zorazhuang/iStock via Getty Images Plains All American Pipeline ( PAA ) and Plains GP Holdings ( PAGP ) were downgraded Wednesday to Underperform from Neutral with a $19 price target at Bank of America, which said Plains has been the top-performing MLP in BofA's coverage in recent months, up ~8.5%, but the bank does not see a materially changed outlook, given that it is 100% crude-based. BofA's Jean Ann Salisbury said she is extremely bullish on gas-to-oil ratio growth in the Permian Basin, but she believes Permian oil will plateau and then fall in the 2030s, making a re-rate difficult for Plains ( PAA ), adding that overbuilt natural gas liquids pipelines further remove an "escape valve" for crude overbuild, and the new, lower FERC PPI adder creates less upside from inflation. Salisbury sees Plains All American's ( PAA ) EBITDA coming in flat at ~$2.6B through the end of the decade; at $200M well connect growth capex, "this drives ~$1.90/share (9.7%) and closer to 8.7% if they must spend to expand EPIC... compared to other peers with more contracts or terminal value (for example, Cheniere can pay 9% on just contracted EBITDA between dividends and buybacks), we believe PAA/PAGP is less attractive for the risk," meriting the downgrade. More on Plains All American Pipeline Plains All American: The High-Yield Crude Option Plains All American: Post-Canada Sale And EPIC Acquisition Plains All American: Quality MLP Play With Good Income Growth Expected In 2026

格隆汇1月29日｜美国参议院多数党领袖图恩：希望在这里完成拨款法案，而不是送回众议院。

格隆汇1月29日｜美国参议院多数党领袖图恩：渴望听到民主党人对拨款法案的要求。

格隆汇1月29日｜美联储理事沃勒对本次美联储决议持反对意见，支持降息25个基点后，预测网站Kalshi显示，其获得美联储主席提名的机会上从8%上升到了15%。

Labour has launched an attack on the Green party for wanting to legalise drugs, as the parties vie to be seen as the main leftwing contender against Reform UK in the Gorton and Denton byelection. The party is pursuing a strategy of trying to sideline Zack Polanski’s party after warnings Labour was too slow to pitch itself as the “Stop Reform” party in Caerphilly, which was won by Plaid Cymru. With the contest looming in late February, Keir Starmer is facing a huge battle to retain Gorton and Denton, despite Labour’s 13,000 majority, after blocking the popular Greater Manchester mayor Andy Burnham from running as its candidate. The Greens and Reform believe they have a chance of taking the seat. Labour launched targeted online adverts in the area this week, aiming to highlight Polanski’s policy, which the party describes as wanting to “legalise all drugs”, with a Labour spokesperson branding this “extreme and dangerous”. The party has not yet picked its own candidate. The Greens hit back, saying “attempting to weaponise the very serious public health issue of drugs is an insult to the families of the thousands of people who die of drug-related deaths every year”. Launching Labour’s advertising van in Gorton, Lucy Powell, the party’s deputy leader dismissed claims the Greens would be the main opposition to Reform on polling day. “I think there’s been some mixed messages and there’s been some things coming through in the media, but the Greens can’t win here,” she said. “So voting Green is really risky because it risks letting Reform in. We lost a byelection in Runcorn, not that far from here, by six votes because people voted Green. And that Reform MP in Runcorn, she’s going around saying she doesn’t want to see black and brown people on the telly.” She added: “That’s what happens if people vote for any other party other than Labour in this straight fight between Labour and Reform. There are no Green councillors across this constituency at all; we are very strong on th...

