To paraphrase Justin Timberlake in his iconic turn in the 2010 film "The Social Network," a trillion dollars isn't cool. You know what is? $3 trillion. The big picture: That's roughly how much money seven Big Tech companies, including Google, Microsoft and Nvidia, have committed to spending on AI-related infrastructure in off-balance-sheet commitments, according to a new analysis from Morgan Stanley. - And that's on top of the estimated $770 billion in debt and lease obligations that are on the balance sheets. Why it matters: The analysis finds that the total amount of spending on AI is much bigger than the already-mind-blowing headlines suggest, and — more of a red flag — it's more leveraged than is perhaps appreciated. How it…
Data: Source: S&P Capital IQ Pro, company releases; Note: Nvidia's fiscal year runs ahead of the calendar. The quarter ended July 2026 is its Q2 fiscal 2027.; Chart: Emily Peck/Axios AI behemoth Nvidia reported blowout earnings Wednesday — exceeding Wall Street's expectations — and even jaded investors who had grown a bit immune to the company's stratospheric growth over the past year seemed to like it. Why it matters: The chipmaker's earnings are viewed as a barometer of the overall health of the AI trade. - Every three months when it reports its financials, Wall Street combs through the numbers for signs the whole shebang is slowing down. By the numbers: The numbers are bonkers. Nvidia's revenue was $96.2 billion in the second…
An immigration judge in Chicago yesterday ordered more than half a dozen unaccompanied migrant children be deported out of the country. Those kids join at least two others who were given removal orders in July. Several democratic lawmakers attended the hearing and witnessed the process firsthand, as they criticized the administration for abandoning their plan to go after the so-called "worst of the worst." MS NOW’s Nnamdi Egwuonwu joins Morning Joe from Chicago with the latest report on what happened in court.
With just 68 days until the midterms, President Trump is hitting the campaign trail for Ken Paxton in Texas. But Trump's also sharing a list of grievances with his own party, as candidates plead for his help. MS NOW White House Reporter Laura Barrón-López has more details. Senior Writer at The Dispatch David Drucker and former Senior Advisor to Kamala Harris Mike Nellis join Eugene Daniels to share their analysis.
New Home Office data reveals a significant rise in asylum seekers "dispersed" into apartments and houses across Britain, igniting protests and legal challenges in affected communities.
New Home Office data reveals a significant rise in asylum seekers “dispersed” into apartments and houses across Britain, igniting protests and legal challenges in affected communities. PULSE POINTS WHAT HAPPENED: The number of asylum seekers housed in non-hotel accommodation across Britain has risen to more than 73,000, according to new figures covering the year to June 2026. The total represents a three percent increase from June 2025 and accounts for 78 percent of all asylum seekers in the country. Around 17 percent remain in taxpayer-funded hotels. DETAIL: Hotel accommodation numbers have nearly halved over the past year, as the ruling Labour Party moves asylum seekers into apartments and houses , including so-called houses…Open
