OpenAI is telling investors that it’s now targeting roughly $600 billion in total compute spend by 2030, months after CEO Sam Altman touted $1.4 trillion in infrastructure commitments.

...'wall of gamma' stalls Anthropic Event bounce but "doesn't feel like an especially fun +1% NDX move..."

"The deliberations are still early and..." 

"CKH considers the ruling, the executive decree, the purported termination of PPC's concession, and the takeover of the terminals to be unlawful." 

Taken together, this creates room for repricing…equities can move higher on cyclical momentum, but yields can rise alongside them...

Heavy Assets, Low Obsolescence firms offer a safe-haven in the new 'AI era'...

...model providers are unlikely to displace software incumbents and are instead positioning themselves and their agents to be an orchestration layer on top of existing and incumbent systems.

In an effort to clarify a framework, here’s a check down of the big dynamics in the game...

"A small sales miss was expected and instead, we got a beat. This was also the first time they beat operating margins in the last..." 

Japanese Prime Minister Sanae Takaichi expressed reservations about additional interest rate hikes during her meeting with Bank of Japan Governor Kazuo Ueda last week, Mainichi reported.

If code can increasingly write itself, barriers to entry in software development collapse and the rent extraction embedded in the SaaS model is structurally challenged...

Time to start the countdown clocks to tonight's piece of political theater... with what surprises for the viewing audience?

"I'm confident that payers will accept and welcome these lower list prices, as they've been calling for them publicly." 

"Unfortunately, we did see this in ’05, ’06 and ’07, almost the same thing..."

...stable prices and declining mortgage rates means more affordability.

S&P gamma has fallen close to negative, which increases the risk that selloffs are reinforced by dealer selling...