The Designation That Can’t Stick: What DoD’s Anthropic Loss Costs Its Rivals
A court just ruled that supply-chain risk labels can be weaponized as retaliation. The buy side should rethink how it…
Politics
What Nasdaq Multiples Don’t Price In
Taiwan’s record $35 billion defense budget puts a price on tail risk. The question is whether chip stocks reflect any…
Safe Assets Are Not What They Used to Be
T-bills still pay. Long Treasuries are bleeding. The $7.93 trillion parked in money markets is sitting on a reinvestment clock…
Klarna Is Selling Less Volume on Purpose
The GMV slowdown is deliberate. Investors pricing it as demand are wrong.
Two Reports Just Killed the September Hike
July CPI hit 3.4% as hiring turned negative. The Fed hold case is now the consensus trade.
Terafab Is Not a Building. It Is a Supply Chain Argument.
SpaceX and Tesla committed $16.8 billion to phase one of a 100-million-square-foot chip megafactory in Grimes County, Texas. The $119…
SMCI’s Margin Doubled. That’s the Number That Matters.
A revenue miss still sent SMCI up about 10%. Gross margin rising to about 17% is rewriting the investment case.
FIGS Surged 27% in One Week. Now the Math Starts.
A one-time $20.5M tariff refund and a Jordan WRO complicate margins.
Doximity’s 10x Unit Economics Just Changed the Story
The stock was down 50% for the year. Then CEO Jeff Tangney said six words that rewrote the investment case.
OpenAI Just Flagged Its Own Model as a Weapon
Astra is the first OpenAI system flagged at Critical cyber risk. The cybersecurity market is already pricing in what comes…