The Month Compute Became a Currency
$920 million. That is what Google has agreed to pay, every month, for the right to run its work inside data centers built by a rocket company and tuned by a rival AI lab. Not buy the buildings. Not own the chips. Rent the heat. The number is large enough to lose its meaning, so…
The Meter Comes Back
Broadcom did something this week that sounds boring and is not. It announced a way to run AI agents with ordinary platform simplicity, packaged and secured and sitting on the same plumbing as every other web app in the building. Agent Foundations, they are calling it. Strip the branding away and the message is plain:…
Everyone Is Quietly Building Their Own Escape Route
Microsoft is building its own coding models. Not licensing them. Building them. The Information’s reporting that Microsoft is launching an AI offensive with its own coding models made it sound like a campaign, but what it actually is, is a renovation. The company is pulling out the load-bearing wall that used to be OpenAI and…
The Infrastructure Is the Argument
$340 billion a year. That is the annualized pace of US large-computer imports as of March 2026, a figure that arrived quietly in a trade data release and did not get nearly the headline it deserved. Not because it is boring, but because it is almost too clarifying. The AI boom is not primarily a…
When the Agent Gets a Wallet
Brian Armstrong posted something quietly significant last week. Google’s new Agentic Payments Protocol, AP2, runs on x402, a stablecoin rail Coinbase helped build, and Armstrong framed the combination as a new level unlocked for AI agents. The post read as a celebration. What it actually announced was structural: an AI agent can now hold funds,…
What Cerebras Pays For
Cerebras priced its IPO this week with the kind of demand that bends the usual math, and the number on the tape is the least interesting part of it. The capital it raised, and the much larger pool of capital it pulled out of the queue behind it, is doing more than funding one chip…