Thursday, December 18, 2025

The January Issue: A bubble barometer

Today, Businessweek Daily offers a special edition featuring stories from the January issue of the magazine, available online now. Here's a
Bloomberg

Today, Businessweek Daily offers a special edition featuring stories from the January issue of the magazine, available online now. Here's a preview. If you like what you see, tell your friends! Sign up for the newsletter here. Or tell us what you like. You can also subscribe to get the print edition.

If you define a speculative bubble as any phenomenon where the worth of an asset rises unsustainably beyond a definable fundamental value, then bubbles are pretty much everywhere you look, Businessweek Editor Brad Stone writes in the January issue of the magazine.

The question of whether we're in an artificial intelligence bubble might be the most pressing one in business right now. Tech companies are on pace to spend just shy of $1.6 trillion annually on data centers by 2030, according to data analyst Omdia, while AI's prospects as a profit maker remain entirely hypothetical.

With Silicon Valley in the midst of another epic boom, Oracle Corp. and its co-founder Larry Ellison have maneuvered right to the center of it. For the cover story, Brody Ford and Drake Bennett tell the tale of Oracle's bet on AI—no tech giant has gone all-in in quite the way it has. What happens to its $300 billion bet if the bubble bursts?

What else is inflating in the year ahead? MemecoinsDemocrats' prospectsInstagram-worthy cookies? Read our sensible guide to The Year Ahead and then make your predictions for 2026.

In This Issue

Oracle's $300 Billion AI Bet Has Fast Become a Bubble Barometer
Silicon Valley is in the midst of another epic boom, and Larry Ellison has Oracle right at the center of it, for better or worse.
Target Needs More Than a Vibe Shift to Turn Its Business Around
The ailing retailer has lost its cheap-chic appeal. Can a new CEO get it back on its feet with his old boss next door?
Donald and Melania Trump's Terrible, Tacky, Seemingly Legal Memecoin Adventure
No one wants to claim credit for helping the first couple launch cryptocurrencies that plummeted more than 90% from their peak.
Why a College Fighting for Survival Is Slashing Econ and Physics Majors
At Albright in Pennsylvania, the new president is cutting programs, selling art and real estate, and vowing not to hire anyone with tenure. Is this the way forward for liberal arts colleges?
The Cracks in Crumbl's Cookie Empire Are Showing
The trendy chain has Instagrammy treats and private equity backing. But layoffs, chaotic operations and paper-thin margins may be leading it down a familiar path.

Best of the Rest

In Context
Rare Earths Aren't Rare for Everyone
In Act of Boycott, Malaysia Makes Its Own 'McDonald's'
Europe's Banned Pesticides Are Poisoning Nigeria
Golden Dome: The Astronomical Cost of Defeating 'Any Foreign Aerial Attack'
Argentina's Richest Man: 'Real Power Is Choosing When to Step Away'
The Prosperity Gap Between Big and Small Businesses
Weed Drinks That Get You Very, Very High Could Be Gone Soon
YouTube Creators Find a New Consumer for AI Slop: Babies
The Cost of Detaining and Deporting One Person in America
Creator of Hit Game Shovel Knight Is at a 'Make or Break' Moment
The Year Ahead
Bubbles Are Everywhere in the Global Economy
Let's Quit Worrying About a US Recession Already
How Will Hollywood Contend With AI Without Destroying Itself?
Fast-Casual Chains Should Pivot to Smaller, Cheaper Meals in 2026
Democrats From Schumer to Mamdani to AOC Face Big Year in 2026
America Needs to Come Around to the Idea There's No 'Winning' Against China
On the Internet, Nobody Knows You're a Human
Luxury Goods Are More Expensive Than Ever. You Should Buy Secondhand Instead
50 Companies to Watch in 2026
Get In on Businessweek's Prediction Market for 2026
Pursuits
Where to Go in 2026
To Understand the US in 2026, Travel to Texas
This Quiet Mexican Paradise Offers New Reasons to Fly South
There's Never Been a Better Time for Tiger Tourism in India
Taipei Is Transforming Into Asia's Next Major Foodie Capital
Guyana Is Turning an Oil Windfall Into Tourism Gold
Travelers Discover the Cool Side of Old-School Vienna

From the Archives

Past covers looking ahead to an even year.

January 2024 | January 2022 | October 2019 | November 2017

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