Feb 6, 2026 · 24-Hour AI Briefing: Reddit Bets on AI Search Monetization, Coherent’s Orders Go Vertical, Amazon Unveils a $200B Capex Blitz
In the last 24 hours, three threads tightened at once: platforms are repositioning communities as AI-consumable knowledge gateways; photonics/CPO supply is being locked up with long-term capacity agreements; and hyperscaler competition is increasingly a capex-driven compute arms race.
1. Reddit Treats AI-Driven Search as a Major Opportunity; Weekly Active Users for AI Q&A Jump from 1M to 15M; Q1 2026 Revenue Growth Guided to +52% to +54% YoY
Commentary:
Reddit is upgrading from a “content community” into a “knowledge entry point that AI can consume directly,” trying to re-run the search-traffic → ads monetization playbook.
It’s using AI to improve ad targeting (CTR up 5%), while leaning on subreddit context for placement—boosting relevance while sidestepping some privacy backlash.
The real margin story is data licensing: selling access to massive, real user conversations to players like Google and OpenAI at >95% gross margin. Even if it’s not the largest revenue line today, multi-year contracts create durable cash flow and give Reddit unusual leverage in the AI supply chain.
The risk: if AI answers compress posts into summaries, creators and top responders may feel their work is “siphoned,” which can degrade long-term content supply.
2. Coherent Posts FY2026 Q2 Revenue of $1.686B and EPS of $1.29 (Both Above Street); Datacenter Book-to-Bill >4x, Capacity Sold Out for the Year; Lands a Massive CPO Order from a “Key AI Customer”
Commentary:
A book-to-bill above 4x is extreme: customers aren’t just ordering quarter-to-quarter—they’re locking supply with long contracts, prepayments, and capacity reservations. That typically translates into stronger pricing power and better margin structure.
The standout is the oversized CPO order from a “key AI customer.” It doesn’t just validate Coherent’s leadership in cutting-edge photonics integration—it pushes Coherent from “optics supplier” toward “core participant in AI infrastructure architecture.”
So… who do you think that key AI customer is?
3. Amazon Reports Q4 Revenue of $213.4B (+14% YoY) and Operating Income of $25.0B (Above $24.8B Consensus); Cloud Revenue Hits $35.6B (+24% YoY); Announces $200B in Capex This Year, Above Alphabet’s $185B
Commentary:
The topline and operating profit reinforce that Amazon’s three pillars—commerce, ads, and cloud—are still compounding together.
The real headline is $200B in capex: well above prior expectations (~$146.6B) and even above Alphabet’s stated ceiling ($185B). In a supply-constrained AI cloud market, capex becomes a weapon.
The question is whether this spend converts into deliverable compute—and sustained, high-margin AI revenue. Does the market reward this kind of “scale suppression” strategy again?
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