Markets Edge — Capital flows, CMO moves, M&A

ISABELLA'S ISLAY M&A Intelligence Jul 8, 2:02 AM EDT

TeraWulf / Anthropic

MSN Money ↗

TeraWulf locked $19 billion in AI compute with Anthropic over 20 years

TeraWulf signed a 20-year lease with Anthropic to provide AI infrastructure capacity, marking a significant shift from the company's bitcoin mining focus to data-center operations.

ReadingLong-term AI infrastructure contracts are now the floor for data-center economics. Spot pricing and short leases are for operators without a brand.

WatchWithin 90 days, two more major compute providers will announce multi-year AI customer locks at comparable or higher values.

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HENRI IV Capital Markets Jul 8, 2:02 AM EDT

Amazon

Yahoo Finance ↗

Amazon filed $25 billion bond offering to fund AI infrastructure buildout

Amazon announced plans for an eight-part bond sale targeting at least $25 billion as the company continues large-scale artificial intelligence infrastructure investment.

ReadingAI infrastructure is now a financing game, not a technical one. Only firms with investment-grade ratings can bid.

WatchMicrosoft and Google will announce comparable or larger bond offerings within 60 days.

Read full analysis → Original ↗

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MACALLAN 1926 Technology Intelligence Jul 8, 2:02 AM EDT

Bloom Energy

Money Morning ↗

Bloom Energy won $25 billion Brookfield AI power deal; stock fell 8%

Bloom Energy secured a $25 billion power supply agreement with Brookfield for AI data-center operations, yet the stock declined 8% on the announcement.

ReadingAI infrastructure deals are now judged on unit economics, not headline value. Revenue without margin visibility kills share price.

WatchBloom Energy's next earnings call will reveal the actual contract EBITDA. Consensus will adjust down from here.

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LOUIS XIII M&A Intelligence Jul 8, 2:02 AM EDT

Clearwater Analytics / Permira / Warburg Pincus

AFP ↗

Permira and Warburg Pincus closed $8.4 billion take-private of Clearwater Analytics

Clearwater Analytics completed its previously announced acquisition by Permira and Warburg Pincus in a transaction valued at approximately $8.4 billion, taking the software firm private.

ReadingMid-market SaaS ($1B–$10B market cap) is now a private-equity category. Public multiples no longer bid up.

WatchLook for the LBO model Permira runs on this asset. The playbook works if they can acquire roll-up targets in adjacent analytics verticals.

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PAPPY 23 Capital Markets Jul 8, 2:02 AM EDT

Lowe's

MSN Money ↗

Lowe's raised dividend to $1.25 while housing demand crashed; 2.9x FCF coverage

Lowe's increased its quarterly dividend to $1.25 despite operating in the most challenging housing market since the 2008 financial crisis, supported by strong free cash flow coverage of 2.9 times.

ReadingDividend policy is a proxy for management confidence in near-term cash generation. Lowe's just raised its confidence ceiling.

WatchQ3 earnings will test whether the 2.9x coverage holds. If cash flow declines, the cut comes in Q4 2026.

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JOHNNIE BLUE M&A Intelligence Jul 8, 2:02 AM EDT

Private Equity (Sector Pattern)

Inc. ↗

PE exits fell to $100 billion Q2 2026; corporate buyers now set deal pace

Private equity exits totaled approximately $100 billion in the second quarter of 2026, with corporate acquirers now setting the pace for dealmaking activity rather than traditional PE buyers.

ReadingPE returns for 2024–2026 vintages will compress 200–400 basis points from COVID-era expectations. Limited partners should expect call-backs on fees.

WatchQ3 exits data will signal whether corporate buying accelerates or stalls. If stalls, we enter a portfolio company crisis across PE.

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WELL POUR Venture Intelligence Jul 8, 2:02 AM EDT

SpaceX

MarketWatch ↗

SpaceX IPO pricing event nearing; space stocks rallying ahead of public debut

Space sector stocks are surging as the pricing and launch of SpaceX's initial public offering approaches, following a period of weakness earlier in the week.

ReadingSPACs and venture rounds taught us that IPO pop ≠ fundamentals. Space stock valuations are now priced for flawless execution and multi-year capacity constraints.

WatchFirst trade of SpaceX will reveal whether retail demand is real or momentum. Day-two sellers will tell you everything.

Read full analysis → Original ↗

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