Technology Sector

Executives across the AI infrastructure space are pushing back hard against the idea that demand is slowing, even as companies get pickier about spending. Think of it like a restaurant that's still packed every night but customers are now checking prices before ordering appetizers. Pat Gelsinger, former Intel CEO, told CNBC that AI demand is "almost unlimited" and energy is the only real constraint; executives at Nebius, Cerebras, and Rebellions all echoed that actual demand far exceeds available computing capacity (CNBC). The real story isn't that AI companies are overinvesting—it's that enterprises are shifting from "use as much as possible" to "prove it actually works" before spending big.

A new survey found that 69% of U.S. workers support forcing AI companies to hand over half their stock to a public fund—a direct shot at inequality amid rising tech layoffs (CNBC). This is essentially the public saying: if AI is creating huge wealth, we want a piece of it. Senator Bernie Sanders proposed the American AI Sovereign Wealth Fund Act based on this same logic; Goldman Sachs estimates that roughly 15 million workers could lose jobs in a 10-year AI transition, even if new jobs eventually materialize. This political momentum could eventually constrain how much profit AI firms keep, making it a real risk for shareholders betting on fat margins.

While Elon Musk's Neuralink implants chips directly into skulls, Chinese startups like BrainCo are betting the mass market wants brain-computer interfaces you just wear, like a headband (CNBC Tech). Brain-computer interfaces translate brain signals into commands—think of it as a thought-to-action remote control. BrainCo, backed by $280 million in fresh funding, makes wearable bionic hands and sleep aids; China's government has flagged BCIs as a strategic priority in its Five-Year Plan, while regulators approved the country's first minimally invasive BCI device for commercial use. This is a long-term race, but the non-invasive path could eventually reach way more people than surgical alternatives.