Key Points SoundHound is growing rapidly, but it’s still posting steep losses. SoundHound’s stock isn’t cheap, and it hasn’t proven its business model is sustainable. Apple, which weaves Siri across its walled garden, might be a better voice AI play. 10 stocks we like better than SoundHound AI › SoundHound AI (NASDAQ: SOUN), a developer of audio and speech recognition tools, grew rapidly in recent years as more companies launched their own AI-powered voice services. Its namesake app can identify songs from just a few seconds of recorded audio or a few hummed bars. Still, it generates most of its revenue from Houndify -- a developer platform for creating customized voice recognition apps that aren't tethered to big tech companies. SoundHound already serves automakers like Stellantis, quick-serve restaurants like Chipotle, and credit card giants like Mastercard. Over the past two years, it acquired the AI restaurant services provider SYNQ3, the online food ordering platform Allset, the conversational AI company Amelia, and the customer service AI company Interactions to increase its exposure to the restaurant and AI chatbot industries. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » From 2020 to 2024, SoundHound's revenue grew at a CAGR of 60%. From 2024 to 2027, analysts expect its revenue to grow at a 49% CAGR to $283 million, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) turning positive in the final year. That makes SoundHound one of the market's fastest-growing AI stocks, but it's also valued accordingly. With a market capitalization of $4.18 billion, it trades at 18 times its 2026 sales. It's also increasingly dependent on acquisitions to offset its slowing organic growth, and its gross margins are declining. It's expected to remain unprofitable under generally accepted accounting principles (GAAP) through 2027. It's also more than doub...

Watch Live: Fed Chair Powell's First Presser Since Grand Jury Subpoena After the 'nothing burger' of a Fed Statement ( as expected ) - no change in rates (but two dovish dissents) along with an upgrade for growth and optimism for the labor market (while inflation remains 'elevated') - the key issue that Chair Powell will likely address at his press conference is how long the Fed will remain on hold. Most economists forecast the Fed will cut twice this year, most likely at the June and Sept meetings, and the question is will Powell hint at any monetary action sooner (before he leaves his seat as Chair) or later... Josh Jamner, senior investment strategy analyst at ClearBridge Investments, said Powell likely did not want to pre-commit especially given that two payroll and CPI prints are set to be released before the next meeting. “We believe the greatest potential for market-moving news could come from the press conference, where politically-focused questions around the subpoena video and the Lisa Cook court case are likely.” Will Powell mention the dollar? Former Fed Vice Chair Richard Clarida told Bloomberg TV that he doesn’t expect Powell to touch the dollar question if asked today: “The Fed tries to stay out of any and all discussions about the exchange rates,” he says. Additionally, will Powell make any mention of his plans to remain on The Fed? Or who his replacement will be (with Rick Rieder currently the unexpected front-runner across prediction markets)... Interestingly, after Chris Waller's dissent, his odds were bid up of getting The Fed Chair job... Will Powell discuss the current probe (and grand jury subpoenas) concerning alleged misstatements (during Congressional hearings) surrounding the stunning $2.5 billion renovation of The Fed's headquarters. And one more thing, will Powell be asked about Lisa Cook after his appearance at her Supreme Court hearing last week? That's a lot of 'non-monetary policy' malarkey for the reporters to chew on... will they a...

aristotoo/iStock via Getty Images The Federal Reserve’s FOMC announced on Wednesday that it is keeping its policy rate intact at 3.50%-3.75%, as widely expected, and the U.S. markets were mixed. The S&P 500 ( SP500 ) was last around -0.1% in afternoon trade, while the Nasdaq Composite (COMPIND) was +0.2%, and the Dow ( DJI ) was flat. On the other hand, the bond market turned higher. T he 10-year Treasury yield ( US10Y ) was 2 basis points higher at 4.27%, while the 2-year yield ( US2Y ) rose by 1 basis point to 3.60%. Among the votes, two FOMC members dissented from the majority; those were Stephen I. Miran and Christopher J. Waller. Both preferred to cut the target range by 25 basis points. “The Federal Open Market Committee kept its federal funds policy rate in a range between 3.5% and 3.75% while signaling that the central bank is in no rush to reduce the policy rate given the strong underlying condition of the economy despite a slower pace of hiring and inflation well above the Fed’s 2% target,” said Joseph Brusuelas, principal and chief economist at RSM US. “The committee appears quite comfortable with the bottom range of 3.5% near the central bank's estimate of the neutral rate of 3%—we think it’s 3.5%—so the wait-and-see stance of the FOMC until further notice is going to be the narrative despite the two dissenting votes to the policy decision,” he added. According to Justin Wolfers, professor at the Gerald R. Ford School of Public Policy at the University of Michigan, and senior fellow at the Peterson Institute for International Economics, the FOMC’s revised statement “shows some optimism that unemployment may stop rising, but pessimism that inflation remains above target.” The post-meeting statement read that “economic activity has been expanding at a solid pace…job gains have remained low, and the unemployment rate has shown some signs of stabilization,” while “inflation remains somewhat elevated.” “We expect the economy is going to run hot—closer to 3% i...

