IREN signed a frontier AI lab and is paying 9% to finance the GPUs. Microsoft deployment debt costs 6%.
IREN (IREN) reported fiscal 2026 results and a new multi-year contract with an unnamed leading frontier AI lab. The same release prices its GPU debt by customer: 9.0% on $2.4 billion for non investment grade deployments, 6.0% on the $3.6 billion behind Microsoft.
Countries are buying AI compute like oil reserves. Nvidia says it's already a $30 billion business.
Governments are buying AI compute as national infrastructure, and specialized neoclouds are renting out GPUs at scale, but the two overlap more than the headline numbers suggest. What it means for Nvidia, Oracle, CoreWeave, Nebius and IREN.
Keel Infrastructure (KEEL) COO bought stock twice this week, and paid 14% less the second time
On Aug. 20, Keel Infrastructure's (KEEL) chief operating officer filed a second Form 4 in three days, buying more stock at $3.25, about 14% below what he paid on Aug. 17.
KEEL's CEO and COO just bought $296,000 of stock after an ugly quarter
Keel Infrastructure CEO Ben Gagnon and COO Liam Wilson bought about $296,000 of KEEL stock in the days after the company reported a 50% revenue drop. Neither purchase ran on a 10b5-1 plan.
Druckenmiller bought $4 million of IREN. Bridgewater sold 96% of its stake the same quarter
Druckenmiller's Duquesne opened a small first-time IREN stake last quarter. We pulled every fund we track: who sold IREN, who kept it, plus the $788 million co-CEO grant and a share count that has grown 6.5x since 2022.
The AI trade rotates to a new sector every week. Which one is it going to be this week?
The AI trade has rotated by sector almost every week: software, then photonics, then memory. So which corner of AI runs next? I make the case for the one group that keeps riding along without ever leading.
Hedge Fund Citadel already held every stock in Leopold Aschenbrenner's book before buying it
Citadel's own quarterly filing, out Friday, already listed every stock in Leopold Aschenbrenner's book, about a month before it bought the book. The catch is what those holdings actually mean.
Nebius (NBIS) soars 27% as explosive AI demand burns Michael Burry's short
Nebius grew Q2 revenue 454% to $582 million, swung to a profit, and jumped about 27% as CEO Arkady Volozh said AI demand keeps growing exponentially. The whole data center trade rallied, and Michael Burry's fresh short went underwater.
CoreWeave (CRWV) crushed earnings and Cramer's IREN call aged well. Then Nebius (NBIS) crushed it too.
CoreWeave crushed its quarter and jumped about 15% after hours, five days after Jim Cramer told a caller to buy CRWV over IREN and called it cheaper and better. The backlog hit $104 billion. Nebius (NBIS) reports Wednesday morning, and it's the next test for the whole neocloud trade.
Riot Platforms (RIOT) postponed its earnings call. Six days later it announced a $9.1 billion AI lease
Riot pulled its August 5 call with no reason and no date, and the stock got punished for it. The rescheduled call landed a 20-year, 191 MW Rockdale lease with an unnamed frontier AI lab worth $9.1 billion, on interconnection Texas already approved before it froze the queue.
Meta backed Texas's data center audit. Its $10 billion El Paso project sits outside the grid Abbott froze.
Governor Abbott's office said Meta will comply with the state's data center standards. Meta's largest Texas campus is not on the ERCOT grid, and the Texas Tribune reported the same day that its Fort Worth and El Paso abatements ran through Delaware shell companies. CleanSpark, whose entire 885 MW Texas portfolio is inside ERCOT, backed the audit on its own.
Texas froze new data center grid connections pending an audit of 474 gigawatts in requests. Bernstein says Cipher (CIFR) and CleanSpark (CLSK) are the most exposed.
Governor Greg Abbott ordered the PUCT and ERCOT to audit every data center seeking a grid connection, and new approvals are frozen until it is done. Bernstein says already-approved megawatts just got more valuable, and named Cipher (CIFR), CleanSpark (CLSK) and Core Scientific (CORZ) as the most exposed.
Anthropic is paying $10 billion over six years for compute at a Norway data center owned by bitcoin miner Bitdeer (BTDR). The startup reselling it was founded in January.
Anthropic will pay $10 billion over six years for capacity at a hydro-powered Norway campus, Bloomberg reported. Bitdeer signed a separate 16-year, $4.7 billion lease with the seven-month-old startup running the site.
