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Inside the tech movement to process American copper

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Axios Markets

Giant AI spending has yet to dent this key metric

A line chart that tracks quarterly return on invested capital for Apple, Meta, Microsoft, Amazon, Alphabet and Oracle from Q4 2013 to Q2 2026. Apple rises from 27.0 to 78.8, the highest. Amazon ranges from minus 2.0 to 21.8. Alphabet reaches 42.3 in Q2 2026.

Return on invested capital at select tech giants 

Data: FactSet; Chart: Matt Phillips/Axios

OpenAI sheds senior execs in pre-IPO refresh

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Axios Generate

Data center backlash echoes fossil fuel politics

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Axios Vitals

New AI health effort takes aim at Hepatitis C

Axios AI+

Google updates Gemini with faster Flash model

OpenAI replaces revenue lead as Greg Brockman builds his presence

Musk and Zuck make AI comebacks

Making companies liable could rein in runaway AI

Macro

Axios Macro

Quantifying the AI boom crowding-out effect

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How companies like Amazon, Google and Facebook are shaping our world.

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From the Valley to D.C., Big Tech players like Facebook, Google and Amazon are under more scrutiny than ever as new technology develops and privacy and antitrust concerns grow in lockstep with companies’ ambitions.

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