News Summary

• Companies are putting AI budgets on a diet and setting token limits.
• The word "tokens" was used in 129 earnings calls in Q2 of 2026, up from 57 calls the prior quarter.
• A cutthroat Hunger Games for AI compute is fast approaching, one where everyone — from the C-suite to junior developers — is a player.
• For rank-and-file software engineers, part of their job now involves advocating for the compute they need to succeed, some managers have to barter for their team's tokens.