Insight Does efficiency from AI really destroy demand and jobs? Using Jevons' Paradox from economics, this piece looks at the reversal of demand happening in memory, inference cost, energy, and labor — based on facts.
Insight The reported $1.75 trillion SpaceX IPO is not a rocket-company listing. The real problem is how to price Starlink's cash-generating infrastructure and SpaceXAI — the absorbed xAI business — on a single balance sheet.
Insight Cutting headcount with AI lowers labor cost, but inference cost is starting to rise. Looking at Anthropic, Uber, Meta, Amazon, and others, I think Tokenmaxxing is opening a new market for AI infrastructure startups.
Insight The more AI improves productivity, the more pressure builds on SaaS seat-based pricing. I look at this quarter's earnings from Datadog, Atlassian, ServiceNow, HubSpot, Salesforce, and Microsoft, and consider the conditions for SaaS survival in the AI era.
Analysis
Independent measurement of Google's Gemma 4 MTP drafter on NVIDIA GB10 (GX10). 1.83x speedup on 26B-A4B and 3.52x on 31B Dense. No public independent benchmark of 31B Dense + 1 GPU + MTP could be found, making this the first such measurement. Reproduces and exceeds Google's 'up to 3x' claim on real hardware.
Insight In 2026, crypto is splitting into two directions: prediction markets that absorb human speculation, and stablecoin payments that power the AI agent economy. I look at the shift from Bitcoin to 'Betcoin' and how AI payments are redefining financial trading.
Analysis
Building on SemiAnalysis's 'AI Value Capture', this analysis traces how value in the Agentic AI era propagates upstream — from model labs and NVIDIA to HBM, advanced packaging, equipment, and power/cooling — using detailed causal subgraphs from an internal investment-theme model. Source attribution is kept explicit throughout.
Insight As AI infrastructure shifts from training GPUs to inference and AI agents, the CPU is being reevaluated. I look at recent moves by Intel, Google, SiFive, and others to outline how the competition is moving toward system-wide optimization.
Insight OpenAI's post-money valuation reached $852B in March 2026. I look at the Microsoft deal amendment, advertising push, Sora shutdown, and the Musk lawsuit through an investor lens.
