Today on Decoder , let’s talk about the looming AI monetization cliff, and whether some of the biggest companies in the space can become real, profitable businesses before they careen right off it. My guest today is Hayden Field, who’s our senior AI reporter here at The Verge . She’s been keeping close tabs on both Anthropic and OpenAI, and how these two companies in particular tell us a whole lot...
Today on Decoder , let’s talk about the looming AI monetization cliff, and whether some of the biggest companies in the space can become real, profitable businesses before they careen right off it. My guest today is Hayden Field, who’s our senior AI reporter here at The Verge . She’s been keeping close tabs on both Anthropic and OpenAI, and how these two companies in particular tell us a whole lot about the AI industry in 2026. You’ve certainly heard a version of the monetization cliff story before. The biggest AI firms are built off the back of hundreds of billions in capital investment, and they’re linked to even greater amounts of forward-looking investment in data center build-out, chips, and other infrastructure spend. At some point, the profits have to materialize, or the bubble pops. Maybe AGI arrives, maybe the economy crashes, who knows. You’ve heard me ask some version of this question to scores of CEOs here on this show, and a majority of them have hinted toward the bubble popping — they think some companies will fail in spectacular fashion, some will succeed, and the opportunities, especially the money, are simply too big to ignore. We’re doing this, whether we want to or not — the market depends on it. Verge subscribers, don’t forget you get exclusive access to ad-free Decoder wherever you get your podcasts. Head here . Not a subscriber? You can sign up here . So these last few weeks have felt like a very important inflection point, as both Anthropic and OpenAI have started to react to the reality of needing to go public — needing to make money, The catalyst for this change is AI agents, and products like Claude Code and Cowork, as well as the open-source OpenClaw and OpenAI’s Codex, have radically changed how these companies are thinking about their resources. And this is starting to affect how they behave — the products they support or suddenly kill, the restrictions they impose on customers, and the money they’re willing to burn toward their next big...
TYSONS, Va., April 09, 2026--Independent workforce data and direct employee feedback together confirm Cvent as a people-first employer in an era of AI-driven transformation.
TYSONS, Va., April 09, 2026--Independent workforce data and direct employee feedback together confirm Cvent as a people-first employer in an era of AI-driven transformation.
CHATTANOOGA, Tenn., April 09, 2026--Effective April 9, 2026, the Unum Group (NYSE: UNM) Board of Directors declared a quarterly dividend of $0.460 per share on its common stock to be paid May 15, 2026, to stockholders of record as of April 24, 2026.
CHATTANOOGA, Tenn., April 09, 2026--Effective April 9, 2026, the Unum Group (NYSE: UNM) Board of Directors declared a quarterly dividend of $0.460 per share on its common stock to be paid May 15, 2026, to stockholders of record as of April 24, 2026.
You're finally old enough to sign up for Social Security. You've worked long enough to qualify for checks, or you're married to a qualifying worker. You've submitted your application. Now all you have to do is sit back and wait for the money to start flowing -- except sometimes, it doesn't. There's not a lot that can stand between you and a well-earned Social Security check . But the following thr...
You're finally old enough to sign up for Social Security. You've worked long enough to qualify for checks, or you're married to a qualifying worker. You've submitted your application. Now all you have to do is sit back and wait for the money to start flowing -- except sometimes, it doesn't. There's not a lot that can stand between you and a well-earned Social Security check . But the following three things could. Image source: Getty Images. Continue reading
Tesla is considering an all-new electric vehicle, Reuters reported on Thursday. Tesla didn’t respond to a request for comment. Tesla stock was up down 1.4% at $338.50 in early trading Thursday, while the and were down 0.1%.
Tesla is considering an all-new electric vehicle, Reuters reported on Thursday. Tesla didn’t respond to a request for comment. Tesla stock was up down 1.4% at $338.50 in early trading Thursday, while the and were down 0.1%.
"Build Geothermal At Scale": Fervo Energy Locks In 1.7 GW Turbine Supply Deal With Turboden Fervo Energy and Turboden, part of the Mitsubishi Heavy Industries Group, announced a three-year framework agreement to supply Organic Rankine Cycle (ORC) turbines for up to 35 of Fervo’s standardized 50 MW GeoBlocks. The deal totals 1.7 gigawatts of carbon-free, dispatchable baseload power, marking a major...
