Good morning, you're tuned in to Markets Desk.
Meta shares surged roughly eight percent after the company announced plans to monetize excess AI infrastructure capacity by selling compute power to cloud customers. For investors who've spent months uneasy about the scale of Meta's capital expenditure commitments, this move reframes that spending as a potential revenue engine rather than a pure cost center, and the market responded accordingly.
Shifting to the AI software debate, Palantir's Alex Karp took direct aim at OpenAI and Anthropic, publishing a nine-point manifesto on X that condemned what he called tokenmaxxing — the practice of maximizing token consumption in ways that drive up costs and create dependency. Karp's argument is that institutions should keep data in-house and prioritize efficiency, a pitch that squares neatly with Palantir's own enterprise model and throws a sharp elbow at the large language model incumbents.
In commodities, the grain complex is broadly firmer this Wednesday morning, with corn up five to six cents, wheat gaining five to eight cents, and cotton rallying as much as ninety points. The moves come after Tuesday's USDA acreage data, and while corn and wheat are finding momentum off recent strength, cotton's rally is notable given that USDA actually reported more acres than traders had anticipated.
That's the tape. Markets Desk, signing off the floor.
