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Managing uncertainty by Moh Hosseinioun, Frank Neffke, Hyejin Youn and Letian (LT) Zhang August 26, 2025 Illustration by Harriet Lee-Merrion Post Summary.    Leer en españolLer em português Post As technology like generative AI reshapes the workplace, it’s easy to assume that pursuing greater technical competence will help ensure a long and lucrative career. Additionally, by this logic, firms should be searching for those with specialized knowledge when seeking to fill entry level roles amid a tough market. But according to our new research, foundational skills—like collaboration, mathematical thinking, and adaptability—may prove much more important for both individuals and companies. Post Read more on Managing uncertainty or related topics Developing employees, Career planning, Generative AI, Interpersonal skills and Hiring and recruitment Read More

August 26, 2025 Leading an organization is a serious job, but Adam Christing argues that humor is a shortcut to building trust at an organization – and without it, you might be missing out on an important leadership tool. Christing is a comedian, speaker and author and he walks through five main kinds of humor that are most effective at work. It’s not about knock-knock jokes, he says, but finding a style that’s authentic to you. Christing is author of the book The Laughter Factor: The 5 Humor Tactics to Link, Lift, and Lead. Read More

Opinions expressed by Entrepreneur contributors are their own. Over the past 10 years, when do you think was the best time to sell a business? Believe it or not, it was just after the pandemic. In June 2024, the U.S. Department of the Treasury reported that American business investment had exceeded expectations, outperforming pre-pandemic projections by $430 billion. “The outlook for future business investment growth is encouraging,” the report stated. “Firms are observing persistently high returns to their capital, and founders are starting new businesses at historic rates.” Across industries, 2020–2022 outperformed even 2019 in many metrics. Manufacturing, for example, “surged back” in Q3 2020 with record gains in output and hours worked, according to the U.S. Bureau of Labor Statistics. The real lesson: It’s not about timing the market You don’t sell based on headlines. You sell based on your business, your industry, and your momentum. Company valuations have stayed remarkably consistent over the past 25 to 30 years — even during recessions like 2008–2009. Waiting for the “perfect” economic moment to exit is a common mistake that often leads to missed opportunities. One of our software clients was nearly ready to sell last year. But their industry began heating up so fast, we advised them to hold off. They now have a 10-year growth runway — and a chance to exit at a significantly higher valuation. On the other hand, we had a client in the print-and-postage business who waited too long. They ignored clear signs of declining demand. By the time they were ready to exit, their window had closed — and so had their leverage. The point: There’s no universal “right time” to sell. There’s only the right time for your business, in your industry. Related: When Should You Get Your Business Ready to Sell? The Best Time to Start Is Now — Here’s Why. Three steps to build value in uncertain markets Economic volatility causes many owners to second-guess their exit plan. Should I move faster? Should I take the first good offer? In most cases, the answer is no. Instead, refine your original plan with three key adjustments: 1. Prioritize profitability over revenue Buyers don’t pay for top-line growth — they pay for what drops to the bottom line. One of our marketing clients was bringing in $5 million in revenue but losing $200,000 annually. After focusing on profitability, they trimmed revenue to $3 million but turned a $220,000 profit. That leaner, more profitable business was ultimately worth more — and attracted better buyers. 2. Build operational efficiency A well-run business is more attractive, more resilient, and easier to sell. Aim for: Fewer people delivering the same output Documented, replicable systems A team that can run the business without you Buyers want to see a machine that works — and still has room to grow. 3. Stay realistic about valuation Remember Quibi? The mobile streaming platform launched with $1.75 billion in funding — and folded in six months. Or any Shark Tank episode where founders get laughed out of the room for unrealistic projections. Valuation isn’t about hype. It’s about performance, predictability and market reality. So when is the right time to sell? Here are two signs we see consistently: Growth takes more effort for less return. You start thinking, “I’ve got a couple good years left in me.” Those thoughts are signals. Don’t ignore them. They’re often the earliest signs that it’s time to plan your exit. The market moves, but your strategy shouldn’t Selling a business takes time — sometimes years — especially if you want to maximize value. Public markets fluctuate daily. But private business sales operate on a different timeline and follow different rules. The buyers are different. The financing is different. The valuation metrics are different. So don’t rush. Don’t panic. And don’t let headlines distract you from your long-term strategy. Related: Sell Your Company When You Least Expect It — How to Properly Scale and Sell Your Business Final thought: Focus on what you can control The best time to sell isn’t about market timing — it’s about business readiness. Ignore the noise. Focus on profitability, operational health, and what’s actually happening in your sector. That’s where real value lives — and where the best exits are made. Stay strategic. Stay grounded. And don’t sell your business short. Read More