"Build Geothermal At Scale": Fervo Energy Locks In 1.7 GW Turbine Supply Deal With Turboden Fervo Energy and Turboden, part of the Mitsubishi Heavy Industries Group, announced a three-year framework agreement to supply Organic Rankine Cycle (ORC) turbines for up to 35 of Fervo’s standardized 50 MW GeoBlocks. The deal totals 1.7 gigawatts of carbon-free, dispatchable baseload power, marking a major step toward scaling next-generation geothermal across the United States. The agreement builds directly on an earlier pact covering three GeoBlocks at Fervo’s Cape Station project in Utah, where Phase I commissioning is now in advanced stages with startup expected later this year . By locking in supply chain capacity and shortening lead times for Turboden’s proprietary ORC technology, the framework strengthens domestic manufacturing resilience and accelerates project timelines at a moment when U.S. power demand is surging from data centers and AI infrastructure. ORC units efficiently convert geothermal heat into electricity , delivering the firm 24/7 power that intermittent renewables struggle to match . Fervo CEO Tim Latimer called the collaboration with Mitsubishi Heavy Industries a key move to “strengthen the supply chain needed to build geothermal at scale.” This announcement arrives as interest in geothermal and nuclear power intensifies. With electricity demand exploding from AI and data centers, the market is showing a growing distaste for intermittent renewables that cannot guarantee reliable baseload power when needed most. We hope nobody has forgotten how (not) helpful renewable energy was during Winter Storm Fern … There’s a difference between what wind and solar promise, and what they can deliver. During Winter Storm Fern, these energy sources failed to deliver the reliable power our communities needed. It’s time for Democrats to realize our grid requires coal, natural gas, and nuclear… pic.twitter.com/mZWFpohqW0 — Energy and Commerce Committee (@HouseCommerce) ...
Klaus Vedfelt/DigitalVision via Getty Images I previously rated Intel Corporation ( INTC ) as a Hold in November 2025, attributed to the management's mixed forward guidance and their likely to be underwhelming return prospects in the intermediate term. In this article, I shall discuss why I am reiterating my Hold rating for the INTC stock, with the notable divergence between its valuations and its...
Klaus Vedfelt/DigitalVision via Getty Images I previously rated Intel Corporation ( INTC ) as a Hold in November 2025, attributed to the management's mixed forward guidance and their likely to be underwhelming return prospects in the intermediate term. In this article, I shall discuss why I am reiterating my Hold rating for the INTC stock, with the notable divergence between its valuations and its mixed fundamentals triggering a mixed return/risk reward profile. INTC Enjoys Another Recovery Tailwind INTC 1Y Stock Price (Trading View) INTC bulls have proven my prior Hold rating wrong indeed, as observed in the stock's outsized +50.7% rally compared to the wider market at -0.3%, with a similar breakout also observed in its semiconductor peers in varying degrees. 1. Terafab Opportunities Much of INTC's tailwinds is attributed to the legacy semiconductor company joining "the Terafab project alongside billionaire Elon Musk's companies SpaceX ( SPACE ), xAI ( X.AI ), and Tesla ( TSLA ) to help refactor silicon fab technology." INTC's role will be "to design, fabricate, and package ultra-high-performance chips at scale," with it expected to drive their future renewal cadence beyond their prior GPU demand headwinds and their ongoing x86 market share erosion to 70.8% in Q4'25 (-4.6 points YoY). Assuming a successful, long-term partnership, it goes without saying that INTC has found a great customer in TSLA and SpaceX, with it likely to boost the former's foundry prospects beyond the current internal consumption. This is attributed to TSLA's well diversified capabilities across: automotive - with 2.35M of installed vehicle production capacity globally (including Cybertruck), autonomous - with 1.1M of paid FSD customers globally as of FQ4'25 (+37.5% YoY), and robotics - with a "planned capacity of 1 million robots per year," with it building upon their Starlink ambitions of putting 1M satellites in space for data center/AI purposes, compared to the current 10K active satellite...
