So, just so we're keeping track. Last week Jensen was telling everyone that Coreweave was "improving every day" and he was "optimistic". And this week, he's bailing out Firmus after they pulled their IPOs. Why does Nvidia need to bail out these Neoclouds if they're so sound?

The US is tapping its final diesel lifeline: The Emergency Reserve. This reserve was used only once before, during Hurricane Sandy in 2012 - an ACTUAL national emergency. Now, the admin is releasing 315,000 barrels in an attempt to bring prices down. There's one problem though... 315k is barely a dent in the market. The East Coast alone consumes around 1.2 million barrels a day. Trump is clearly desperate and it shows.

What Trump fails to realise is that most people aren't interested in bribes - especially if it means living next to a datacentre. In fact, developers have even tried this schtick before. In Hazel Township in Pennsylvania, residents were offered $10k to approve the development. Despite being a former coal-mining community where 17% of residents live below the poverty line, they still declined. Turns out even the poorest Americans see through this scam.

Everyone's focused on the price of oil, but what about the price of moving it? The cost to ship oil is 7x higher than a year ago. A new GS report says freight rates have topped $20/barrel! That's been driven by: - $7: Hormuz war-risk premiums - $4: Tankers tied up transferring oil outside the Gulf - $4: Higher ship fuel costs - $3: Rerouting and inefficient shipping - $2: Iran's blocked tanker fleet With Hormuz attacks continuing daily, these prices aren't coming down anytime soon.

Breaking: France! France’s 10yr yields have officially hit their highest level since 2002, with yields briefly topping 5%. Mounting debt fears & uncertainty over the protests & political instability are driving the selloff. The bond market is voting with its feet.

Companies are adopting AI faster than they can control what it costs. A recent survey showed: - 62% had a surprise AI bill change a decision - 81% report AI costs hitting gross margins - 25% scrapped an AI initiative No wonder they're switching to open source models.

Everything is landing on the UK all at once: - Inflation at 3.5%, an 11 month high - Producer costs +8.3% YoY - Borrowing overshooting forecasts - Bond yields the highest in the G7 The BoE is expected to hike rates for the first time since 2023. Can the Brits afford it?

Citadel's Ken Griffin says we're in an AI bubble... Yet he remains bullish on AI long-term. A few more Leopold liquidations lower and then it's up only!

When we one day look back on this period of time, we will fully realise the extent of the oil market manipulation. Near daily headlines that ping-pong between peace and war. All preceded by questionable insider trades. The CFTC isn't going to investigate, but one day the truth will come out. And it will shock everyone.

Anthropic has officially released its S1 for the IPO. It lost more in 6 months than in all of 2025 - $80B loss for first half - 20% of revenue from just 2 customers - $450B in commitments (mostly can't be cancelled) The worst part? Its own cloud partners now treat it as a competitor & cap supply. That all for the low low price of $2 Trillion

You should treat all the headlines about an "imminent" Iran deal as a psyop until proven otherwise.

US tells Gulf allies they can't count on US security forever. Translation: You're better off making your own deals with Iran

It just keeps getting worse for Europe. Gas prices are up 3x since the war and are at their highest level since 2022. Storage levels are at a record low 75% with Germany sitting at 61%! Gulf LNG still isn't flowing to the continent and winter is approaching.

So, voters in Alberta overwhelmingly voted to stay in Canada. 76% vs. 23% for. The separatist voices were a lot louder here on X before hand. Goes to show, sometimes an echo chamber.

This is what hyper-exposure to OpenAI looks like. SoftBank has committed $64.6B to the lab, funded with junk-rated debt at record ~10% yields. The result: - Stock: -50% from June - Credit: 432bp, widest of any major Japanese company It REALLY needs that OpenAI IPO.