The 20% Compute Tax Nobody Priced Into OpenAI
A rogue agent, a paused frontier run, and a monitoring overhead that reshapes the unit economics of building the world’s most powerful AI.
Five Dividend Fortresses for an Uncertain Market
When recession odds are debated and gold is near record highs, these five companies keep writing checks regardless of what the economy does next.
The $65B Number Is About to Meet an Auditor
The public S-1 could land this month. How much ARR survives GAAP scrutiny?
Google’s Brain Drain Is the Real Problem
Here is the uncomfortable question Alphabet’s management memo did not answer: what happens when the people who designed the infrastructure…
Two Surging Stocks Built to Compound
CACI and Gartner are surging for different reasons. Both have durable compounding math.
Nvidia Is No Longer Just a Chip Company
The $105B Ohio guarantee makes Nvidia landlord, banker, and arms dealer of AI.
The Houston Signing Is Just the Entry Fee
Independent US producers are inking PDVSA deals tonight. The upgrader problem, the rig shortage, and a 93-rig gap explain why the real bet starts tomorrow.
ETON’s 43% EBITDA Margin Is the Number Wall Street Missed
Revenue doubled. The margin story behind it is what changes the long-term math.
The Hormuz Deal Is Not a Reopening
The investment committee question this week is not whether the Strait of Hormuz will reopen. It is what kind of…
Two Miners to Own. One to Avoid.
Agnico Eagle and Kinross just posted record cash flow. Newmont is shrinking while costs rise.