Joe Bennett says ceasefire presents ‘very opportune moment’ to raise case of his parents, Lindsay and Craig Foreman Middle East crisis – live updates The son of a British couple detained in Tehran on espionage charges has called on Keir Starmer to prioritise their case in the “very opportune moment” of a ceasefire in the Iran conflict. Lindsay and Craig Foreman, from East Sussex, were arrested whi...
Joe Bennett says ceasefire presents ‘very opportune moment’ to raise case of his parents, Lindsay and Craig Foreman Middle East crisis – live updates The son of a British couple detained in Tehran on espionage charges has called on Keir Starmer to prioritise their case in the “very opportune moment” of a ceasefire in the Iran conflict. Lindsay and Craig Foreman, from East Sussex, were arrested while on a five-day trip across Iran in January last year and have been held in Evin prison for 15 months. Continue reading...
Olemedia/E+ via Getty Images Guggenheim downgraded GitLab ( GTLB ) to Neutral from Buy, citing a more pronounced risk from artificial intelligence and a deceleration to net revenue retention. Shares were down 7% during early market action on Thursday. The investment firm also removed its $50 price target on the stock as it believes shares will remain rangebound. "When we launched coverage in Septe...
Olemedia/E+ via Getty Images Guggenheim downgraded GitLab ( GTLB ) to Neutral from Buy, citing a more pronounced risk from artificial intelligence and a deceleration to net revenue retention. Shares were down 7% during early market action on Thursday. The investment firm also removed its $50 price target on the stock as it believes shares will remain rangebound. "When we launched coverage in September 2025, we were hopeful that NRR and existing customer seat growth would be more resilient, and as a result, our FY27 estimates were materially higher (near 25% revenue growth and 20% non-GAAP operating margin)," said Guggenheim analysts Howard Ma and Joseph DiBartolomeo. " Now, we expect GitLab to ultimately grow revenue 19% this year (vs. initial guide for +16% at the midpoint) with a 14% margin (vs. guide for 12%)." Guggenheim points to decelerating NRR as well, as it was 133% in fiscal 2024, 123% in fiscal 2025, and 118% in fiscal 2026. Guggenheim estimates its fiscal 2027 NRR at 113%. "Per management, over 30% of ARR is challenged, including 20% that represents price-sensitive SMB and mid-market customers and 12% that is public sector," Ma noted. "This is due to budget dollars being allocated to AI coding tools. These vendors, including the frontier labs, are expanding deeper into DevSecOps and, we believe, will soon compete directly against GitLab. GitLab has introduced agentic solutions (e.g., CI Expert, Security Analyst) via Duo Agent Platform, but our checks indicate initial interest is limited, while management has been clear that material contribution via the new usage-based model wouldn't occur until FY28. The current seat-based model is a major limiting factor to growth, in our view." However, they pointed out that GitLab has one of the highest gross retention revenue rates, which has remained consistent at 96% to 97%. Fiscal year 2026 featured its lowest churn rate in four years. "With regard to AI coding, GitLab has introduced the concept of the 'AI parado...
Commerce.com ( CMRC ) said that Rezolve AI's ( RZLV ) takeover offer “significantly” undervalues the company, isn't attractive to shareholders, and does not warrant further engagement. The revised proposal from Rezolve ( RZLV ) is " even less favorable and implies a significant discount" to the company’s current market valuation, Commerce.com said in a statement on Wednesday. Rezolve ( RZLV ) earl...
Commerce.com ( CMRC ) said that Rezolve AI's ( RZLV ) takeover offer “significantly” undervalues the company, isn't attractive to shareholders, and does not warrant further engagement. The revised proposal from Rezolve ( RZLV ) is " even less favorable and implies a significant discount" to the company’s current market valuation, Commerce.com said in a statement on Wednesday. Rezolve ( RZLV ) earlier on Wednesday announced it was taking a takeover offer f or Commerce.com ( CMRC ) to shareholders after its original bid was rejected. Rezolve ( RZLV ) is offering 1 Rezolve share for 2 Commerce.com ( CMRC ) shares. Commerce.com fell 7.3% on Thursday, while Rezolve dropped 6.2%. More on Commerce.com, Inc., Rezolve AI Rezolve: The Story Is Compelling, But The Evidence Is Not Commerce.com, Inc. (CMRC) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript Commerce.com: Not A Solid Platform To Invest In Rezolve starts hostile offer for Commerce.com Rezolve AI FY25 GAAP revenue hits $46.8M; 2026 guidance lifted to $360M
utah778/iStock via Getty Images By Padhraic Garvey, CFA, Regional Head of Research, Americas Money markets and the Iran war – rates ultimately end up lower The Iran war manifested in a material elevation in short-term inflation expectations. The US 2y break-even (market inflation) rate is around 3.1%, and to hit that break-even average, there is the threat that actual inflation heads for 4%. Given...