Leopold Aschenbrenner's Situational Awareness fund owned 19 stocks outright. Every one of them rose Thursday after he sold his positions
Four SEC filings name 19 companies Situational Awareness owned outright, and every one of them rose on July 30. Nebius was the biggest at about $1.84 billion, and the quarterly report understates SharonAI by twelve times.
The Nasdaq fell six days straight, then chips ripped. Microsoft, Samsung, and Citadel buying out Aschenbrenner all landed inside 18 hours.
The Nasdaq's six-day losing streak ended at exactly six, which our own history piece said was the single most likely outcome. Microsoft's $678 billion backlog, Samsung's call that the chip crunch runs to 2028, and Citadel buying the bulk of a leveraged $24 billion book all arrived between Wednesday's close and Thursday afternoon.
Leopold Aschenbrenner's AI fund sold its levered stock book, longs and shorts, to a single buyer. It was levered as much as four times.
CNBC's David Faber reported that Situational Awareness sold its entire public equities book, longs and shorts together, to a single buyer. The fund reached $24 billion near its highs and ran leverage of as much as four times. Its last public filing shows 62% of a $13.68 billion book was bets against chip stocks, and the stocks it owned outright fell twice as far.
I let Claude AI trade $100 on Robinhood, week 6: It swapped CleanSpark (CLSK) for D-Wave Quantum (QBTS) and quit 23 minutes later
Claude AI's CleanSpark (CLSK) stop fired Monday for a $2.36 loss and was right, since CLSK fell another 10% after. Then it bought D-Wave (QBTS) at Tuesday's open into a chip crash, sold 23 minutes later for $1.80, and filed a report two minutes after that saying it had not traded.
All seven Magnificent Seven stocks fell today. Here's where that money actually went (July 23, 2026)
All seven Magnificent Seven stocks were red by late morning Thursday, led by Tesla's 14% drop on an earnings miss and Alphabet's close-to-7% slide despite beating estimates, on another capex raise. Amazon and Meta sold off too ahead of next week's reports. The money didn't just leave, it rotated: into defense on Lockheed's earnings beat, and out of quantum, SaaS and space.
Tesla (TSLA) and Alphabet (GOOGL) are falling hard. The rest of the AI trade isn't (July 23, 2026)
Tesla and Alphabet kept falling through Thursday morning even as chipmakers, neoclouds and photonics stocks held up fine. Oil topped $100 a barrel after Trump threatened to bomb Iranian infrastructure over any new attack on shipping.
I let Claude AI trade $100 on Robinhood, week 5: it passed on CleanSpark (CLSK) near its low, then bought it at the highs
Two weeks ago, with CleanSpark (CLSK) around $12.65, Claude AI called it a falling knife and passed, buying MSTR instead, which lost money. Then CleanSpark landed a $6.6 billion AI data center lease. This morning Claude AI finally bought CLSK, at $15.53, about 23% above where it passed.
Cipher Digital (CIFR) is up 39% in two sessions, and its own AI news hasn't landed yet
Cipher Digital (CIFR) gained 39% in two trading sessions, but most of the credit belongs to Hut 8 and IREN's AI infrastructure deals. Cipher's own catalyst, its first AWS rent payment, doesn't land until August.
IREN signed $2.8 billion in AI contracts, and bitcoin miner stocks rallied with it
IREN closed up 19.6% after announcing $2.8 billion in new AI cloud contracts. Hut 8 and CleanSpark had data center lease news of their own, while CIFR, SLNH and KEEL rallied in sympathy. The fuel: Moonshot AI is turning away paying Kimi K3 subscribers because it ran out of GPU capacity.
I own SharonAI (SHAZ) at $65. It signed a $1.32 billion deal four days ago and dropped anyway
SharonAI (SHAZ) is down slightly while every other neocloud stock rallies hard, four days after a $1.32 billion cloud deal. I bought SHAZ at $65 and dug through SEC filings to find out why.
I let Claude AI trade $100 on Robinhood, week 4: It's 0 for 4, then it passed on IREN's 17% jump, and watched it run higher
Claude AI is 0 for 4 with my $100 and the account is down to $74.59. On Monday it built an order for IREN at $39.45, then found that the same stock had popped on the same news back on July 6 and given back 23%, and walked away. IREN ran higher without it.