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Markets & Crypto

Market and crypto news that matters for AI traders, sourced and labeled confirmed or unconfirmed.

The Bubble QuestionIs AI a bubble? Big Tech's cash flow statements answer part of it

Bubble arguments usually start with prices. We started with the companies' own cash flow statements. They do not say whether AI stocks are overvalued, but they show a clear shift: the AI buildout now consumes nearly all the cash the biggest spenders generate, and the rest is being borrowed.

96%Q2 2026 capex as a share of operating cash flow, four hyperscalersContext: n=4 companies · Apr to Jun 2026 · company cash flow statements, SEC filings · margin: not applicable, reported figures

69%Same ratio in Q2 2025Context: n=4 companies · Apr to Jun 2025 · company cash flow statements, SEC filings · margin: not applicable, reported figures

-$5.9BAlphabet's Q2 2026 free cash flow, its own figure

Markets & Crypto · Oct 14, 2026

The Bubble QuestionWhat the IMF and central banks actually measured on AI valuationsOct 14, 2026
AI in BankingBanks raced on AI in 2026. Only 1% of their use cases show a dollar return.Oct 14, 2026
Market StructureTen AI stocks now weigh almost a third of the S&P 500Oct 14, 2026
Crypto x AI32 AI crypto trading methods went live. None beat holding Bitcoin.Oct 13, 2026
Crypto x AIAI agents made 137 million crypto payments. Most were not agents paying anyone.Oct 2, 2026
Earnings, DecodedNVIDIA's $96 billion quarter, read from the filingsSep 29, 2026
AI CapexBig Tech spent $165 billion on AI buildout in one quarterSep 26, 2026
Crypto x AI10,000 AI agents registered on Ethereum. 19 show signs of real activity.Sep 22, 2026
Crypto x AIAI-linked crypto scams took in 4.5 times more per operationSep 15, 2026

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