AI is cutting into entry-level jobs, according to a new Stanford University study, released on Tuesday. Stanford researchers analyzed ADP payroll data, which included monthly payroll information for millions of workers at thousands of companies, to find how AI impacts employment for people ages 22 to 25 compared to other age groups. The study found that the professions most exposed to automation with AI were operations managers, accountants, auditors, general managers, software developers, customer service representatives, receptionists, and information clerks. In those AI-impacted jobs, which lost the most entry-level positions to the technology, employment for young workers has declined by 13% over the past three years. Related: These 3 Professions Are Most Likely to Vanish in the Next 20 Years Due to AI, According to a New Report “There’s definitely evidence that AI is beginning to have a big effect,” Erik Brynjolfsson, Stanford professor, economist, and first author on the study, told Axios. He called the trend of reduced entry-level hiring “the fastest, broadest change” that he had ever seen in the workplace, second only to the shift to remote work during the pandemic. Meanwhile, the study determined that since late 2022, when ChatGPT was released, employment for more experienced workers has remained steady or even improved in AI-impacted fields. In software engineering and customer service, for example, the study found that “employment for the youngest workers declines considerably after 2022, while employment for other age groups continues to grow.” Brynjolfsson explained that more experienced workers gain an advantage from on-the-job experience, which AI does not possess and has not yet been able to learn. However, he warned that industries might have difficulty finding the next generation of experienced hires if entry-level workers do not have opportunities to get started. Related: Here’s Why Companies Shouldn’t Replace Entry-Level Workers With AI, According to the CEO of Amazon Web Services When it comes to employers, Brynjolfsson noted that the way companies view AI affects whether they have open jobs available. Firms that want to use AI to augment their workforce are hiring more human workers, as those who see AI as a replacement for human labor are hiring fewer employees, he stated. The study supports another one released earlier this year by SignalFire, a venture capital firm that tracks the job changes of over 650 million people on LinkedIn. In a May report, SignalFire found that big tech companies have reduced entry-level hiring by 25% from 2023 to 2024 while simultaneously increasing hiring of experienced professionals. SignalFire’s Head of Research, Asher Bantock, told TechCrunch that there was “convincing evidence” that AI was to blame for the reduction in entry-level hiring, because AI can handle routine tasks well. AI can code, conduct research, and even generate web applications, reducing the need for junior employees to handle those tasks. Related: ‘Fully Replacing People’: A Tech Investor Says These Two Professions Should Be the Most Wary of AI Taking Their Jobs AI leaders have been warning about the technology’s impact on hiring for months. In June, Nobel Prize winner Geoffrey Hinton, who is often called the “Godfather of AI” due to his pioneering work on AI, predicted that AI “is just going to replace everybody” in white-collar jobs. He said paralegals and call center representatives were most at risk in the immediate present of losing their jobs to AI. Meanwhile, Anthropic CEO Dario Amodei stated in May that AI could take over half of all entry-level, white-collar jobs within the next one to five years. The move could cause mass joblessness, resulting in unemployment rising to up to 20%, he predicted. Read More

Apple’s next big launch event will be held on September 9. On Tuesday, Apple CEO Tim Cook confirmed the date on X, writing: “Get ready for an awe-dropping Apple Event on Tuesday, September 9!” Earlier this week, Bloomberg reported that the event will announce a “once-in-a-generation iPhone overhaul.” Related: Apple’s Working on a Foldable iPhone, According to a JPMorgan Investor Letter The event, which begins at 10 a.m. PT, can be livestreamed on Apple’s YouTube channel and is expected to reveal the thinner iPhone 17. Bloomberg managing editor Mark Gurman, who has an Apple-rumors reporting 86.5% accuracy rate, reported on Sunday that the September event will feature the iPhone Air — “a skinny new model that will replace the iPhone 16 Plus.” There will also be other improvements to the iPhone 17 lineup, including upgraded cameras, processors, and displays. But Apple could also mention the rumored, upcoming foldable iPhone, which is expected in 2026, and the iPhone 20 curved glass design, expected in 2027, Gurman wrote. Related: Apple Is Reportedly Working on Prototypes for at Least 2 Foldable iPhones Read More

