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Plus: The Pentagon’s AI problem.
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Wednesday, March 4, 2026
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Charly Triballeau/AFP via Getty Images
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Gas
prices rise and stocks sink as war in the Middle East intensifies
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The market’s AI-fueled optimism just collided with the hard reality of geopolitical risk.
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<br/>
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<div style="line-height: 1.5">
After weeks of shrugging off global tensions, Wall Street is finally pricing in the escalating conflict between
the U.S. and Iran. President Donald Trump’s vow that the U.S. could fight “forever” sent a shockwave through markets hoping for a swift resolution. The Nasdaq plummeted 2.2% and the S&P 500 fell over 2% at Tuesday’s open, erasing recent gains. The most immediate pain point is energy. With Iran’s critical Strait of Hormuz closed, Brent crude has surged past $83 a barrel — a 14% jump in just one month — threatening a new wave of global inflation.
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This is a stress test for the digital economy.
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<div style="line-height: 1.5">
<br/>
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<div style="line-height: 1.5">
The fallout extends far beyond the gas pump. The conflict exposes the fragile physical infrastructure — maritime chokepoints and energy grids — that underpins our increasingly virtual world. Billions in planned AI and semiconductor investments, which rely on
stable global supply chains and predictable energy costs, are now subject to the whims of an old-world power struggle.
</div>
<div style="line-height: 1.5">
<br/>
</div>
<div style="line-height: 1.5">
For an economy betting its future on automated systems and frictionless commerce, this is a stark reminder that geopolitical leverage remains the ultimate off-switch. The modern frontier is still vulnerable to ancient chokeholds.
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How much will a barrel of oil cost over the
next month?
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$60-$70
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<!--<![endif]-->
<!--[if mso]><a href="https://www.ne16.com/t/10384411/222404108/9287806/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=UXVhcnR6JTIwREIlMjAwMy0wNCUyMCUyMA&x=6e23ddfd" 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; ">$100</a><![endif]-->
</td>
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<table border="0" cellpadding="0" cellspacing="0" style="margin: 0 0 8px 0;" width="100%">
<tbody>
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<table border="0" cellpadding="0" cellspacing="0" style="border:none; border-spacing: 0; border-collapse: collapse; mso-table-lspace:0; mso-table-rspace:0; mso-margin-top-alt:0px; mso-margin-bottom-alt:0px; mso-padding-alt: 0px 0px 0px 0px;" width="100%">
<tbody>
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<td height="40" style="vertical-align:middle;text-align:center;font-family:Arial,Helvetica,sans-serif;font-size:15px" valign="middle">
<a style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 12px; border: 1px solid
#105C8E; display: block; " target="_blank">
</a>
<table bgcolor="#105C8E" cellpadding="0" cellspacing="0" class="newButton" height="40" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; padding-right:10px;mso-padding-right-alt: 10px;padding-left:10px;mso-padding-left-alt: 10px;padding-top:10px;mso-padding-top-alt: 10px;padding-bottom:10px;mso-padding-bottom-alt: 10px; " width="100%">
<tbody>
<tr>
<td align="center" bgcolor="#105C8E" style="text-align:center;vertical-align:middle;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-family:Arial,Helvetica,sans-serif;font-size:15px" valign="middle">
<table bgcolor="#105C8E" cellpadding="0" cellspacing="0" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; " width="100%">
<tbody>
<tr>
<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
!mso]><!-->
<a 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; ">
$120
</a>
<!--<![endif]-->
<!--[if mso]><a href="https://www.ne16.com/t/10384411/222404108/9287807/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=UXVhcnR6JTIwREIlMjAwMy0wNCUyMCUyMA&x=40729fd7" 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; ">$120</a><![endif]-->
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</table>
</td>
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</tbody>
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<table border="0" cellpadding="0" cellspacing="0" style="margin: 0;" width="100%">
<tbody>
