BREAKING
Nadella floats 'token capital'
Two forms of corporate capital
Token capital
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Model weights and context
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Learned skills you own
Human capital
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Judgment and relationships
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Pattern recognition
0
B
2026 AI CapEx
Don't let a few models eat everything
Three pillars of the learning loop
1
Private evals
↓
2
Private RL env
↓
3
Knowledge base
Idea praised, but unproven at scale
AI NEWS BLITZ
Microsoft's Satya Nadella unveils a new blueprint for the AI-era company.