Free Cash is King As Companies Pour Billions into AI (META, GOOG, UPS)

Investors increasingly scrutinize the amounts of money that companies generate for shareholder returns, debt servicing or dealmaking. Plus, British Land’s David Walker on how AI is driving demand for office space.

Investors are becoming more selective about AI-linked stocks, rewarding companies such as Microsoft and Amazon for showing clear returns from their investments while penalising Meta and Alphabet for rising spending and weaker cash flows. Despite strong earnings growth across the…