Newsletter

Dear readers, On Thursday we wrote that the hardware earnings came and went — that Nvidia's $81.6 billion quarter barely...

Dear readers, Yesterday we wrote that Nvidia's earnings would dominate 48 hours of market commentary and that either outcome —...

Dear readers, Yesterday we wrote that the payment networks had found a way to keep growing even as the American...

Dear readers, On Saturday we wrote that the physical layer of the AI economy — semiconductor equipment, power infrastructure, cooling...

Dear readers, On Thursday we wrote that the equity market's thesis — AI monetization and geopolitical relief outweighing the gravitational...

Dear readers, On Monday we asked whether Tuesday's consumer price data would determine if this rally had room to run....

Dear readers, On Saturday we described the companies pouring concrete and stringing power lines for AI's physical layer as capturing...

Dear readers, On Friday we wrote that the U.S. labor market had handed the service economy another quarter of runway...

Dear readers, Yesterday we noted that Friday's nonfarm payrolls report — consensus at 62,000 — would determine whether the labor...

Dear readers, Yesterday we wrote that the plumbers were waiting to get paid — that the infrastructure connecting crypto, AI,...