The AI Boom Is Now a Cash Flow Story
For three years, the AI trade ran on a simple promise: spend now, get paid later....
The AI Boom’s Money Problem: Debt, Circular Deals, and a Power Grid That Can’t Keep Up
Oracle just delivered a quarter that on paper looked like vindication. Revenue climbed 30 percent, its...
Big Tech Just Volunteered to Power Down. That Tells You Where the Real Bottleneck Is.
Something worth noticing happened in the AI trade this week, and it had nothing to do...
Oracle Booked $664 Billion. Its Free Cash Flow Is Still Negative.
Oracle reported its fiscal first quarter after the close on September 10, and the number everyone...
Dell Booked $95 Billion It Cannot Ship. The Bottleneck Moved Again.
Jeff Clarke said the quiet part out loud this week. Dell's chief operating officer was asked...
Nvidia Just Committed $279 Billion to Its Suppliers. Read That Number Twice.
Nvidia reported its fiscal second quarter on August 26, and by every measure that fits in...
Nvidia Just Backstopped a Twenty Year Lease. Voters Get Their Say in November.
On August 17, Nvidia filed a current report with the SEC disclosing that it had agreed...
The AI Trade’s Circularity Problem Just Got a Warning Label From the Bank for International Settlements
When the Bank for International Settlements, the institution that functions as a central bank to the...
The AI Payoff Is Hiding in the Jobs Data
Most of the AI conversation in markets runs through hardware. How many GPUs did the hyperscalers...
The Real AI Bottleneck Isn’t Silicon. It’s the Substation.
Nvidia posted another quarter for the history books last week. Revenue of $81.6 billion in the...