Here we are! Big Tech earnings roll out! Market will be looking at AI capex as always from the giants but what is more important IMO is ROI from AI. If Meta and Microsoft can start showing AI monetisation and even better start projecting that in their forward guidance, that will appease market’s apprehension towards the massive AI expenditure and justify the infrastructure rollout as well as galvanise other companies to do so or get left behind. And that will benefit the AI beneficiaries who should be getting a tailwind from more AI spend.