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By Noah Ogbi

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Meta

No. 3

Five Ways an AI Benchmark Score Can Lie to You

Jul 6, 2026
AI Research·Noah Ogbi·7 minJul 6

A team of Berkeley researchers posted near-perfect scores across eight major AI benchmarks - 100% on most of them - without solving a single task, just by gaming how the score is computed. That gap - between the number and the achievement - is why you have to read a benchmark claim like a skeptic. Here are the five tells, and the five questions to ask.


No. 2

Meta's $145 Billion Question: What Exactly Is All That Spending For?

May 1, 2026
Industry·Noah Ogbi·8 minMay 1

Meta beat earnings expectations and delivered its fastest revenue growth since 2021. Then it raised its 2026 capex forecast to $145 billion and watched its stock fall. The company's problem isn't the numbers; it's that it still can't answer the most basic investor question about them.


No. 1

Cloud Revenue Vindicates Big Tech AI Spending, but Meta's Runaway Capex Unnerves Investors

Apr 30, 2026
Industry·Noah Ogbi·9 minApr 30

Alphabet, Microsoft, Amazon, and Meta reported Q1 2026 results on April 29 that collectively delivered the clearest evidence yet that AI infrastructure spending is generating real cloud revenue. The outlier was Meta, whose strong earnings were overshadowed by a capex guidance range raised for the second time this year, with no concrete product milestone attached to the ceiling.


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