Investment firm Citi lifts its AI build-out forecast: Amazon, Alphabet (Google), Microsoft, and Meta could collectively invest up to $2.8T by 2029, front-loaded with $490B capex by end-2026. The spend hinges on scarce power—~55 GW new capacity—pushing firms to borrow and pressuring free cash flow .
Despite the significant milestone of launching 11 bitcoin exchange-traded funds (ETFs) in the U.S., crypto prices experienced a downturn. The BTC price crashed by more than 7% on Saturday, marking a contrast to the institutional acceptance it has fought for over the years. The market's reaction following the ETF launch underscores cryptocurrency prices' dynamic and sensitive nature.