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 appears in Part 3, Part 4, Part 9 of The Buildout. Part 3: The Machines Will Work. The Debt Might Not.; Part 4: AI Spending Has Met Its First Real Bill; Part 9: Habit Was the Moat. Agents Are Draining It..
Market snapshot
MS on NYSE
Financial Modeling Prep, as of Oct 8, 2026, 10:30 a.m. ET. Delayed quotes.
- Price
- $187.33
- −2.38 (−1.25%) today
- Market cap
- $295.5B
- P/E (trailing)
- 15.1
- Next earnings
- Oct 14, 2026
- Exchange
- NYSE
Analysis and opinion, not investment advice.
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.
Across the DeepStack reading
How often it comes up.
35 sources, 89 claims and 66 texts mention Morgan Stanley, as of Oct 8, 2026. A count of attention, not a judgment.
Analysis and opinion, not investment advice. Figures are as of the dates cited in each story.