Money, Wealth & Power—A Daily Look at the Financial World
Cuba is entering the most acute energy crisis of its post-Soviet history, with officials and outside analysts warning that the island has only a few weeks of fuel left before basic economic activity grinds to a halt. The government has survived chronic shortages for decades, but the combination of dwindling oil deliveries and new external…
Investors are pouring unprecedented sums into frontier artificial intelligence, even as doubts deepen about whether the technology can ever produce durable profits. OpenAI and Anthropic sit at the center of this contradiction, racing to scale bigger models and infrastructure while their own cost structures remain punishingly high. The result is a market where valuations and…
Mark Zuckerberg and Elon Musk are now spending like few executives in history to seize the commanding heights of artificial intelligence, with a combined outlay that approaches $155 billion. Their plans are reshaping Meta and Tesla from their original identities into infrastructure-heavy AI platforms, and forcing investors to decide whether this is visionary leadership or…
The next phase of the clean energy race in the United States is not only about producing more renewable power, it is about storing it long enough to replace fossil fuels around the clock. That is the bet behind a new $760 million factory planned by a US company that aims to manufacture long duration…
Meta is turning a blockbuster quarter into a high‑stakes wager on artificial intelligence, pairing surging profits with a plan to pour as much as $135 billion into data centers and chips. The company is effectively asking investors to look past near‑term spending pain and focus on a 2026 horizon when Mark Zuckerberg says AI will…
OpenAI is suddenly at the center of one of the largest capital races in tech history, with Nvidia, Microsoft and Amazon all circling multibillion dollar commitments. Rather than a single pooled deal, what is emerging is a loose constellation of investments that could collectively reach tens of billions of dollars and reshape who controls the…
Venezuela is throwing open the gates of its vast oil fields just as President Donald Trump threatens sweeping tariffs on any crude that keeps Cuba’s economy running. The twin moves, one inviting foreign capital and the other warning off suppliers to Havana, are colliding in a way that could redraw energy flows across the Americas….
Strong growth numbers are painting a rosy picture of the United States economy, but the person in charge of monetary policy is sounding a more sobering note. Jerome Powell is warning that a new pattern in household behavior, driven by stubborn inflation and higher borrowing costs, is quietly tightening the screws on family budgets even…
Tesla is preparing to pour more than $20 billion into a single year of capital spending, a dramatic bet that artificial intelligence, robotics, and energy infrastructure will define its future more than selling cars. The plan marks a sharp break from the company’s earlier capital discipline and signals that Elon Musk is turning Tesla into…
Norway’s $2.2 trillion oil fund has started to quietly cut back its exposure to the American tech behemoths that helped power its recent windfall gains. The shift is subtle in percentage terms but significant in signal, given the fund’s status as the world’s largest single equity investor and a bellwether for institutional risk appetite. After…