The ⁨Americas⁩ Variables

• Variables to Watch

Watch this variable: AI's $725 billion bill against its revenue

Four companies plan roughly $725 billion of AI infrastructure spending in 2026, up 77% in a year. The largest pure AI vendor books tens of billions and loses money doing it. The ratio between those numbers is the most consequential open variable in markets, and this page will track it.

Sep 20, 2026 · 8 min read

• x=World & Americas
• y=AI, Investment & Markets

• Economy

Chile took majority control of the world's largest lithium deposit

The Salar de Atacama holds 9.2 million tonnes of lithium in brine, the biggest such reserve on earth. In December 2025, a Codelco-SQM joint venture handed the Chilean state majority control of it through 2060, in the middle of the worst lithium price crash on record. Most resource nationalism is announced at the top of the cycle; this deal was signed at the bottom.

Aug 15, 2026 · 8 min read

• x=Chile & Latin America
• y=Minerals & Institutions