News Summary

• Dan Loeb says the AI boom is a far cry from the dot-com bubble.
• Big Tech companies have said they'll invest upward of $700 billion combined this year, and $1 trillion next year.
• Third Point, which manages around $24 billion of assets, counted a $404 million stake in Amazon as its largest position at the end of March.
• "If you don't believe the capex numbers are going to yield a return, then you would have to believe that they're just flushing money down the toilet," Loeb said.