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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">
<table border="0" cellpadding="0" cellspacing="0" style="border:none; border-spacing: 0; border-collapse: collapse; mso-table-lspace:0; mso-table-rspace:0; mso-margin-top-alt:0px; mso-margin-bottom-alt:0px; mso-padding-alt: 0px 0px 0px 0px;" width="100%">
<tbody>
<tr>
<td height="40" style="vertical-align:middle;text-align:center;font-family:Arial,Helvetica,sans-serif;font-size:15px" valign="middle">
<a style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; color: #FFFFFF; text-decoration: none; font-family: Arial; font-size: 12px; border: 1px solid #105C8E; display: block; " target="_blank">
</a>
<table bgcolor="#105C8E" cellpadding="0" cellspacing="0" class="newButton" height="40" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; padding-right:10px;mso-padding-right-alt: 10px;padding-left:10px;mso-padding-left-alt: 10px;padding-top:10px;mso-padding-top-alt: 10px;padding-bottom:10px;mso-padding-bottom-alt: 10px; " width="100%">
<tbody>
<tr>
<td align="center" bgcolor="#105C8E" style="text-align:center;vertical-align:middle;-webkit-border-radius:6px;-moz-border-radius:6px;border-radius:6px;font-family:Arial,Helvetica,sans-serif;font-size:15px" valign="middle">
<table bgcolor="#105C8E" cellpadding="0" cellspacing="0" style="-webkit-border-radius: 6px; -moz-border-radius: 6px; border-radius: 6px; " width="100%">
<tbody>
<tr>
<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 !mso]><!-->
<a 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;
">
$200 or more
</a>
<!--<![endif]-->
<!--[if mso]><a href="https://www.ne16.com/t/10384411/222404108/9287808/1/1009235/?abb9e380=NGYzZmQyODYtMmZhOS00YzdjLWFkYzktMzQyOGNhZmI3ZDBl&f5d63f87=UXVhcnR6JTIwREIlMjAwMy0wNCUyMCUyMA&x=b3c4efde" 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; ">$200 or
more</a><![endif]-->
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</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
</td>
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</tbody>
</table>
</div>
</div>
</td>
</tr>
<tr>
<td class="td100" colspan="6" height="24" style="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]-->
</td>
</tr>
<tr class="trpad10">
<td class="td100" colspan="6" style="padding:10px;width:100%;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<h1 style="mso-line-height-rule:exactly;Margin:0;font-family:Arial;font-size:24px;font-weight:bold;">
<span style="font-family:Arial;font-size:24px">
Here's what you need to know
</span>
</h1>
</td>
</tr>
<tr>
<td class="snippet td100" colspan="6" style="width:100%;position:static;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<table border="0" cellpadding="0" cellspacing="0" class="dragndrop" data-rss-posts="undefined" height="100%" style="table-layout:fixed;" width="100%">
<tbody>
<tr class="trpad10" style="background-color:#EFEFEF">
<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="Michael Nagle/Bloomberg via Getty Images" target="_blank" title="Michael Nagle/Bloomberg via Getty Images">
<img alt="Michael Nagle/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%253D870%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2263889856.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzI2MjI0NjYuNzU3OTc4fQ:1vxk4w:ZaMmNsTVHWHWU_KSFvDEKwBdt5probNvxmLyD7SXsrg" style="width:200px;max-height:400px;vertical-align:middle;border:0;" width="200"/>
</a>
</td>
<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="Markets feel the pressure." data-linktype="Normal" style="color:#105C8E" target="_blank">
Markets feel the pressure.
</a>
</strong>
The S&P 500 index erased all of its 2026 gains, dragged down by oil and natural gas prices climbing, as 10-year yields and the volatility index pushed higher and rate-cut expectations
shifted from July to September.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<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]-->
</td>
</tr>
<tr class="trpad10" style="background-color:#EFEFEF">
<td class="td100" colspan="2" style="background-color:#EFEFEF;background-repeat:no-repeat;background-size:auto;vertical-align:top;width:33.3333%;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<a aria-label="Scott Olson/Getty Images" target="_blank" title="Scott Olson/Getty Images">
<img alt="Scott Olson/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%253D870%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2260957680.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzI2MjI0NjYuNzU4MDgxN30:1vxk4w:otNhk_WsA4Tz6rXfxqkIWuvTP_lvATuok_ChH-FBYg8" style="width:200px;max-height:399px;vertical-align:middle;border:0;" width="200"/>
</a>
</td>
<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="Target hits the bullseye." data-linktype="Normal" style="color:#105C8E" target="_blank">
Target hits the bullseye.
