Premium
Two Teslas: Pricing the Car and the AI Option
Tesla is a carmaker and an autonomy option wearing one ticker. Value them separately.
Premium
+2
The Consciousness Question: Why Labs Are Funding It
The pivot to consciousness research is risk management, not metaphysics. What it signals for AI governance.
Premium
+2
The Great Repricing: Buyers vs. Suppliers of AI
The market stopped paying for AI ambition and started pricing its cost. Buyers down, suppliers up.
Premium
+2
The Compute Constraint: Owning AI's Scarce Layer
A compute shortage that binds the richest buyers inverts the bubble thesis. Own the constrained layer.
Premium
+3
The Talent Premium: When Researchers Move Markets
Elite researchers are now a priced asset class. How to read the frontier-AI talent trade.
Premium
+2
The Gatekeeper Premium: Pricing AI's New Political Risk
Frontier models are now controlled technology. How to price the political-access premium and risk.
Premium
+3
The Trillion-Dollar Standoff: OpenAI's IPO Delay
OpenAI's pause is the first real test of whether public markets will fund AI's cash burn.
Premium
+2
The Angstrom Era: Who Captures IBM's Breakthrough
IBM rescued the scaling roadmap. The durable margin sits with the foundries and the enablers.
Premium
+3
Jalapeño: Pricing OpenAI's Move Into Silicon
OpenAI's first chip is a margin play on inference. How to price the vertical-integration race.
Premium
+3
The AI Drawdown: Stress-Testing the Memory Super-Cycle
A risk-repricing, not an earnings-repricing. How to read the most crowded trade's first real drawdown.
Premium
+3
The Sovereign Stack: Pricing China's $295B AI Bet
A state mandate is splitting global compute into two non-fungible stacks. Where the value moves.
Premium
+3
The Apple-Intel Signal: Pricing the Foundry Comeback
A non-binding post added tens of billions to Intel. The real value is foundry credibility.
Premium
+3
The Memory Squeeze: Pricing Power Moves Upstream
Apple just conceded pricing power to its supply chain. Where the economics move next.
Premium
+3
The Tokenmaxxing Reckoning
Where value and margin actually accrue as AI gets repriced on unit economics.
Premium
+2
The Tokenmaxxing Reckoning: Pricing AI on Unit Economics
Where value and margin actually accrue as AI gets repriced on unit economics.
Premium
+2
