What if the AI capex bubble may not be a bubble after all?

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There’s every reason to believe that US labs will release their own distillation models which could dominate Chinese onesSkip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementToday's Paper

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Technology<br>AI<br>Print article<br>Aug 18, 2026 – 9.00am

The way Satya Nadella tells it, Sam Altman had a killer pitch when first discussing an OpenAI-Microsoft partnership: “knowledge is the log of compute.”<br>In other words, human knowledge – about anything – is an increasing function of the amount of computing power thrown at it. And knowledge increases more and more slowly as more compute is applied.<br>Loading...

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