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Thursday, November 5, 2026

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@StableBread 2 clicks

Fajasy on X

Only part of the $1.0-1.2B Boost Run $BRUN expects to spend on GPUs in 2026 is paid in cash up front. $BRUN plans to pay for the GPUs with (1) customer prepayments and operating revenue and (2) equipment leases that spread the cost over the lease term and generally end with an option to buy the GPUs outright. During H1 2026, lessors (the companies that buy the GPUs and lease them to $BRUN) funded $268.3M of new GPU equipment through finance leases. $BRUN made $39.4M of advance payments to secure those leases and paid $29.6M in cash for equipment it bought outright, so lessors funded 79.5% of its $337.3M of new GPU equipment. The $268.3M came from 34 separate GPU leases with 30- to 36-month terms, and the June 30 lease schedule implies an interest rate of ~7%. Its finance leases as of June 30 call for $103.5M of payments in 2027 and $99.8M in 2028, then just $12.1M in 2029, about when its three-year contracts end. So the lease debt runs off with contracted revenue, not with renewals $BRUN still has to win. Customer deposits, the payments customers make up front on their contracts, were $128.4M as of June 30. New deposits made up $112.9M of H1 2026’s $114.2M of operating cash flow, while $BRUN paid $99.9M on its finance leases over the same six months. Effectively, customers’ prepayments are already paying for the GPUs they rent. Founder and CEO Andrew Karos said on the Q2 call that every deal $BRUN closes comes with a prepayment, averaging 22% of total contract value (TCV). The June and July orders alone carry $93.6M due by their start dates ($37.9M on November 30 and $55.6M in installments through March 2027). Karos also said $BRUN’s TCV-to-capex ratio, its contract value divided by what the GPUs cost, keeps rising to 1.4 and above as contracts get longer. So a three-year contract brings in ~$1.40 for every $1.00 of GPUs, which also has to cover the lease interest, the rent, and the staff. In other words, a three-year contract mostly covers the GPUs and the cost of running them, so how much $BRUN makes on those GPUs depends on renting them out again after the leases end in 2029, without lease payments, at whatever older B300s fetch by then.
@aleabitoreddit 1 click

Serenity on X

I don't own $ASTS and not advice, but if you're capitulating just because a stock price went down.. There's little investment thesis or conviction in the first place. People always have multi-year ideas like $RKLB becoming the next $SPCX or AST becoming the next Starlink competitor. Kinda reminiscent of retail favorite names like $HOOD back in 2024, or $NBIS later in 2025... But there's always capitulation periods along the way like the time hedge funds shorted Nebius to $70 in Dec/Jan, after calling it the Neocloud winter. Or the wave of negative analyst DGs on Robinhood on the drop back to $17. Or even macro scares like April 2025. So lot of retail investors never gave their original longs time to play out. Fast forward, a lot of these popular retail names do end up cooking... so kinda sad seeing how quickly sentiment turns.

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Trading Post November 5, 2026

MercadoLibre’s logistics expansion cut margins by 60 basis points, while Mercado Pago grew credit 62% with 7% NPLs.

MELI $77B
Cassandra Unchained 2 clicks

Problems at Twist Bioscience (TWST)

Twist Bioscience’s $200 rebound followed an Anthropic-linked short squeeze, yet its DNA and protein services face broad competition while…

TWST $8B
Hunterbrook 4 clicks

VSH Earnings Review

Vishay reported record Q3 revenue of $979 million, up 24%, and guided Q4 to about $990 million as rising backlog and margins contrast with…

VSH $3.6B
Cestrian Capital Research 3 clicks

Thursday Tailwinds #13: Nov 5, 2026

Florida marinas are 92% full as boat counts rise and permits constrain new supply, creating pricing power for existing operators such as…

SUI $14B
Trade Ideas Flow 6 clicks

eToro: Expanding Beyond Crypto

EToro trades at 2.89x EV/FCF with $304 million in trailing free cash flow, expanding from crypto into equities, commodities, currencies and…

ETOR $1.9B
Max Arnoldi 5 clicks
SILC · long

Silicom LTD

Silicom (SILC) is pitched as inexpensive on its existing hardware business, with upside framed as a cheap call option.

SILC $183M
Value Investors Club 4 clicks

Research Note

Nine Mile Metals is the subject of a research note.

VMSXF $14M
Atrium Research - Equity Research 4 clicks

New Ideas From The Road

Aurelion Research increased healthcare exposure and sees opportunities in banking and defense, alongside research on Alcoa, Nike, ONON and…

AA $10BNKE $60B
Aurelion Research 4 clicks

Site Centers (NYSE:SITC)

Site Centers' $3 per-share return-of-capital distribution and December delisting leave a discounted liquidation stub, with two properties…

SITC $192MCURB $3.6B
Real Assets, Real Value 5 clicks

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