On China’s New AI, US Consumer Debt & Earnings Revisions

The AI innovations emerging from China are hot on the heels of Western rivals. William discusses Alibaba’s new AI model with agentic capabilities, its implications for the software industry, and China’s political paradox: President Xi wants to dominate global tech, but will AI designed to think for itself eschew the party rule? … Also: Melissa distills takeaways from Fed research on the state of household debt and credit in America, noting some disconcerting trends. … And: Joe updates us on the net direction of analysts’ estimate revisions for S&P 500 companies.