A.M. Edition for Jan. 29. Investors are <a href="https://www.wsj.com/tech/ai/meta-overshadows-microsoft-by-showing-ai-payoff-in-ad-business-39f392e0?mod=WSJ_WNPOD">rewarding Meta</a> after <a href="https://www.wsj.com/business/earnings/meta-meta-q4-earnings-report-2025-46b59d90?mod=WSJ_WNPOD">the company’s latest earnings</a> showed massive AI investments translating into a jump in digital-ad revenues. State Street’s Altaf Kassam gives his take on the AI boom’s early winners and losers. Plus, WSJ deputy finance editor <a href="https://www.wsj.com/news/author/quentin-webb?mod=WSJ_WNPOD">Quentin Webb</a> gives us the backstory on <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-01-29-2026/card/gold-prices-top-5-500-where-next--fNlVpxAvIQSPwdTHXO0R?mod=WSJ_WNPOD">the metals rally</a> that just won’t quit. And FBI agents <a href="https://www.wsj.com/politics/elections/fbi-agents-search-election-office-in-georgias-fulton-county-8d4d274d?mod=WSJ_WNPOD">search a Georgia election office</a> as part of a broader push to re-examine Trump’s 2020 loss. Luke Vargas hosts.

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