Markets can’t wait for the Iran war to end – so they can get back to speculating trillions on the AI revolution. The hyperscalers expect to reap monopoly scale rents from owning AI closed-weight models and the digital infrastructure of datacentres and chips. But what if households can build their own AI capabilities cheaper and more effectively? Pop!

The world may be going to hell in a handbasket, and tomorrow is the start of the Year of the Fire-Horse (the most volatile of the 60-year Chinese zodiac cycle) but what a fantastic weekend of sports we just had. It’s all positive stuff… Let’s enjoy it while we can.

Where are the Tech markets and AI heading? Are we due a meltdown or melt-up? Will the bubble bust, or do the current ructions reflect growing uncertainty on which directions upside lies? There is plenty to consider when trying to predict where AI and Tech eventually go.

Western economies are dependent on functional tech. Yesterday’s Amazon outage suggests the resiliency of tech infrastructure is creaking, raising multiple issues about dependency and costs. Could a shift in how companies secure against Tech vulnerabilities see the MAG3 firms at the core of global tech infrastructure hit?

Sir Tim Berner-Lee’s autobiography, “This Is For Everyone” is a delight. In a world that is increasingly riven and polarised - largely through the deliberate misuse of the tools his web protocols enabled - his calls for a polite reset will likely fall on deaf ears… There is simply too much money to be made monetising the passions and addictions that drive social media – which is why we ultimately may need to regulate Big Tech and the Web.

The AI revolution is exceedingly expensive. It’s become a matter of who can chuck the most amount of money at it. But that’s forgetting it’s still evolving and there is little to stop it moving in new directions.

Plus, The Morning Porridge experiments with AI generated graphs!

It’s going to take some while for markets to figure out the consequences and implications of DeepSeek on the AI narrative, including how much false value has been factored into US stocks in particular. What will be the next no see-um remains the eternal question for markets!

A sure sign of just how nervous markets are is volatility and judder moments – the realisation that things aren’t what you thought they were. Who knew a bond bear market was upon us, and interest rates are unlikely to fall? Who knew the Chinese AI Deepseek can do what OpenAI can do at a fraction of the cost?

Valuations in the USA look insane. Surely stock prices must be a bubble? Maybe. Maybe not – the USA has created a self-driving technology machine, a conveyor belt of tech innovation that’s set to continue delivering value and corporate profits. To understand it – ditch traditional thinking about economies.

Sports Investment has become one of the hottest arenas in Alternative Asset markets. However, there are more opportunities than simply buying teams, leagues or stadiums – the value of content is critical, creating a whole new Asset Class: Digital Wealth - the value of Creator IP. How to monetise it?