</a>
</strong>
Shares of Target (
<a data-linktext="$TGT" data-linktype="Normal" style="color:#105C8E" target="_blank">
$TGT
</a>
) rose as much as 8% Tuesday after the company posted modest earnings that, among the heavy geopolitical instability, were enough to pass for good news.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<td class="td100" colspan="6" height="24" style="background-color:#EFEFEF;width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif">
<!--[if mso]><img src="//editor.ne16.com/spacer.gif" style="mso-hide:all;border:0;"><![endif]-->
</td>
</tr>
<tr class="trpad10" style="background-color:#EFEFEF">
<td class="td100" colspan="2" style="background-color:#EFEFEF;background-repeat:no-repeat;background-size:auto;vertical-align:top;width:33.3333%;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<a aria-label="Sean Gallup/Getty Images" target="_blank" title="Sean Gallup/Getty Images">
<img alt="Sean Gallup/Getty Images" class="img100" data-linktype="Normal" data-target="_blank" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Fqz.com%252Fcdn-cgi%252Fimage%252Fwidth%253D870%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2207803361.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzI2MjI0NjYuNzU4MTgzMn0:1vxk4w:R8fmy49H8vOlN9Vkj_fgQRih6C4oVtzqfQWf6U5HAHA" style="width:200px;max-height:400px;vertical-align:middle;border:0;" width="200"/>
</a>
</td>
<td class="td100" colspan="4" style="background-color:#EFEFEF;padding:10px;font-size:15px;font-family:Arial,Helvetica,sans-serif;width:66.6667%;vertical-align:top">
<div style="line-height: 1.4">
<strong>
<a data-linktext="Amazon's data land grab." data-linktype="Normal" style="color:#105C8E" target="_blank">
Amazon's data land grab.
</a>
</strong>
Amazon Data Services (
<a data-linktext="$AMZN" data-linktype="Normal" style="color:#105C8E" target="_blank">
$AMZN
</a>
) is paying George Washington University $427 million for a data center campus in northern Virginia, expanding its footprint in the world's largest data hub to meet cloud computing demand.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<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]-->
</td>
</tr>
<tr class="trpad10" style="background-color:#EFEFEF">
<td class="td100" colspan="2" style="background-color:#EFEFEF;background-repeat:no-repeat;background-size:auto;vertical-align:top;width:33.3333%;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<a aria-label="Photo illustration by Michael M. Santiago/Getty Images" target="_blank" title="Photo illustration by Michael M. Santiago/Getty Images">
<img alt="Photo illustration by Michael M. Santiago/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%253D870%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2261974003.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzI2MjI0NjYuNzU4Mjg0M30:1vxk4w:Qny3x2GkHMvC4IWwvpbuP00YsX7lrgljJ7_n3J5d1o0" style="width:200px;max-height:400px;vertical-align:middle;border:0;" width="200"/>
</a>
</td>
<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="Claude takes the App Store crown." data-linktype="Normal" style="color:#105C8E" target="_blank">
Claude takes the App Store crown.
</a>
</strong>
After Anthropic pulled out of a Pentagon deal because of security and surveillance worries, OpenAI stepped in — but a ChatGPT boycott pushed Claude to the top of downloads and to a brief
outage.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<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]-->
</td>
</tr>
<tr class="trpad10" style="background-color:#EFEFEF">
<td class="td100" colspan="2" style="background-color:#EFEFEF;background-repeat:no-repeat;background-size:auto;vertical-align:top;width:33.3333%;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<a aria-label="Jakub Porzycki/NurPhoto via Getty Images" target="_blank" title="Jakub Porzycki/NurPhoto via Getty Images">
<img alt="Jakub Porzycki/NurPhoto 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%253D870%252Cquality%253D85%252Cformat%253Dauto%252Fhttps%253A%252F%252Fassets.qz.com%252Fmedia%252FGettyImages-2252868978.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZxei5jb20lMkZjZCIsInRpbWUiOjE3NzI2MjI0NjYuNzU4Mzg0Mn0:1vxk4w:JOvdoXooQNWSk3yVsqnVX3Ot4y2RN0jH1GfGnQuUQsU" style="width:200px;max-height:400px;vertical-align:middle;border:0;" width="200"/>
</a>
</td>
<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="Abel takes up Buffett’s torch." data-linktype="Normal" style="color:#105C8E" target="_blank">
Abel takes up Buffett’s torch.
