How will Silicon Valley’s most powerful figures shape technology — and politics — in 2026? Last year, Elon Musk and Mark Zuckerberg aligned themselves with Donald Trump. Where have these relationships left the industry today? The push to break up Big Tech appears to be fading, but the race for AI dominance has sparked new risks and rivalries, as well as regulatory flashpoints.

In this episode of Tech Tonic, Murad Ahmed is joined by FT tech comment editor Elaine Moore, San Francisco correspondent Hannah Murphy and bureau chief Stephen Morris to discuss Musk’s latest Grok chatbot, Zuckerberg’s evolving strategy at Meta, the rise of the online right and what it all reveals about the shifting balance of power in Silicon Valley.

Free to read:

Elon Musk hit by exodus of senior staff over burnout and politics

How Mark Zuckerberg unleashed his inner brawler

Dina Powell McCormick appointed president and vice-chair at Meta

Big Tech tests investors’ patience with $80bn AI investment spree

Here come the glassholes, part II

AI poses a new antitrust problem

China’s open-source AI is a national advantage

This series of Tech Tonic is hosted by Murad Ahmed and produced by Josh Gabert-Doyon. The senior producer for Tech Tonic is Edwin Lane. Flo Phillips is the executive producer. Sound design by Breen Turner and Samantha Giovinco. Original music by Metaphor Music. Cheryl Brumley is the FT’s global head of audio.

The FT does not use generative AI to voice its podcasts.

Read a transcript of this episode on FT.com

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Tech in 2026: Silicon Valley’s power plays and players