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   The AI boom gets weirder
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   Plus: More Wall Street worries.
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          Friday, March 20, 2026
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           The AI 
spending spree just keeps getting weirder
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          AI is everywhere. So Silicon Valley set out to buy more chips and build more server farms. But now it has started redrawing whole sections of the economy around AI's appetite. The tech has reached an aisle with gas turbines, sovereign wealth funds, jet engines, and billion-dollar 
arguments over whether the reigning model-building gospel has been headed down the wrong runway all along.
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          Neighboring industries keep waking up to discover they've been drafted into the AI economy. A supersonic-jet startup has a $1.25 billion order to power AI data centers. Google has bought an energy developer. Meta has helped turn a Louisiana data center into a $27.3 billion private-debt spectacle. And Yann LeCun, after years of insisting that Silicon Valley's favorite AI assumptions have limits, has raised $1 
billion to chase "world models," instead.
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          AI capital is still buying the familiar hardware. But it's also wandering into stranger territory with the swagger of a rich industry that's getting even richer and has stopped asking whether something belongs in the AI story and started asking whether it can be bent to the AI story fast enough to secure more power or more time. Silicon Valley isn't choosing between "scale harder" and "the LLM paradigm is intellectually busted." The same ecosystem is writing checks to the lab 
buying gigawatt-scale compute and to the lab arguing next-token prediction will not get you to broadly capable agents.
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          The anti-casino is still being financed with casino money.
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               Start learning AI in 2026
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                             <!--[if mso]><a 
href="https://www.ne16.com/t/10460307/222404108/8881421/2/1009235/?308eb2e4=OTQ3NDE4ZDNAdWlmZWVkLmNvbQ&f5d63f87=REIlMjAwMy0yMCUyMC0lMjBVUw&x=10f283ab" target="_blank" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 18px; font-weight: bold; border: none; display: block; ">Join 1 million 
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           Today's
Poll
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           Will AI capex eventually slow down?
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                            Yes, liquidity will dry up
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                           <!--<![endif]-->
                           <!--[if mso]><a href="https://www.ne16.com/t/10460307/222404108/9401744/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwMy0yMCUyMC0lMjBVUw&x=a0f0080a" target="_blank" 
style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 12px;  border: none; display: block; ">Yes, liquidity will dry up</a><![endif]-->
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                       <table bgcolor="#105C8E" cellpadding="0" cellspacing="0" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; " width="100%">
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                          <td align="center" bgcolor="#105C8E" style="text-align:center;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-family:Arial,Helvetica,sans-serif;font-size:15px">
                           <!--[if 
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                            No, circular deals are inevitable
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                           <!--[if mso]><a href="https://www.ne16.com/t/10460307/222404108/9401745/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=REIlMjAwMy0yMCUyMC0lMjBVUw&x=a67016a9" target="_blank"
style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 12px;  border: none; display: block; ">No, circular deals are inevitable</a><![endif]-->
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            <td class="td100" colspan="2" style="background-color:#EFEFEF;width:33.3333%;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:15px">
             <a aria-label="Krisztian Bocsi / Bloomberg via Getty Images" style="color:#105C8E;" target="_blank" title="Krisztian Bocsi / Bloomberg via Getty Images">
              <img alt="Krisztian Bocsi / Bloomberg via Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252Foil%2520prices%2520iran%2520war.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzQwMDEzODMuNzM4NzI4NX0:1w3WnX:YGOD4IjRfF2dAbAiCUUwkOB9Y-pTxAB1TZhOTTvQxik" style="width:200px;max-height:338px;vertical-align:middle;border:0;" width="200"/>
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               <a data-linktext="Oil soars near $120 a barrel as the Iran war turns to energy sites." data-linktype="Normal" style="color:#105C8E;" target="_blank">
                Oil soars near $120 a barrel as the Iran war turns to energy sites.
               </a>
              </strong>
              <span style="color:#000000">
               Brent crude climbed as high as $119 a barrel Thursday after Iran launched missile strikes on 
energy facilities across the Gulf region, marking a significant escalation in the war and raising fears of prolonged damage to global energy infrastructure.
               <span class="ql-cursor">
                
               </span>
              </span>
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             <a aria-label="Luke Hales / Getty Images" style="color:#105C8E;" target="_blank" title="Luke Hales / Getty Images">
              <img alt="Luke Hales / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2229448196.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzQwMDEzODMuNzM4ODU3N30:1w3WnX:mIgqQ3vy3UZakGqOT2nCLBH-4jOQk9XbQAteFgJBDM4" style="width:200px;max-height:338px;vertical-align:middle;border:0;" width="200"/>
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             <div style="line-height: 1.4">
              <strong>
               <a data-linktext="Crypto.com is the latest company blaming AI for mass layoffs." data-linktype="Normal" style="color:#105C8E;" target="_blank">
                Crypto.com is the latest company blaming AI for mass layoffs.
