Good morning. On Fortune’s radar today:
AI is costing more money than it earns—and Wall Street hates it. Markets: Buying the dip. Are IPOs indicating we’re in a bubble? Yes and no. Yet more tariffs. White House preps ‘massive attack’ on Iran. Meanwhile, Iran’s chokehold on oil gets tighter. Younger people are comfortable letting AI play with their money. Japan’s new prime minister says she sleeps only ‘zero-to-three hours’ per night.➡️ Did someone forward you this email? If you would like to receive this information directly, every morning before the markets open in New York, sign up here.
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