US electricity prices are skyrocketing. The average price of US residential electricity has risen +11% since January 2025, to 19.6 cents per kilowatt-hour in August 2026, near an all-time high.
Average prices during the first 8 months of 2026 were +40% higher than in the same period of 2019.
The largest increase in residential electricity prices over this period was in Maine, at +90%, followed by California and New York, at nearly +70%.
This comes as the AI boom is intensifying electricity demand, with data centers requiring enormous amounts of electricity to power thousands of chips and cooling systems.
Corporate token spending growth collapsed from 42% in July to 0.2% in September. Meanwhile, return on invested capital at the five biggest hyperscalers fell from 38% to 20% as capex outruns earnings.
The "unlimited AI demand" story just hit a wall.
+1
The world’s wealthiest families have a succession problem. A new Julius Baer/EY survey of 700+ advisers to wealthy families worth CHF 50 million or more found:
• 66% believe the next generation is inadequately prepared to take over
• Only 2.3% say families are fully prepared for a business sale or transfer
• 80% identify family disagreements as a barrier to a sale
• 60.6% cite emotional attachment as a source of misalignment
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Gnosly Live Signals | AI is getting cheaper
At a given level of performance, cost has fallen ~47%/quarter since 2023.
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Gnosly Live Signals - China is seeing a historic boom in exports due to AI.
China outsmarts the world - Source The Kobeissi Letter
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