AI picks-and-shovels and market winners

More on Manus, who they are, how they got positioned to sell, and more on what Meta wants to do with them. Open AI is paying employees more than anyone in history. The TriFold phone is a bit a dud. And, of course, the weekend longreads suggestion.

• How Meta’s Newest Acquisition Target Got Around Worries Over Its Ties to China (WSJ)
• Manus: The Hands of AI Fate (Spyglass)
• Musk’s xAI Buys Building to Expand ‘Colossus’ Data Center (Bloomberg)
• OpenAI Is Paying Employees More Than Any Major Tech Startup in History (WSJ)
• AI Trade’s Next Leg Is All About Tech’s ‘Pick-and-Shovel’ Stocks (Bloomberg)
• Samsung’s First Trifold Phone Is Expensive and Half-Baked (Bloomberg)

Weekend Longreads Suggestion:

• 2025 letter (Zhengdong Wang)

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