utah778/iStock via Getty Images By Padhraic Garvey, CFA, Regional Head of Research, Americas Money markets and the Iran war – rates ultimately end up lower The Iran war manifested in a material elevation in short-term inflation expectations. The US 2y break-even (market inflation) rate is around 3.1%, and to hit that break-even average, there is the threat that actual inflation heads for 4%. Given that, the Federal Reserve is unlikely to cut rates. And the Fed could even come under pressure to hike rates to help face down rising inflation expectations. On the assumption that the war winds down in the next couple of weeks and the flow of vessels through the Strait of Hormuz shows a material pickup, our central view is that the Fed does not hike and instead eventually cuts in the coming quarters. Taking all into consideration, our thinking sees the funds rate unchanged for the immediate few months, with the next big moves still more liable to be lower. SOFR has become less tight, but the effective funds rate is still refusing to edge back down The effective funds rate used to trade just 8bp above the funds rate floor. The ratchet higher to 14bp through September/October 2025 prompted the policy of renewed T-bills buying. The backstory saw bank reserves dip below US$3tr, and repo had shown a marked tendency to tighten, with bank reserves at sub-US$3tr. That repo tightness, in a relative value sense, was the genesis of the rise in the effective funds rate. Rate cuts have dominated, of course, but the issue is the rise in the effective funds rate within the (25bp) funds rate range. The effective funds rate has refused to budge from the 3.64% level. And by the way, that’s just 1bp below the rate paid on reserves (3.65%). It’s actually tough to get to 3.65%, as then eligible counterparties have a choice between two windows (reserves vs. funds rate). It should not go above, though. The other competition for avenues for market liquidity is repo, as encapsulated by the SOFR r...
martinrlee Starbucks’ ( SBUX ) CEO Brian Niccol has tapped a former Chipotle ( CMG ) colleague to advance his growth strategy, hiring Stephen Piacentini as coffeehouse design and development officer. According to an internal memo viewed by The Wall Street Journal, Piacentini will be tasked with furthering Niccol’s vision of upgrading cafés to create a more engaging and inviting environment. Additi...
martinrlee Starbucks’ ( SBUX ) CEO Brian Niccol has tapped a former Chipotle ( CMG ) colleague to advance his growth strategy, hiring Stephen Piacentini as coffeehouse design and development officer. According to an internal memo viewed by The Wall Street Journal, Piacentini will be tasked with furthering Niccol’s vision of upgrading cafés to create a more engaging and inviting environment. Additionally, Chief Development Officer Meredith Sandland will transition to a new coffeehouse strategy role pertaining to café operations and economic models. More on Starbucks Starbucks: The Financial Brew Sours Starbucks Corporation (SBUX) Shareholder/Analyst Call - Slideshow Starbucks: Full Price For A Half-Brewed Turnaround Starbucks looks to compete in the energy drink market with a coffeehouse touch Starbucks transfers China operations to Boyu, aims to expand store count
Torsten Asmus/iStock via Getty Images I'm assigning a 'Buy' rating to Disco Corporation ( DSCSY ) ( DISPF ) (6146.T). DSCSY's 4th quarter preliminary numbers surpassed the management guidance. This suggests that the chances of an earnings beat in late-April have increased. In the long run, the company benefits from multiple structural technology-related trends. Corporate Overview DSCSY is describe...
