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We establish a canonical and unique tensor product for commutative monoidsand groups in an infinity-category C which generalizes the ordinary tensorproduct of abelian groups. Using this tensor product we show thatE_n-(semi)ring objects in C give rise to E_n-ring spectrum objects in C. In thecase that C is the infinity-category of spaces this produces a multiplicativeinfinite loop space machine which can be applied to the algebraic K-theory ofrings and ring spectra.  The main tool we use to establish these results is the theory of smashinglocalizations of presentable infinity-categories. In particular, we identifypreadditive and additive infinity-categories as the local objects for certainsmashing localizations. A central theme is the stability of algebraicstructures under basechange; for example, we show Ring(D \otimes C) = Ring(D)\otimes C. Lastly, we also consider these algebraic structures from theperspective of Lawvere algebraic theories in infinity-categories.

Universality of multiplicative infinite loop space machines