Post by Niladri Mukherjee

Summer travel is back in full swing, but this year, rising prices may be changing the itinerary. The latest CPI report shows inflation continues to creep higher, with airfare, hotels, and dining out all feeling the pressure. For many households, that means tighter budgets and harder choices about how and where to spend this summer. And yet, underneath the surface, a much bigger story is unfolding. AI isn't just powering your flight search or hotel recommendations—it's quietly reshaping the entire global economy. Nearly half of the S&P 500 is now tied to AI-linked companies. The buildout is real, the spending is enormous, and the products are already here. But the story is shifting. Investors are no longer asking "is AI transformative?" That debate is settled. They're now saying, "show me the returns." The full picture is more nuanced than the headlines suggest. I break it all down in my latest newsletter.