A logo rebrand not going so well is not uncommon — just ask Jaguar, or GAP, or Facebook in the aughts. Now, Cracker Barrel is in the middle of a viral controversy over its latest redesign. Last week, the company unveiled a new logo with a cleaner-looking font that removed the old man and the barrel from the design. The phrase “Old Country Store” was also removed. It’s Cracker Barrel’s fifth rebrand in its 56-year history. Naturally, social media has not been kind about the rebrand, and everyone has seemed to weigh in, from President Donald Trump to rival restaurants like Steak ‘n Shake. Still, Cracker Barrel is staying the course. On its website on Monday, the restaurant chain issued a statement that said: “You’ve shown us that we could’ve done a better job sharing who we are and who we’ll always be.” Related: Struggling to Explain What You Sell? This Beverage Brand Was Too — Until It Tried This 4-Step Fix The new logo. Cracker Barrel The company noted that the “logo and remodels may be making headlines,” but many things aren’t going away, including “rocking chairs on the porch, a warm fire in the hearth, peg games on the table, unique treasures in our gift shop, and vintage Americana with antiques pulled straight from our warehouse in Lebanon, Tennessee.” “If the last few days have shown us anything, it’s how deeply people care about Cracker Barrel,” the statement said. “We’re truly grateful for your heartfelt voices.” The “old timer,” Uncle Herschel, however, might be gone from the logo for good, but he’s “not going anywhere — he’s family,” the statement said. “He’ll still be on our menu (welcome back Uncle Herschel’s Favorite Breakfast Platter), on our road signs, and featured in our country store.” A Cracker Barrel restaurant, featuring the company’s old logo, in Sterling, Virginia, US, on Tuesday, Aug. 26, 2025. Al Drago/Bloomberg | Getty Images Related: Gwyneth Paltrow Closes the Loop on the Astronomer, Coldplay Concert Scandal The change was part of a wider, forward-facing company update. Cracker Barrel has updated the interior of many of its restaurants, which previously displayed antiques in a maximalist design, and now features more neutral paint colors and modern furniture. A company representative told Country Living last year that 25-30 stores would be getting the refresh. “We also want to be sure Cracker Barrel is here for the next generation of families, just as it has been for yours,” the statement continued. “That means showing up on new platforms and in new ways, but always with our heritage at the heart. We take that responsibility very seriously. We know we won’t always get everything right the first time, but we’ll keep testing, learning, and listening to our guests and employees.” Read More

Opinions expressed by Entrepreneur contributors are their own. As we race to our social media channels to recognize and honor Women’s Equality Day, let’s not forget the daily struggles women continue to face both at our kitchen tables and at our conference room tables. In our workplaces, the everyday bias women face on how we speak, how we look and how we act can slowly chip away at us. And sometimes, these comments and actions that may be categorized as “innocent mistakes” impact performance reviews and advancement and promotion opportunities. All of which hits our paychecks, ultimately contributing to widening the gender pay gap. In my book, The Devil Emails at Midnight: What Good Leaders Can Learn From Bad Bosses, I share that my former boss, whom I nicknamed The Cheerleader, always wanted me to be happy. He wanted me to be smiling big like a Cheshire Cat or The Joker. “Why aren’t you smiling? What happened? Don’t worry, be happy!” The Cheerleader would always say this to me, pointing to his mouth and making a hand gesture for me to smile. And most of the time when I received this feedback, nothing had actually happened. I would be just at my desk diligently working, focused and apparently, not smiling. But he wanted me to always be smiling and always be projecting happiness, no matter what the circumstances were. This left my cheekbones sore and me feeling exhausted from the pretense of always projecting a positive, can-do attitude instead of just doing my work. So on this Women’s Equality Day, stop asking women to smile at work. Instead, here are three things leaders should focus on to break the bias in our workplaces. Related: 3 Ways Female Entrepreneurs Can Shatter Stereotypes While Also Empowering Others 1. Focus on performance, not if they are smiling According to one study, 98% of women reported being told to smile at work sometime during the course of their careers, and 15% said the request to smile on demand happens weekly for them, if not more frequently. Of course, individuals who smile may be viewed as happier, likable and approachable. “Smiling is very much associated