AI's widening pricing divide, plus Big Tech earnings

Microsoft, Google, Amazon, and Meta reported earnings last night — three upped already-giant capex commitments. Cloud numbers justify the spend, but free cash flow is collapsing across the group, and Meta shows how fragile that bargain is. Daniel Newman of Futurum Group breaks it down. Plus: AI is getting pricier in America while Chinese alternatives — DeepSeek, Kimi, and others — run at a fraction of OpenAI and Anthropic's cost. Cohere CEO Aidan Gomez on the gap and what enterprises are doing.