Amazon

Retail and cloud giant; parent of AWS and a backer of Anthropic.

Issue #131: Anthropic's Operating Profit Arrived Before Its Compute Did

Anthropic's public S-1 shows a $974m quarterly operating profit, earned while most of its compute is still on order.

Apollo

+23

Issue #130: Anthropic Lost $80.7bn in Six Months. Most of It Was on Paper.

Anthropic's draft prospectus shows $16.3bn of revenue and $450bn of cloud contracts it cannot cancel.

DeepSeek

+30

Issue #128: 163 Million Users Couldn't Stop Character.AI Going Bankrupt

Compute cost Character.AI $56 million in eight months. Lenders are now running the same numbers on the neoclouds.

IDC

+30

Issue #127: Firmus Wanted $30.6B for 46MW. The Market Said No.

Australia's biggest float in years asked public buyers for nearly three times the last private price. They said no.

Firmus

+36

Issue #126: Anthropic's Leaked Draft Shows $518bn of Compute, Mostly Locked In

Under $5bn of sales. A $42bn loss. $518bn of compute. None of it adds up today. All of it is already signed.

Firmus

+24

Issue #125: Oracle Cites Force Majeure on Stargate's Biggest Site

Five thousand two hundred feet of New Mexico dirt is holding up 2.45 gigawatts.

OpenAI

+23

Issue #119: NVIDIA and Wall Street give birth to a new asset class

But don't call it vendor financing.

Apollo

+27

Issue #118: A Two-Year-Old With Nothing to Sell Just Raised $312M

At a $3.3bn valuation. Arm and Netflix's co-founder are in. First chip: 2027.

DeepSeek

+27

Issue #117: Meta Just Became a Tenant in Its Own Data Centre

Sale and leaseback becomes the model.

SK Group

+25

Issue #116: NVIDIA now owns a big slice of Nebius

9.3%. No press release. Locked up until September.

Tata

+26

Issue #114: SambaNova Said No to a $1.6b Buyout

And for good reason.

Together AI

+33

Issue #87: NVIDIA & OpenAI's $100B Breakup, Production Workloads Enter CoreWeave's ARENA, & SpaceX's $1.25T Mega-Merger

Feat. NVIDIA, OpenAI, SpaceX, xAI, CoreWeave, Lambda, Anthropic, Positron AI, Cerebras, Amazon, Google, and Scotland

OpenAI

+13

Issue #78: H200s Return to China, Crusoe Goes Supersonic, & SpaceX Space Data Centres

Feat. NVIDIA, Washington, Beijing, Brookfield, QIA, Crusoe, Boom Supersonic, OpenAI, Intel, SambaNova, Amazon, Microsoft, and SpaceX

OpenAI

+13

Issue #71: OpenAI's IPO Door Opens, KSA & UAE AI Competition Intensifies, & Protein Folding Goes Open Source

Feat. OpenAI, Microsoft, G42, NVIDIA, Huawei, Humain, Qualcomm, OpenFold3, SambaNova, Amazon, and China

OpenAI

+11

Issue #49: Copyright Law Erosion, Neoclouds Go Niche, & Everything’s Bigger in Texas

Feat. Meta, OpenAI, Stability AI, Anthropic, Nebius, DeepMind, Texas Instruments, Amazon, and Fermi America

OpenAI

Issue #38: Neocloud Nscale Wants $2.7B, Meta Becomes a Cloud, & Regulatory Capture

Feat. Nscale, Meta, Nebius, DDN, Alibaba, Anthropic, Intel, Amazon, and Microsoft

Alibaba