Part 09The tollbooth shifts
Morgan Stanley’s arithmetic, relayed by Tae Kim, says every 100 million users adds about 35 cents, or 1%, to Meta’s 2028 earnings per share.
Habit Was the Moat. Agents Are Draining It.Company · MS
Morgan Stanley
Morgan Stanley is named in 3 Parts of The Buildout, most recently Part 9: Habit Was the Moat. Agents Are Draining It..
Market snapshot
MS on NYSE
Financial Modeling Prep, as of Oct 21, 2026, 4:00 p.m. ET. Delayed quotes.
- Price
- $187.10
- +6.70 (+3.71%) today
- Market cap
- $295.1B
- P/E (trailing)
- 14.8
- Next earnings
- Jan 14, 2027
- Exchange
- NYSE
Analysis and opinion, not investment advice.
Where the argument touches it
On each side.
Paraphrased and attributed, with the date and a link where one exists. DeepStack keeps no score of who was right; the dated tests do that work in the open.
Part 16 · The loan is a bridgeJul 14, 2026
Morgan Stanley's investor meetings with Nvidia leadership show accelerating growth rates even at 100 billion dollars revenue per quarter, strong demand for the Vera Rubin product cycle over the next 12 months, memory shortages lasting several…
In The Buildout
Where Morgan Stanley appears.
One line per story, from the story itself.
Part 04The bill comes due
Morgan Stanley still expects a large jump in 2027 and only a small one in 2028, which resembles a buildout with an end rather than an endless furnace.
AI Spending Has Met Its First Real BillPart 03Demand has teeth
His checklist is substantial: token demand is up roughly 17,000-fold in four years; DeepSeek raised token prices despite a strategy built on undercutting; combined OpenAI and Anthropic revenue run rates crossed $110 billion in July; and Morgan Stanley put hyperscaler returns on AI capital expenditure at 25 to 46 percent.
The Machines Will Work. The Debt Might Not.
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Analysis and opinion, not investment advice. Figures are as of the dates cited in each story.