By Hernan Lopez.
Companies mentioned: Alphabet, Amazon, Anthropic, Apple, AppLovin, ByteDance, Comcast, Disney, Meta, Microsoft, Netflix, OpenAI, Paramount, Roblox, Samsung, Tencent, TF1, WarnerBros. Discovery
Questions answered: How did Meta’s Muse stack up against ChatGPT, Gemini, and Claude in its first 18 days? Which Attention 20 companies are being rerated as AI plays, and which got punished? Which streamer was the only one to grow mobile time spent this year?
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Are we in a new attention supercycle? The Attention 20 are now worth $21TN, up 27% from April when I launched the index, compared to a 17% gain in the S&P 500 since then. Five components grew even faster: Tencent and Samsung at over 70%, Microsoft, Meta, and Apple over 30%.
AI “supercycles” are shaping investor perceptions. Take attention-adjacent Samsung: Its AI memory chip business helped push revenue up 28% YoY in Q2. Tencent is being rerated from social media to AI, and Meta might be next: Its EV rose 20% in the two weeks after Muse launched, crossing $2TN for the first time.
Muse, Meta’s agent for the masses, has been a hit: The app was downloaded nearly 4M times in its first 18 days in the US, double the level of ChatGPT in the comparable window...