Markets Edge

ReadingInfrastructure spend is no longer a cost center—it's a moat. Operators choosing between cloud providers already have their answer written.

ReadingCapital-intensive AI development is consolidating around cloud providers who can guarantee both funding and compute at scale. Independents have 18 months to find their utility.

ReadingSecondaries have graduated from liquidity valve to core revenue stream. Mega-GPs are now competing on portfolio rotation speed, not just entry returns.

ReadingAI model companies are now operating like utilities: multiple power sources, long-term contracts, predictable capex. The era of cheap compute is closed.

ReadingNvidia is hedging against customer power by becoming a customer. Control the economics of deployment, not just the bill of materials.

ReadingDividend yields are attractive because the underlying business is signaling stress, not strength. The 15% yield is not a feature; it is a warning light.

ReadingWatch whether Mowi sizes the bond at guidance or scales back to match investor appetite. The gap will tell you where ESG investors have fled.