Investors are souring on the bonds of software companies that service industries ranging from automotive to finance as fast-paced artificial intelligence innovations threaten to upend their business models. Prices on Rackspace Technology Global Inc. , McAfee, ION Platform Investment Group and CDK Global’s debt were tumbling this week. ION Platform’s euro-denominated bonds notched their steepest drop on record Wednesday, sending prices to the lowest since being issued in October, while the financial data and software company’s dollar notes due in 2032 lost as much as 4.25 cents on the dollar to trade around 87 cents, according to Bloomberg-compiled pricing. Rackspace’s roughly $318 million first-lien bond due in 2028 was bid at 25 cents Wednesday, down from 30.5 cents on Monday, according to a broker run seen by Bloomberg. Bond prices tumbled as advances in artificial intelligence rack up. Google announced plans to launch an AI assistant to browse for internet surfers Wednesday while a customer support startup, Decagon AI Inc., raised a new round of funding. Such developments are further stoking the angst about AI displacing enterprise software companies, driving a selloff in the sector’s stocks and bonds across the globe. “Software multiples have compressed amid uncertainty around whether incumbents can defend pricing power and sustain growth in an AI-first work-flow environment,” wrote Bruce Richards , chief executive officer and chairman of Marathon Asset Management, in a LinkedIn post last week. The 7.25% bonds due in 2029 of CDK Global, a software provider for the auto sector, fell 3.6 cents Wednesday while cybersecurity firm McAfee’s tumbled more than 4 cents this week. Cerved Group SpA ’s bonds also weakened, putting the securities of the ION-owned company among the worst performers across the European high-yield space on Wednesday. Some say the AI fears weighing on software companies are overdone. “While point-solution software faces disruption risk, large co...

The US Federal Reserve held interest rates steady on Wednesday at its first policy gathering this year, citing robust economic growth, as the central bank resists US President Donald Trump’s mounting pressure for cuts. The Fed’s 10-2 vote maintains rates at a range between 3.50 per cent and 3.75 per cent, an outcome that was widely expected as officials await more data on the world’s biggest economy. In a statement on its decision, policymakers flagged that economic activity has been “expanding at a solid pace”, while the unemployment rate showed some “signs of stabilisation”. Advertisement But the Federal Open Market Committee saw two dissents. Fed Governor Stephen Miran, alongside Christopher Waller – who is seen as a potential candidate to succeed chairman Jerome Powell – both backed a quarter-percentage-point rate cut instead. Fed Governor Stephen Miran gives a lecture at the National Gallery in Athens on January 14. Photo: AFP The Fed has made quarter-point cuts at its last three policy meetings as officials worried about the cooling jobs market.

Source: Bloomberg, 26:58

格隆汇1月29日｜美联储FOMC声明对比：经济以“稳健”步伐扩张，删除有关就业下行风险已上升的表述。

Mikhail Yakovlev/iStock via Getty Images Shares of Construction Partners ( ROAD ) have seen continued gains. This came after I concluded that the company was paving the road for continued growth at the end of 2024. This was driven by solid growth, strategic acquisitions, and a strong position in the Sunbelt states, yet valuations were simply too demanding for me to get involved at a 50 times earnings multiple. Forwarding a little over a year, the company continues to deliver on savvy M&A and strong organic growth, and while shares have seen impressive gains, multiples have come down meaningfully. This is to be applauded, as the business has much larger ambitions, making me more upbeat on the business and investment; I'm just awaiting better entry levels to get involved. Built From Scratch Construction Partners was purposely built in 2001, based on a 3-point thesis. These points include partnering with experienced operators, offering infrastructure services to meet essential needs, and focusing on fragmented industries with a long runway for growth. The market for asphalt is huge, with 94% of U.S. roads made from asphalt. These roads are, on average, in pretty mediocre shape while requiring regular maintenance. Continued increases in traffic numbers and increased weight of vehicles contribute to higher wear of these roads. Furthermore, the company apparently focuses on the Sunbelt states, which enjoy above-average population growth. By now the business employs nearly 7,000 workers, who operate in 8 states, including the great state of Texas as well as a range of states in the southeastern parts of the nation. The company has over a hundred hot mix asphalt plants, 17 aggregate facilities, as well as some AC terminals. The company went public in 2018 at levels in the low teens, as the company has made numerous acquisitions to expand the business over time. Still just a $25 stock in 2023, real momentum pushed shares up to a high around $100 late in 2024 to a high near $...