Torsten Asmus/iStock via Getty Images I'm assigning a 'Buy' rating to Disco Corporation ( DSCSY ) ( DISPF ) (6146.T). DSCSY's 4th quarter preliminary numbers surpassed the management guidance. This suggests that the chances of an earnings beat in late-April have increased. In the long run, the company benefits from multiple structural technology-related trends. Corporate Overview DSCSY is described by "Karreta Advisors" as a "leader in slicing and dicing machines used in the preparation of semiconductors with 70% market share." The Firm's Role In Chip Fabrication Investor Relations Website It derived 64% of FY24 (YE end-March 2025) sales from equipment such as dicers/grinders. The remainder was attributable to consumables (22%) and maintenance parts (14%). Asia ex-Japan, North America, and Europe contributed 66%, 15%, and 9% of DSCSY's turnover during the same period. Its Japanese home market accounted for one-tenth of the group-level figure. Unconsolidated Quarterly Metrics Exceeded Expectations The company published its latest operational update on April 6. DSCSY registered a parent-only topline of ¥105B for Jan-Mar '26. This translated into sequential and year-on-year growth rates of +19% and +2%, respectively. I'm encouraged that the 4QFY25 print was also 12.9% better than management's earlier guide. At Monday's analyst call (S&P Capital IQ transcript), it explained that accelerated acceptance testing pulled revenue recognition forward. Separately, DSCSY's recent three-month deliveries jumped 28% YoY to ¥98B which is impressive in my view. That's ahead of the ¥96B internal forecast as well. Demand for its "precision processing tools" or "consumables" surprised positively in 4QFY2025 according to the enterprise's briefing comments. Favorable Read-Throughs For Upcoming Earnings Release DSCSY will be revealing the full-entity fourth quarter financials on April 22. I believe that the sell-side is too conservative. The consensus currently anticipates a 1.9% YoY top-l...
Investing.com -- Intel Corporation (NASDAQ:INTC) rose 1% Thursday, extending a rally that has seen shares surge 33% over the past five days as the chipmaker emerges as a focal point in the AI infrastructure buildout.
Investing.com -- Intel Corporation (NASDAQ:INTC) rose 1% Thursday, extending a rally that has seen shares surge 33% over the past five days as the chipmaker emerges as a focal point in the AI infrastructure buildout.
SimonSkafar/E+ via Getty Images Investment thesis Powell Industries, Inc. ( POWL ) is one of many companies competing in the hot electrical industry. With tailwinds such as the addition of data centers, maintenance and upgrades of electrical infrastructure, and more, it is a highly attractive market. To better understand Powell’s place in this industry, I compare it with Eaton Corporation plc ( ET...
SimonSkafar/E+ via Getty Images Investment thesis Powell Industries, Inc. ( POWL ) is one of many companies competing in the hot electrical industry. With tailwinds such as the addition of data centers, maintenance and upgrades of electrical infrastructure, and more, it is a highly attractive market. To better understand Powell’s place in this industry, I compare it with Eaton Corporation plc ( ETN ) and with Schneider Electric S.E. ( SBGSY )( SBGSF ), a French company with its main stock listing in France. My analysis finds Powell offers the most robust growth, with performance characteristics resembling those of hot young tech companies, while Eaton and Schneider resemble blue chip firms. About the three companies The company describes itself this way in its 10-K for 2025 , “We develop, design, manufacture and service custom-engineered equipment and systems that distribute, control and monitor the flow of electrical energy and provide protection to motors, transformers and other electrically powered equipment.” It serves multiple markets but the Houston, TX based firm reports its main interests are the oil and gas and petrochemical markets, the electric utility market, and commercial and other industrial markets. The oil and gas industry may be responsible for at least some of Powell’s overperformance, which we will see below. According to FinanceCharts , the total returns for the Energy Select Sector SPDR Fund ( XLE ), which I will use as a proxy for the oil and gas industry, are much stronger than those for the S&P 500 ( SPY ): One year: 56.76% for POWL vs 12.79% for SPY Five years: 187.93% for POWL vs 71.07% for SPY Five-year CAGR: 22.55% for POWL vs 11.48% for SPY. One of the highlights for Powell has been the growth in LNG data centers. Eaton’s 10-K for 2025 states, “We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are capitalizing on the megatrends of the electrification,...
The average of price targets set by Wall Street analysts indicates a potential upside of 33.4% in Broadcom Inc. (AVGO). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
The average of price targets set by Wall Street analysts indicates a potential upside of 33.4% in Broadcom Inc. (AVGO). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.