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Edward Dowd, founding partner and ex-BlackRock executive at OceanSquare Asset Mgmt, examines recent trends in artificial intelligence markets. He states that AI companies benefited from subsidies to present rapid adoption growth curves, which helped them raise capital. As these firms prepared for initial public offerings, they changed their pricing models to improve their filings and demonstrate a path to profitability. Now, Dowd observes, customers are beginning to pause their engagements, raising questions about the sustainability of this growth.
Dowd previously critiqued AI firm Anthropic for avoiding financial disclosure during funding negotiations with debt financiers, highlighting a lack of transparency in the sector’s capital-raising process. In a separate report, he covered the sharp contraction in China’s construction output that began in late 2025. These cases reflect Dowd’s ongoing commentaries on market accountability and sector headwinds.