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Five cloud giants are sacrificing their returns to prop up the AI boom
Catch up on global daily news
Compelling long reads
Future-gazing analysis, predictions and speculation
Tune into captivating conversations
Watch engaging short films

The result is increasingly unsettling

Their leveraged bets on the software industry may soon cause big trouble

Figma crushed, Eudia attacks, AI winter lessons. Plus: Apple, C3, Meta, Mistral, Scale, Streameast, xAI in Fortune's flagship…

As data centres get more energy-hungry, the hyperscalers get more creative

Entrepreneurs, exchange operators and AI firms are creating tradable instruments backed by processing power

Entrepreneurs, exchange operators and AI firms are creating tradable instruments backed by processing power