Short term timing is rarely perfect. But if you bought a high quality company with future potential, non-optimal pricing won't matter in the long term.

OpenAI has now: 1. Signed $500 billion Stargate deal 2. Signed $100 billion Nvidia deal 3. Signed $100 billion AMD deal 4. Signed $38 billion Amazon deal 5. Signed $25 billion Intel deal 6. Signed $20 billion TSMC deal 7. Signed $13 billion Microsoft deal 8. Signed $10 Billion

Thrilled to partner with @IREN_ltd to power next-gen AI for Microsoft in Childress, TX! Dell racks with @NVIDIA GB300 GPUs enable secure, high-performance AI at scale. 🚀

OpenAI deals this year (The Kobeissi Letter) • Stargate $500 billion • Nvidia $100 billion • AMD $100 billion • AWS $38 billion • Intel $25 billion • TSMC $20 billion • Microsoft

Happy Monday. On today’s show: – Breaking down Sama on BG2 – Daniel Roberts (IREN) – Mark Gurman (Bloomberg) – Erica Brescia (Redpoint) – Benjamin Witte (Recess) See you on the stream.

Catch the replay of $IREN Co-Founder & Co-CEO Daniel Roberts on FOX Business with Charles V Payne discussing the $9.7bn Microsoft AI Cloud Contract

Vertical integration is worth ~1200 bps in operating margins to AI neoclouds, per Bernstein. Raises $IREN PT from $75 → $125. Bernstein model implies project EBITDA ROIC ≈ 24%, unlevered IRR ≈ 9% (~11% after tax shield). No salvage value for GPUs assumed in their model.

The Information reports that Anthropic expects to generate as much as $70 billion in revenue and $17 billion in cash flow in 2028. The growth projections are fueled by rapid adoption of Anthropic’s business products, a person with knowledge of the compa... techcrunch.com/2025/11/04/ant…

A thing often in common among great startup investors, founders, and researchers: Trading making a lot of small mistakes in exchange for getting a few giant wins. (Surprisingly many people seem to prefer a few big mistakes in exchange for a lot of small wins.)

I would like to clarify a few things. First, the obvious one: we do not have or want government guarantees for OpenAI datacenters. We believe that governments should not pick winners or losers, and that taxpayers should not bail out companies that make bad business decisions or

🏗️ The IREN X MSFT Deal: A bet on the future of AI, and owning the DC and infrastructure is the prize!!!🏣 This is my first time breaking down the numbers of the $IREN x $MSFT deal since it had been announced, using my trusty napkin math model. See the quoted post below for

NVIDIA’s next-generation Rubin GPUs have reportedly entered production, and the company has already begun receiving HBM4 memory samples. Meanwhile, demand for the current Blackwell lineup remains exceptionally strong, which has prompted TSMC to raise production output. TrendForce

the future is bright

WSJ: “Brookfield is targeting $10 billion in equity for its new AI infrastructure fund and has already raised $5 billion of that from investors including Nvidia, KIA and Brookfield’s own balance sheet.”

Today's press release is out "Brookfield today announced the launch of a $100 billion global AI Infrastructure program in partnership with NVIDIA and the Kuwait Investment Authority (“KIA”)."

Today we at OpenAI are releasing GPT-5.1-Codex-Max, which can work autonomously for more than a day over millions of tokens. Pretraining hasn't hit a wall, and neither has test-time compute. Congrats to my teammates Kevin Stone & Michael Malek for helping to make it possible!

BREAKING: Nvidia CEO Jensen Huang says sales of their Blackwell chips are "off the charts" and cloud GPUs are "sold out." Nvidia is now guiding revenue of up to $66 BILLION next quarter.

Michael Burry somewhere right now. $NVDA

$NVDA basically answering Burry: “The A100s we shipped six years ago are still running at full utilization today, now powered by a much stronger software stack.”