The signals beneath AI’s software and infrastructure boom

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Quarterly results capture the impact of decisions already made. The more valuable signals often emerge earlier—in changing customer behavior, internal reorganizations, supplier relationships and infrastructure constraints.

The Information reports from inside those shifts, helping investors understand where tech companies are headed before the financial impact becomes obvious. Subscribe for $299 and save 25% on your first year.

AI is rewriting software economics

Small firms are beginning to replace costly Salesforce and HubSpot subscriptions with custom software built using AI coding tools. Anthropic’s Claude Code, meanwhile, continues to lead among enterprise developers even as rivals compete on price and performance.

The shift is also changing how established companies operate. Microsoft’s new security chief has replaced senior executives as she reorganizes the business around AI-powered products—an early signal of where the company sees future demand.

The infrastructure race is getting more complicated

The physical cost of AI is becoming harder to predict. Oracle’s massive data center plans for OpenAI have encountered multibillion-dollar surprises revealing the permitting, power and environmental constraints behind the buildout.

Those constraints are making companies with access to powered land increasingly valuable. A developer behind OpenAI’s Stargate project is considering a deal that could value it at as much as $10 billion.

Nvidia is preparing for another change: a chip market in which customers use more specialized processors. Its response is not simply to fight emerging competitors, but to find ways to profit alongside them.

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