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Recent briefings
All editions ↗Daily briefing — 3 November 2026
Tuesday, 3 November 2026. Information cutoff: 06:54 GMT. Morning View The overnight evidence sharpened the market’s new dividing line: AI demand remains strong, but access to capital and control of unit economics now matter as much as revenue growth. Oracle priced a $20bn equity-and-debt raise at borrowing costs as high as 8.65%, while Apple’s record quarter was overshadowed by a holiday gross-margin reset driven by memory and AI-server costs. The…
Daily briefing — 2 November 2026
Monday, 2 November 2026. Information cutoff: 06:55 GMT. Morning View The market is no longer treating every layer of the AI buildout as a single duration trade. US technology futures have stabilized after Friday’s rout, but the rebound is selective: Kioxia fell sharply after a strong quarter because its near-term outlook implied that extraordinary memory economics are flattening, while South Korean memory leaders recovered on policy support and continued AI…
Daily briefing — 1 November 2026
1 November 2026 | Information cutoff: 06:47 GMT Morning View The weekend produced the clearest evidence yet that private capital is beginning to apply the same return discipline public markets imposed on AI equities on Friday. OpenAI has reportedly secured about $11bn against an original $30bn fundraising ambition, reduced its maximum target to $20bn and accepted a $1.25tn valuation rather than the $1.4tn it initially sought. Demand for frontier models…
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