as a gender marker,” says Marianne LaFrance, a professor of women’s, gender, and sexuality studies at Yale University and author of the book Why Smile? “It marks one’s femininity and a more communal stance toward life. Though smiling is generally a positive characteristic, it falls to women to do more of it because we want to make sure women are doing what we expect them to do, which is to care for others.” Telling women to smile may seem harmless in the workplace. And it reinforces the societal expectation that women should be cheerful, approachable and make others feel more comfortable with a simple smile. Don’t use “the smile” as an indicator of whether women are performing or not on the job. Rather than focusing on their facial expressions, focus on their performance. Ensure all employees have clear goals and metrics and they understand when and what they are expected to deliver. And take the time to evaluate them fairly based on their work, and not based on how often they smile. Related: If You Want to Honor Women’s Equality Day, Start by Re-evaluating the Performance Feedback You Give Women at Work 2. Recognize and respect how individuals express emotions I enjoy smiling. But when my former boss, The Cheerleader, would tell me to smile on demand, that’s when I started to dislike smiling. At times, I would shoot a quick smile back just to appease the situation. And when I am doing work at my desk, I am concentrating on completing the task at hand. I am not focused on how I look, if I am smiling or not. I just want to do the best work I can. For women, smiling on demand in the workplace can seem more like a requirement. According to Harvard Business Review, “This pervasive stereotype not only characterizes Black women as more hostile, aggressive, overbearing, illogical, ill-tempered and bitter, but it may also be holding them back from realizing their full potential in the workplace.” Let’s recognize and respect how women, and all individuals, express emotions, especially being content or happy at work. Depending on the culture and environment you were raised in, a smile doesn’t always equal happiness. For some, a smile without clear context or reasoning may seem suspicious, even a sign of weakness or dishonesty. For some, smiling constantly may be a way to mask how they are truly feeling. For some, they may not smile freely at strangers and only smile with close friends or family members where they feel comfortable. Remember that smiling is not the only way to determine if someone feels they are content and doing well at their job. Related: Men Are Seen as Experts More Often Than Their Women Counterparts — and It’s Time to Break Those Gender Biases. 3. Challenge the idea that smiling is part of the job requirement As leaders, do we ask women to smile more than men? And if we do, why is it a job requirement at all to be ready to flash a smile on demand? Here’s how we can respectfully challenge and break through the bias: Do we ask Jeff to smile more often, who is also up for a promotion? Why is this feedback we are specifically giving Mita, to smile more and be happier in the office? Mita has gotten strong performance ratings the last two years in a row, and this year, she has exceeded all her goals and has received positive feedback from her team and peers. Can someone help me understand why we need her to smile more? Why do we need Mita to smile more often? What makes us uncomfortable about her not smiling? Is her lack of smiling impacting her performance? Next time you have the urge to ask a woman to smile more at work, stop and

More information in our economic calendarMargins Under Strain Despite the marginally milder fall in profits, industrial sector conditions remain bleak. Weakening external demand has intensified competition for new business, leading to price wars. Rising input prices and lower output prices to win bids have affected company profit margins. PMI Data Highlights Weakness July’s closely watched S&P Global China General Manufacturing PMI fell from 50.4 in June to 49.5 in July, dropping below the neutral 50 level. The July survey highlighted key trends, including: New export orders contracted for the fourth month in a row. Higher raw material costs drove average input prices higher. Firms reduced their selling prices amid increasing competition. Notably, falling external demand and narrowing profit margins led to manufacturers cutting staffing levels to manage costs. A continued strain on profit margins could impact the labor market further, potentially undermining Beijing’s efforts to boost domestic consumption. Labor Market Challenges China’s unemployment rate increased from 5% in June to 5.2% in July, while youth unemployment soared from 14.5% in June to 17.8% in July. A record number of graduates entered the labor market in July, pressuring Beijing to roll out policy measures aimed at boosting job creation. Beijing’s Policy Response Last week, Beijing responded to signals of a loss of economic momentum at the start of the third quarter. China’s Premier Li Qiang vowed to boost spending, stabilize the housing market, and tackle labor market strains. Economists expect Beijing to roll out stimulus measures