The hidden map of AI spending: who pays, who profits, what breaks first
A clearer way to understand the AI boom: where demand is real, where it’s speculative, and which bottlenecks (power, bandwidth, chips, talent) decide the winners.
Signal-first coverage on the companies and technologies moving markets.
Follow the circuits behind the headlines.
Capital Circuit delivers clear, detailed updates on the technology shaping the world’s biggest market moves— from AI and chips to platforms, regulation, and the capital behind it all.
No noise. No hype. Just the most important developments, explained with context and translated into what they could mean next.
Featured Briefings
Why “good news” can still hit a stock: expectations are the real product
Earnings reactions don’t just reflect results—they reflect the gap between narrative and positioning. Here’s how we frame that gap.
Semiconductors: the few datapoints that matter most
Demand signals, inventory turns, capacity, and policy—what we track when headlines get noisy.
Distribution is destiny: the quiet shifts that move revenue
When user behavior changes, monetization changes. We translate platform moves into market consequences.
The new rulebook: what regulation actually changes
We focus on enforcement, incentives, and second-order effects—not talking points.
The Circuit Index
Model releases, benchmarks, compute economics, and the path from labs to revenue.
Semis, packaging, memory, networking, and the constraints that create pricing power.
Distribution, engagement, monetization, and the business levers that markets re-rate.
Funding, buybacks, IPOs, M&A, and where capital is rotating next.
Antitrust, export controls, AI governance, and the incentives created by enforcement.
Daily signals, key earnings, and the “one chart” interpretation—without the hype.