#AI Compute

Terafab proves the companies can build assets together, but governance costs make an equity merger far harder than technical cooperation.

Once the guardrail is one person's judgment, the only certainty left is a single term in office.

Capacity targets establish a construction direction; the distance between orders, commissioning and customer use determines whether equipment spending becomes recurring revenue.

Nvidia's $12.9 billion did not buy three million models — it bought the default option on the first page a developer opens.

When the usage tier cannot be explained, the loss is not the settlement — it is that people willing to pay $200 a month start comparison shopping.

What Nvidia is buying is not a hosting company with revenues just over $100 million, but the gateway through which the world's open-source models enter production.

Net profit plunges 75% while Alibaba raises $10 billion for AI — a timetable with no room for retreat.

In the same filing, he sold the shovel-sellers of compute and bought China's e-commerce — that combination is itself a judgment.

Rerunning post-training once can outpace the premium version, suggesting the bar for agent capability is shifting from "stacking parameters" to "refining the recipe" — precisely the stretch where the open-source camp is closing ground fastest.

For the first time, the chip competition has moved from the specs sheet to the interest-rate sheet.