Hi,

Here’s our Monday roundup of data signals across AI, energy & markets.

Enjoy!

Every week, we share the latest updates on the State of the AI Economy based on our proprietary research.

Our revenue estimate for the AI economy reached $229 billion annualized by the end of August – up 3.5x in one year. Growth is going strong. Trailing twelve-month revenue reached $140 billion last month, 3.2x the August 2025 value of $44 billion.

1. AI dents margins. Snowflake cut its full-year product gross-margin guidance from 75% to 74%, saying that fast-growing AI workloads “carry a lower contribution margin today”. Investor Tomasz Tunguz estimates that AI accounts for ~4-5% of Snowflake's revenue today.

2. AI gets off the hook. AI-attributed US job cuts fell in August, ending a five-month run as the most-cited reason for layoffs — though it still accounts for 22% of the year’s cuts.