over the remainder of the year to achieve the 5% GDP growth target for 2025. Outlook from Economists Natixis Asia Pacific Chief Economist Alicia Garcia Herrero recently commented: “China can reach its 2025 growth target but with even more stimulus and the second half will be tougher. All in all, while the Chinese economy has a greater likelihood of meeting the government’s growth target, there are significant uncertainties down the road. Despite foreseeable headwinds from trade friction and persisting deflation, the government does have more bullets for further stimulus if needed.” Market Outlook: Trade Talks and Data Watch While recent economic indicators have pointed to a loss of momentum, trade developments and upcoming private sector PMI numbers on August 31 may ultimately drive sentiment. On Tuesday, August 26, reports surfaced of China’s trade negotiator, Li Chenggang, planning to visit Washington to resume trade talks. Progress toward a US-China trade deal, reducing US tariffs on China, could boost external demand and ease price pressures, potentially raising industrial profits. August’s NBS Manufacturing PMI number will indicate whether the manufacturing sector contracted more sharply. Economists expect the NBS Manufacturing PMI to increase from 49.3 in July to 49.7 in August. An increase above the neutral 50 level may ease concerns about China’s economic outlook. On the other hand, a lower reading may push Beijing into rolling out meaningful measures to bolster the economy. Markets React to Softer Drop in Industrial Profits The Hang Seng Index reacted to the July data, briefly climbing to a high of 25,653 before falling to a low of 25,565. At the time of writing, the Hang Seng Index was up 0.26% to 25,592. Meanwhile, Mainland China’s CSI 300 and the Shanghai Composite Index were down 0.05% and 0.18%, respectively. Despite the softer fall in industrial profits, uncertainties remain over the effectiveness of Beijing’s stimulus measures and upcoming trade talks. Read More

In June, home prices grew at their weakest rate since 2023, falling below the rate of inflation, a report found — the latest sign of a downturned housing market.  Suggested Reading National home prices in June were up only 1.9% year-over-year, according to the S&P Cotality Case-Shiller Index published Tuesday. This marks the slowest pace since the summer of 2023, Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices, said in a release.  Related Content “For the first time in years, home prices are failing to keep pace with broader inflation,” Godec said.  The Consumer Price Index grew 2.7% from June 2024 to June 2025, while national home prices rose 1.9%, he added, saying the change is “historically significant.” This decline is reflective of the housing market’s “new equilibrium” as the market adjusts to an economy where consumers are still battling high inflation, high — albeit falling — mortgage rates, rising costs due to tariffs, and a weak job market.  As these factors, among others, have pushed buyers away, the market has responded by lowering mortgage rates and slowing price growth. In July, existing home sales in the U.S. grew by 2% thanks to these changes, according to the National Association of Realtors.  The median existing-home price was $422,400 in July, up 0.2% from one year ago. But even with these gains in July, yearly data from June 2025 to June 2024 shows a market in decline.  After seasonal adjustment, the national housing price index fell 0.3% in June, which suggests that “underlying housing demand remains weak,” Godec said. “Looking ahead, this housing cycle’s maturation appears to be settling around inflation-parity growth rather than the wealth-building engine of recent years,” he added. This shift can be seen at the metro level as well.  Traditional industrial centers are seeing better housing price gains than “former darlings” that performed well during the pandemic — like Tampa, Phoenix, and Dallas — because they offer more “sustainable fundamentals” like employment growth, relative affordability, and demographic shifts, Godec said.  “While this represents a loss of the extraordinary gains homeowners enjoyed from 2020-2022, it may signal a healthier long-term trajectory where housing appreciation aligns more closely with broader economic fundamentals than speculative excess,” he said.  — Niamh Rowe contributed to this article.  📬 Sign up for the Daily Brief Read More

