The Next AI Bottleneck Is the Fabric
For the first two years of the generative AI boom, most strategic analysis revolved around a familiar set of variables:…
Inference Makes AI a Systems Business
For much of the generative AI boom, the industry behaved as though its future would be determined by a single…
We Called It Agentic Finance. Now the Industry Is Catching Up
Every so often, a news story lands that feels bigger than the headline itself. Robinhood’s recent embrace of AI agents…
AI Is Starting to Consume the Balance Sheet
For most of the generative AI boom, the industry told itself a relatively simple story. The winners would be the…
AI Infrastructure Is Becoming Its Own Industrial System
For much of the last two years, the market has talked about artificial intelligence as though it were mainly a…
France Is Building AI as Heavy Industry
For much of the last two years, European discussion about artificial intelligence has been dominated by regulation, industrial anxiety, and…
AI Becomes a Factory Discipline
The AI boom is usually described as a race for scarce accelerators. That framing captured an important truth in the…
The AI Factory Stops Being a GPU Story
For much of the past two years, the AI boom has been narrated as a contest over accelerator access. The…
Japan’s Model Integrator Moment
For most of the generative-AI boom, the market has been narrated as a contest between labs. The industry has asked…
The New Bottleneck Is Control
For most of the last two years, the AI infrastructure story has been told as a GPU shortage story. That…
The Agentic Economy Runs on Trust
Walk into any bank and ask to open an account or transfer a large sum of money, and the first…