               </a>
              </strong>
              The cryptocurrency exchange's 12% workforce reduction comes after Jack Dorsey's Block laid 
off nearly half its total workforce. "Companies that do not make this pivot immediately will fail," Crypto.com CEO Kris Marszalek said.
             </div>
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             <a aria-label="Jay L Clendenin / Getty Images" style="color:#105C8E;" target="_blank" title="Jay L Clendenin / Getty Images">
              <img alt="Jay L Clendenin / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2261666754.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzQwMDEzODMuNzM4OTk0MX0:1w3WnX:XupnhdEyB4aCsMcx2QBeCQZ0GacoeQKjZLC-_L1xpAg" style="width:200px;max-height:338px;vertical-align:middle;border:0;" width="200"/>
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             <div style="line-height: 1.4">
              <strong>
               <a data-linktext="Uber and Rivian are teaming up for a big robotaxi push." data-linktype="Normal" style="color:#105C8E;" target="_blank">
                Uber and Rivian are teaming up for a big robotaxi push.
               </a>
              </strong>
              The companies announced a partnership to deploy up to 50,000 fully autonomous robotaxis, with Uber committing up to $1.25 billion in Rivian through 2031. The R2 
robotaxis will be available exclusively on the Uber platform.
             </div>
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             <a aria-label="Mike Kemp / In Pictures via Getty Images" style="color:#105C8E;" target="_blank" title="Mike Kemp / In Pictures via Getty Images">
              <img alt="Mike Kemp / In Pictures via Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2182365261.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzQwMDEzODMuNzM5MjEyfQ:1w3WnX:7pWtKYlprZR9FrTg-P-wGWNuuCfS59F4buUK9oUFRC0" style="width:200px;max-height:338px;vertical-align:middle;border:0;" width="200"/>
             </a>
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            <td class="td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;vertical-align:top">
             <div style="line-height: 1.4">
              <strong style="color:#105C8E">
               <a data-linktext="Meta is killing off the metaverse as it pivots to AI." data-linktype="Normal" style="color:#105C8E;" target="_blank">
                Meta is killing off the metaverse as it pivots to AI.
               </a>
              </strong>
              Horizon Worlds, its social VR platform, will be removed from Quest 
headsets by June 15. After that, it will survive only as a mobile app, competing with platforms like Roblox and Fortnite as opposed to fulfilling any vision of a virtual future.
             </div>
            </td>
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             <!--[if mso]><img src="//editor.ne16.com/spacer.gif" style="mso-hide:all;border:0;"><![endif]-->
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             <a aria-label="NurPhoto / Getty Images" style="color:#105C8E;" target="_blank" title="NurPhoto / Getty Images">
              <img alt="NurPhoto / Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D640%252Cheight%253D360%252Cfit%253Dcover%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2261808049.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzQwMDEzODMuNzM5MzY4Mn0:1w3WnX:Fx37jHcs-r5hElYpBxFqY1XYhaw_m_yHkktvAcb3hSg" style="width:200px;max-height:338px;vertical-align:middle;border:0;" width="200"/>
             </a>
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            <td class="td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;vertical-align:top">
             <div style="line-height: 1.4">
              <strong>
               <a data-linktext="Eli Lilly's experimental diabetes drug cut weight by 17% in a study." data-linktype="Normal" style="color:#105C8E;" target="_blank">
                Eli Lilly's experimental diabetes drug cut weight by 17% in a study.
               </a>
              </strong>
              In a trial of 537 adults with Type 2 diabetes, the drug retatrutide helped 
patients who completed treatment on the highest 12 mg dose lose an average of 36.6 pounds. The drug also showed improvements in cardiovascular risk factors.
             </div>
            </td>
           </tr>
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            <td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif">
             <!--[if mso]><img src="//editor.ne16.com/spacer.gif" style="mso-hide:all;border:0;"><![endif]-->
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          Investors had been waiting to see whether a company whose shares had surged nearly 65% this year — and more than quadrupled over the past 12 months — could clear a bar that had already been raised to an unhealthy altitude. Even before the report, options markets were implying roughly a 7% move by week's end, and the stock had
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