For the last year and a half, AI hasn’t just been a technology — it’s been a worldview. Nvidia’s stock tore through Wall Street expectations and crowned the company more valuable than Microsoft and Apple. Microsoft pledged to spend like a sovereign wealth fund to bulk up Azure. Google rewired its entire roadmap around Gemini. Meta, never shy about a grand narrative, promised that “superintelligence” was within reach — and CEO Mark Zuckerberg spent like it. The numbers matched the rhetoric: a trillion of market cap here, a trillion there, tens of billions in quarterly capital expenditures.  The refrain was simple and contagious: inevitability. But inevitability can have a short shelf life in the world of technology. Over the past month, three jolts in particular have rattled the story. OpenAI CEO Sam Altman, who has made a career out of selling a version of the future, said the quiet part out loud: Asked if he thinks we’re in an AI bubble, he said, “Yes.”  Meta, after months of splashy AI hiring and rhetoric, has reportedly frozen recruitment and chopped up its “super” lab. And MIT published research that went viral on LinkedIn, estimating that 95% of enterprise AI pilots return no business value. That trifecta — a prophet hedging, a zealot pausing, and academics bringing receipts — turned inevitability into a question. Markets noticed.  Nvidia, the totem of the AI boom, will be treated less like a stock and more like a stress test for the entire economy when it reports its quarterly earnings on Wednesday. Its earnings call isn’t just another quarterly update — it’s the hinge on which the hype rests. Wall Street expects another record, roughly $46 billion in revenue. But at a $4 trillion valuation, “better than expected” may not be good enough. If the golden child stumbles, even slightly, the talk on whether the tide is turning on AI gets louder. Already, cracks have shown. After a mid-August surge, tech stocks, including Nvidia and other AI-heavy firms, pulled back by about 1.6%, even as energy and real estate rose. Analysts warn that the Nasdaq’s 41% gain since April may have inflated valuations — a frothiness that makes every earnings print feel like a cliffhanger. And that’s why Nvidia’s earnings call has been elevated into a kind of secular rite. When hype meets ROI AI’s signs of strain aren’t confined to trading screens. They’re everywhere. Take Humane’s AI Pin. The $700 wearable was hyped as the next iPhone — an AI-native device to liberate us from screens. It lasted less than a year before its assets were offloaded to HP in what amounted to a mercy sale. Or, take Microsoft’s Recall, the feature billed as a photographic memory for your PC. Privacy watchdogs called it a surveillance nightmare, and the company had to walk back its rollout plans. For an industry that loves to declare “this changes everything,” the first wave of consumer products has changed very little, except investor patience. The corporate numbers don’t look much better. MIT’s study put hard math on what many CIOs already suspected: Nearly all of those shiny AI pilots amount to little more than slideware.  That finding rippled through boardrooms and social media feeds because it finally gave executives cover to say what they’d been whispering: AI demos are impressive, but they’re not showing up in the P&L. Even among developers, the ground feels shaky. Stack Overflow’s 2025 survey found that while 84% of coders now use AI tools, only 3% say they “highly trust” the outputs. Adoption is skyrocketing, but confidence is collapsing. The result is a paradox: AI is everywhere, and yet no one quite depends on it.  Meta’s reported recent pivot has only added to the sense of recalibration. After a year of Zuckerberg touting “superintelligence” and stuffing its payroll with AI hires for mind-boggling sums, the company suddenly froze recruitment, restricted transfers, and broke its mega-lab into four groups. The official line was focus. Some analysts called it discipline. But to most people watching, it looked like fatigue. For an industry that treats “more” as a strategy, a pause from one of the biggest spenders was its own kind of confession. Wall Street hasn’t pulled the plug. Wedbush analyst (and raging tech bull) Dan Ives insists this is still “the second inning” of an AI bull market.  But the market’s edginess shows up in the tape: Palantir shares plunged more than 9% in a single session amid bubble chatter, while Nvidia dropped about 3.5% the same week. And Erik Gordon, a University of Michigan professor known for his bubble calls, warned Business Insider that the AI bust could prove even uglier than the dot-com collapse — pointing to CoreWeave’s stunning 33% valuation plunge, a $24 billion wipeout in just 48 hours, as a canary in the coal mine. Spending like there’s no tomorrow If sentiment is wobbling, the spending machine hasn’t slowed. In fact, it’s accelerating. Microsoft just guided to roughly $30 billion in capex for the current quarter — the largest quarterly spending in corporate U.S. history. Google parent company Alphabet raised its 2025 budget to $85 billion. Meta, freeze notwithstanding, bumped its capex range to between $66 and $72 billion. These aren’t cautious checks.  And the trend extends far beyond those companies. The Financial Times estimates that global AI infrastructure spending could hit $3 trillion by 2029, with nearly $750 billion pouring into data centers in just the next two years. It’s an arms race built on concrete and servers, not just rhetoric. Why? Because the infrastructure race is the only part of the AI boom that still feels like a sure thing. Nvidia’s GPUs are the scarcest resource in tech. CoreWeave, a cloud startup that barely existed three years ago, is now buying up data centers as if they’re beachfront property. Analysts may debate the future of copilots and chatbots, but no one questions the future of compute. The line from Big Tech is consistent: The returns are there in cloud,