Do yourself a favor. Take a closer look at this out-of-favor investment. I see you, straddling the fence. You're attracted to Sirius XM Holdings (SIRI +0.27%) as your potential next investment, possibly for some of the reasons that I'm about to spell out. I can also probably guess what's holding you back. You've seen revenue and subscriber counts go the wrong way. Why would anyone pay for a satellite radio subscription when there are so many cheaper and more diverse audio content offerings? I'm going to address those points, too. That's enough of a setup. Let's dive into the five reasons why you might want to buy Sirius XM like there's no tomorrow. Let's dive in -- today. 1. Sirius XM is still making a lot of money The bearish knocks are fair. The platform's subscriber count peaked at 34.9 million by the end of 2019. Annual revenue topped out three years later, at $9 billion for all of 2022. You might be wondering why the money coming in continued to grow as the subscriber count began to erode, and that's a good kind of wonder to have. Sirius XM has been able to gradually grow its average revenue per user (ARPU). Despite waves of promotional activity, rates have been inching higher. Sirius XM has also gotten better about selling its available radio ad space. Monthly ARPU at the end of 2019 was $13.82. It has risen to $15.19 for its latest quarter. The other factor making this one of the longest fadeouts in radio history is that the business is only taking small steps back. Six years since peaking shy of 35 million accounts, the platform is still serving 33 million subscribers. In terms of revenue, despite a third consecutive year of decline, trailing revenue of $8.55 billion is just 5% below its 2022 peak. Toss in a company making operational improvements, and Sirius XM remains highly profitable. It continues to top $1 billion in annual free cash flow, with a forecast to grow that haul from $1.2 billion today to $1.5 billion in 2027. 2. Its content keeps growing How...

NuScale Power (NYSE: SMR) has been a divisive stock since its public debut in May 2022. The bulls were impressed by the disruptive potential of its small modular reactors (SMRs) to change the status quo in the nuclear power industry while the bears claimed that its business model was unsustainable, its future was murky, and the stock's valuation was too high. At first, the bears' view dominated, and the stock sank over the year and a half that followed its IPO. But over the past 12 months, shares of NuScale surged by more than 330% as some of those bearish concerns faded. Should investors chase that rally right now? Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » What does NuScale Power do? NuScale's SMRs can be installed in vessels that are as small as nine feet wide and 65 feet high, and the modular pieces are pre-fabricated, so they can be delivered and assembled on site. That flexibility will enable nuclear power companies to site them in locations that aren't well-suited for larger nuclear reactors. NuScale produces the only SMRs that have been certified with a Standard Design Approval (SDA) from the U.S. Nuclear Regulatory Commission. However, that certification only covers reactors that can generate up to 50 megawatts (MW) of electricity. For its reactor clusters to be more cost-effective than coal, they must each generate at least 77 MW of electricity. NuScale expects the long-awaited Nuclear Regulatory Commission review of its 77 MW module to conclude by mid-2025. During its fourth-quarter conference call, CEO John Hopkins predicted that approval would enable it to serve a "broader spectrum of customers while enhancing economic efficiency." It would also widen the company's moat against its potential competitors. In 2023, soaring costs forced NuScale to cancel its plan to build six nuclear reactors in Idaho through 2030. It laid off more than 40% of its employees in ear...

格隆汇1月29日｜美国国会预算办公室（CBO）预估2025年6月至12月期间，美国国民警卫队和军队部署到美国各城市耗资4.96亿美元。

格隆汇1月29日｜ClearBridge Investments高级投资策略分析师Josh Jamner表示，鲍威尔可能不想做出预先承诺，尤其是考虑到在下次会议之前将有两份非农就业数据和CPI数据公布。Jamner成：“我们认为，最具市场影响力的消息可能来自新闻发布会，届时可能会出现围绕传票事件和库克法庭案件等政治导向的问题。”

