SpaceX Seeks $40 Billion for Nvidia Chips as Hyperscalers Shorten Maturities From 30% to 46% of Issuance
An AI cloud provider is paying 11% on a fully amortising loan. Lenders are demanding principal back rather than trusting...
Fed Minutes Show All 19 Officials Backed the Hike and Most Expected Another by Year End. Markets Now Price 20%
Officials cited high equity prices and narrow credit spreads as evidence policy is not yet tight enough.
Private Equity Promised to Slow Its Recruiting of Junior Bankers. Citi Says It Hasn’t Happened
Banks are competing on time to promotion because they cannot compete on carried interest, and voluntary restraint among rivals has...
Non-Dealers Took a Record 97.5% of the 10-Year Auction at 5.3%, the Strongest Evidence Yet That Real Money Is Buying
Dalio says rising rates are what pops a debt-financed AI boom. This auction is the data point that bears on...
A Firm With a $20 Million Disclosed Fund Is Proposing $1.5 Billion of Venezuelan Mining Investment
Alcoa declined the delegation. Newmont, Barrick and BHP are staying out. The companies with the most relevant expertise are absent.
Hinge Health Says Its Service Cuts Human Care Hours 95%, and Runs a 29% Operating Margin in Physical Therapy
This is the clearest listed example of automation replacing professional labour in a regulated services industry, with audited numbers attached.
San Francisco Bans New Data Centers in the City That Houses OpenAI and Anthropic
The places capturing AI's economic benefit are not the places bearing its infrastructure costs, and that divide is now explicit.
Morgan Stanley Has Written at Least $35 Billion of Bridge Loans Across Five Deals That All Must Be Refinanced Into a 5.6% Bond Market
Royal Caribbean's $3 billion facility prices at SOFR plus 112.5 basis points, a fraction of what private credit charges.
France Denies Changing Its Issuance Strategy, Then Explains It Is Selling Less 30-Year Debt Because Demand Has Fallen
The spread over German bunds closed 12 basis points wider at 140, and bond futures held their losses after the...
Novogratz Calls AI the Biggest Bubble of Our Lifetime and Says Buy It, While Also Calling It Cheap on Earnings
Galaxy Digital runs a crypto business and an AI infrastructure business. His two calls match his two revenue lines.
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