Data: Company reports, Funda via "Key Context"; Chart: Ben Berkowitz/Axios AI revenue is accelerating so fast that it's starting to dwarf some of the world's most recognizable brands. Why it matters: AI infrastructure spending forecasts in the trillions of dollars start to make at least a little more sense when investors see how they're paying off. By the numbers: OpenAI and Anthropic, combined, are on track for an annual revenue rate of about $120 billion, "Key Context" Substack author Tae Kim noted on Monday, via data from AI investment research platform Funda . - Anthropic makes up about 60% of that, given the company's lead with corporate customers (a lead that OpenAI is working to shrink). - Both would land in the Fortune 500's …
Energy — whether it be oil for cars or power for data centers — is suddenly the world's biggest constraint. Why it matters: Energy is becoming the singular driver of both global stability and economic growth. - Oil shocks from the Iran war are rippling through inflation and geopolitics. - The AI boom is triggering a global race for electricity that grids aren't ready for. The big picture: Energy is the thing we all need but don't notice until it's gone or expensive. - We're confronting both unprecedented scarcity and demand for energy on a timeline that's considered remarkably sudden for the usually slow-moving energy sector. Driving the news: Higher oil prices fueled by the Iran war are the main driver behind inflation, with the…
President Trump flew to Beijing on Tuesday under some of the darkest economic clouds of his political career, leaving behind a country reeling from the cost of everyday life. Why it matters: The bottom is falling out on Trump's economic credibility — the central promise of his return to power. The inflation crisis that doomed his predecessor suggests he may not recover. A new CNN poll found that 70% of Americans disapprove of Trump's handling of the economy — a benchmark that never crossed 50% in his first term, even during the pandemic. - 77% of Americans, including a majority of Republicans, say Trump's policies have driven up the cost of living in their own community. Driving the news: For now, Trump appears unconcerned,…