格隆汇1月29日｜高盛分析师凯·哈伊表示，鉴于强劲的经济数据以及劳动力市场出现稳定的迹象，美联储很可能会暂时保持政策不变。然而，我们预计降息政策将在今年晚些时候重新启动，因为通胀的放缓使得美联储能够再进行两次“正常化”降息，从而使利率回落到联邦公开市场委员会成员所认为的中性水平。

格隆汇1月29日｜前美联储副主席Richard Clarida表示，他预计鲍威尔在今天的提问环节中不会触及美元问题。他说：“美联储试图避开任何及所有关于汇率的讨论。”

The US Department of Commerce is preparing to open a national artificial-intelligence center in San Francisco, putting it closer to firms at the center of some of the government’s most high-profile initiatives. In addition to the Bay Area, AI export officials will be based in cities across the US, according to a Commerce official, who asked not to be identified. The Trump administration is looking to increase the country’s edge in AI and defense, industries that are largely based in California. It also aims to exploit natural resources in the state to increase the nation’s energy independence and bolster its geopolitical leverage. The president has engaged in recent public spats with California Governor Gavin Newsom — who’s weighing a presidential run — and sought to wield more influence in state matters. In recent weeks, the administration has intervened in key energy projects there, including a hydro-power dam, bans on natural gas and an oil pipeline. This month, Commerce Secretary Howard Lutnick also announced a key trade deal with Taiwan, with the self-governed island’s technology industry committing to making at least $250 billion in direct investments to expand advanced semiconductor, energy and AI operations in the US. Read More: Trump Plan Targets Florida, California for Coastal Oil Drilling

提醒：北京时间03:30，美联储主席鲍威尔举行例行新闻发布会。

March NY world sugar #11 (SBH26) today is down -0.15 (-1.01%), and March London ICE white sugar #5 (SWH26) is down -3.70 (-0.90%). Sugar prices are moving lower today, with London sugar falling to a 2.5-month low. Higher global sugar production has been pressuring prices. Last Wednesday, Unica reported that Brazil's cumulative 2025-26 Center-South sugar output through December rose by +0.9% y/y to 40.222 MMT. Also, the ratio of cane crushed for sugar rose to 50.82% in 2025/36 from 48.16% in 2024/25. Don’t Miss a Day: The India Sugar Mill Association (ISMA) reported last Monday that India's 2025-26 sugar output from Oct 1-Jan 15 is up +22% y/y to 15.9 MMT. The ISMA on November 11 raised its 2025/26 India sugar production estimate to 31 MMT from an earlier forecast of 30 MMT, up +18.8% y/y. The ISMA also cut its estimate for sugar used for ethanol production in India to 3.4 MMT from a July forecast of 5 MMT, which may allow India to boost its sugar exports. India is the world's second-largest sugar producer. Sugar prices have been weighed down amid prospects of higher sugar exports from India, after India's food secretary said the government may permit additional sugar exports to reduce a domestic supply glut. In November, India's food ministry said it would allow mills to export 1.5 MMT of sugar in the 2025/26 season. India introduced a quota system for sugar exports in 2022/23 after late rain reduced production and limited domestic supplies. The outlook for a global sugar surplus is bearish for prices. Covrig Analytics on December 12 raised its 2025/26 global sugar surplus estimate to 4.7 MMT from 4.1 MMT in October. However, Covrig projects that the 2026/27 global sugar surplus will fall to 1.4 MMT, as weak prices discourage production. The outlook for record sugar output in Brazil is bearish for prices. Conab, Brazil's crop forecasting agency, on November 4 raised its Brazil 2025/26 sugar production estimate to 45 MMT from a previous forecast of 44.5 MMT. The outl...

