๐ BlackRock: Cheaper AI, New Earnings Questions
โข Gartner projects $64B in worldwide AI model/platform spending for 2026 โ up 63% YoY.
โข Chinese AI models now process ~23 trillion tokens/week on OpenRouter, nearly double the ~12 trillion for top US models.
โข S&P 500 earnings are on track for a second straight quarter of 20%+ growth, though Alphabet's free cash flow just turned negative for the first time.
โข BII stays overweight AI but tilts toward infrastructure (power, data centers) over the increasingly crowded model layer.
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