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S&P
Every piece of Zan Digital analysis that covers S&P — 13 pieces, each figure traced to a named source.
- 001AI Capex Is in the GDP Data. The Payoff Is NotAI investment drove 39% of US GDP growth in early 2025. The productivity return has not arrived. Whether that is a lag or an absence, and how to tell.39%
- 002CoreWeave Debt: $35.6B and Where the Stress SitsCoreWeave carries $35.6B of debt against a $104B backlog. The spread ladder from SOFR plus 225 to plus 550 shows exactly where lenders price the risk.$35.6B
- 003Dot-Com vs AI Bubble: Six Metrics Where It Breaks DownEveryone compares 2026 to 2000. On six metrics, from P/E ratios to profitability, the comparison mostly fails. Here is the one place it does hold.60x vs 23x
- 004GenAI ROI: Why 95% of Pilots Show No Return, and Who DoesMIT found 95% of GenAI pilots show no measurable P&L return. What the 5% did differently, where the money is really being made, and how to measure your own.95%
- 005The AI Chip Selloff: Dress Rehearsal or False Alarm?Chip and AI hardware stocks fell sharply in late July 2026 and recovered within a week. Fast recoveries signal conviction or complacency. Five indicators.5 days
- 006The IMF Warned on AI Valuations. The Optimists AnsweredThe IMF flagged correction risk in AI-exporting economies. Supporters argue compute scarcity makes the spending rational. Both cases, and what would settle it.Jul 2026
- 007AI Pilot Failure: The 88% Stat and Six Real ModesThe 88% agent pilot failure rate has no traceable source. Measured data says 46% of AI proofs of concept are scrapped. Six failure modes, and the fix.46%
- 008AI-Ready Data: Fix These 4 Layers Before Agents ShipData quality and trust is a top-three blocker to production AI agents for 76% of data leaders. Here is the remediation sequence, in priority order, that works.75.9%
- 009Kill Criteria for AI Projects: 6 Thresholds to Set42% of companies scrapped most AI initiatives in 2025, up from 17%. Six kill criteria with thresholds, set before the sunk cost argument even starts.42%
- 010Multi-Agent Systems: 15x Tokens for a Narrow PayoffMulti-agent systems use about 15x the tokens of a chat, and lose to single agents under matched budgets. The 4 tests that decide the architecture.15x
- 011Negative ROI AI Deployments: The Two Errors That CompoundOnly 25% of AI initiatives hit expected ROI and 64% of CEOs invest before knowing the value. Here is the arithmetic that puts a deployment below zero.25%
- 012AI Layoffs vs Overhiring: What the Hiring Data SaysAI was named in 112,713 US job cuts through July 2026, up from 54,836 in all of 2025, while total announced layoffs fell 41%. The hiring histories disagree.112,713
- 013Oracle Layoffs: 30,000 Announced, 21,000 Actually GoneOracle announced 30,000 layoffs in 2026 and its 10-K showed headcount down 21,000. Separating the AI explanation from a negative $23.7B cash flow year.30,000