March arabica coffee (KCH26) today is down -14.50 (-3.95%), and March ICE robusta coffee (RMH26) is down -142 (-3.32%). Coffee prices gave up an early advance today and fell sharply after the Brazilian real (^USDBRL) retreated from a 20-month high and turned lower, sparking long liquidation in coffee futures. The weaker real encourages export sales by Brazil's coffee producers. Arabica coffee initially climbed to a 2.5-week high today, and robusta rose to a 1.75-month high before turning sharply lower. Don’t Miss a Day: Shrinking Brazilian coffee exports are supportive of coffee prices. Cecafe reported last Monday that Brazil's total Dec green coffee exports fell -18.4% to 2.86 million bags, with arabica coffee exports down -10% y/y to 2.6 million bags and robusta coffee exports down -61% y/y to 222,147 bags. Below-average rainfall in Brazil, the world's largest arabica producer, is supportive for coffee prices. Somar Meteorologia reported last Monday that Brazil's largest arabica coffee-growing area, Minas Gerais, received 33.9 mm of rain during the week ended January 16, or 53% of the historical average. The recovery in ICE coffee inventories is negative for prices. ICE-monitored arabica inventories fell to a 1.75-year low of 398,645 bags on November 20, but recovered to a 2.5-month high of 461,829 bags on January 14. Also, ICE robusta coffee inventories fell to a 1-year low of 4,012 lots on December 10 but recovered to a 1.75-month high of 4,609 lots last Friday. The outlook for ample coffee supplies is a bearish factor for prices. On December 4, Conab, Brazil's crop forecasting agency, raised its total Brazil 2025 coffee production estimate by 2.4% to 56.54 million bags, from a September estimate of 55.20 million bags. Soaring coffee exports from Vietnam, the world's largest robusta producer, are bearish for robusta prices. Vietnam's National Statistics Office reported on January 5 that Vietnam's 2025 coffee exports jumped by +17.5% y/y to 1.58 MMT. Increased Vi...

Meta announced Wednesday that it will charge developers for running chatbots on WhatsApp in regions where regulators are forcing the company to allow them. The move comes after the company’s ban on third-party chatbots on WhatsApp took effect on January 15. For now, Meta will charge developers in Italy, where the country’s competition watchdog asked the company to suspend its policy last December. The company said that the new pricing for non-template responses will begin on February 16. Meta plans to charge $0.0691/ €0.0572 / £0.0498 per message to developers for AI responses. This could result in steep bills for developers if users are exchanging thousands of queries with AI chatbots every day. Earlier this month, Meta sent notices to developers creating an exemption for Italian phone numbers and allowing AI chatbots to serve those customers. At that time, the company didn’t mention any plans to charge developers. Currently, WhatsApp already charges companies for using its API for various template responses to customers, which include use cases like marketing, utility, or authentication. This includes messages users receive about payment reminders and shipping updates. “Where we are legally required to provide AI chatbots through the WhatsApp business API, we are introducing pricing for the companies that choose to use our platform to provide those services,” a Meta spokesperson told TechCrunch. This could also establish a precedent for other geographies if Meta has to cave in and allow developers to operate their chatbots. Meta first announced this past October that it would block all third-party AI chatbots from using WhatsApp through its WhatsApp Business API. Meta said its systems weren’t designed to handle responses from AI bots and were being strained. Techcrunch event Disrupt 2026 Tickets: One-time offer Tickets are live! Save up to $680 while these rates last, and be among the first 500 registrants to get 50% off your +1 pass. TechCrunch Disrupt brings top...

Meta announced Wednesday that it will charge developers for running chatbots on WhatsApp in regions where regulators are forcing the company to allow them. The move comes after the company’s ban on third-party chatbots on WhatsApp took effect on January 15. For now, Meta will charge developers in Italy, where the country’s competition watchdog asked the company to suspend its policy last December. The company said that the new pricing for non-template responses will begin on February 16. Meta plans to charge $0.0691/ €0.0572 / £0.0498 per message to developers for AI responses. This could result in steep bills for developers if users are exchanging thousands of queries with AI chatbots every day. Earlier this month, Meta sent notices to developers creating an exemption for Italian phone numbers and allowing AI chatbots to serve those customers. At that time, the company didn’t mention any plans to charge developers. Currently, WhatsApp already charges companies for using its API for various template responses to customers, which include use cases like marketing, utility, or authentication. This includes messages users receive about payment reminders and shipping updates. “Where we are legally required to provide AI chatbots through the WhatsApp business API, we are introducing pricing for the companies that choose to use our platform to provide those services,” a Meta spokesperson told TechCrunch. This could also establish a precedent for other geographies if Meta has to cave in and allow developers to operate their chatbots. Meta first announced this past October that it would block all third-party AI chatbots from using WhatsApp through its WhatsApp Business API. Meta said its systems weren’t designed to handle responses from AI bots and were being strained. “The emergence of AI chatbots on our Business API put a strain on our systems that they were not designed to support. This logic assumes WhatsApp is somehow a de facto app store. The route to market for AI com...