</a>
</strong>
New CEO Greg Abel, in his first annual Berkshire Hathaway letter, said not to worry about the company’s cash pile and staked his tenure on Berkshire's discipline — and
on patience measured in decades.
</div>
</td>
</tr>
<tr style="background-color:#EFEFEF">
<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]-->
</td>
</tr>
</tbody>
</table>
</td>
</tr>
<tr>
<td class="td100" colspan="6" height="24" style="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]-->
</td>
</tr>
<tr class="trpad10">
<td class="td100" colspan="6" style="padding:10px;width:100%;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<h1 style="mso-line-height-rule:exactly;Margin:0;font-family:Arial;font-size:24px;font-weight:bold;">
<span style="font-size:24px;font-family:Arial">
Recommended
</span>
</h1>
</td>
</tr>
<tr>
<td class="snippet td100" colspan="6" style="width:100%;position:static;vertical-align:top;font-family:Arial,Helvetica,sans-serif;font-size:15px">
<table border="0" cellpadding="0" cellspacing="0" class="dragndrop" data-rss-posts="undefined" height="100%" style="table-layout:fixed;" width="100%">
<tbody>
<tr class="trpad20" style="background-color:#E9F2F9">
<td class="td100" colspan="6" style="font-family:Arial,Helvetica,sans-serif;line-height:1.3;width:100%;background-color:#E9F2F9;font-size:16px;padding:20px;vertical-align:top;mso-line-height-rule:exactly">
<div style="line-height: 1.5">
<strong style="font-family: Georgia, serif; font-size: 20px">
Is your company one of the best places to work? Prove it.
</strong>
</div>
<div style="line-height: 1.5">
<br/>
</div>
<div style="line-height: 1.5">
We're accepting nominations for our
<strong>
2026 Best Places to Work
</strong>
report.
</div>
<ul>
<li style="line-height: 1.5">
<span class="ql-ui">
</span>
Registration is
<strong>
free
</strong>
</li>
<li style="line-height: 1.5">
<span class="ql-ui">
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The process is research-driven
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<span class="ql-ui">
</span>
You receive your employee responses for
<strong>
free
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<li style="line-height: 1.5">
<span class="ql-ui">
</span>
Recognized companies earn a credential that strengthens recruiting and employer brand
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</ul>
<div style="line-height: 1.5">
Register by May 8 to be considered.
</div>
<div style="line-height: 1.5">
<br/>
</div>
<div style="line-height: 1.5">
<strong style="font-size:18px;color:#105C8E">
<a data-linktext="Register now" data-linktype="Normal" style="color:#105C8E" target="_blank">
Register now
</a>
</strong>
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</table>
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<tr>
<td class="td100" colspan="6" height="24" style="width:100%;height:24px;font-size:1px;vertical-align:top;font-family:Arial,Helvetica,sans-serif">
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style="mso-hide:all;border:0;"><![endif]-->
</td>
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<tr>
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The White House’s blacklisting of Anthropic is a political loyalty test for Silicon Valley.
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The Trump administration’s move to ban Anthropic from federal use presents a strange crossroads. On Friday, the Pentagon labeled the AI firm a “supply-chain risk” — a designation usually used for Chinese firms — after it refused to remove guardrails against autonomous weapons and mass surveillance. Yet on Saturday, the U.S. military bombed Iran using the very same Anthropic tools for targeting, revealing a deep dependency that a six-month phase-out period can’t easily
erase.
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Hours after Anthropic backed out of the Pentagon deal, OpenAI announced a new Pentagon deal. CEO Sam Altman said the agreement includes the same prohibitions on autonomous weapons and surveillance that Anthropic had sought and that the Pentagon had ostensibly rejected. The company that was blacklisted and the company that was rewarded were looking to secure functionally identical terms.
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The real currency is compliance, not code.
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The difference could be political obedience. OpenAI’s president is a major pro-Trump donor, while Anthropic hired former Biden officials. This episode signals a chilling new reality for Big Tech: Access to the
multibillion-dollar federal market may now depend less on technological superiority and more on perceived political fealty. The line between corporate partner and state asset is becoming dangerously thin.
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