Financing the AI Boom 3
Nvidia GPU rental prices are rising across generations, supporting a $500 billion push to finance AI compute as a durable, rentable asset…
Substack
Net Interest
Everything we have picked from this writer, newest first.
PayPal, Declined
Stripe and Advent’s reported $53 billion bid for PayPal follows a decade in which Stripe’s payment volume outgrew PayPal’s Braintree.
Too Big to Succeed
JPMorgan’s $5 trillion balance sheet and $63.7 trillion derivatives book make Jamie Dimon’s eventual successor one of banking’s hardest…
Stretch Marks
Strategy owns 847,363 Bitcoin and funded $13.7 billion of purchases this year with Stretch preferred stock, a variable-dividend security…
Duffy’s Last Dance
CME CEO Terry Duffy moves to executive chairman while suing the CFTC over Kalshi’s approval to list perpetual futures, defending CME’s…
When the Ducks are Quacking
Ford’s 1956 IPO sold 10.2 million shares at $63 each after Goldman Sachs helped resolve the Ford Foundation’s voting-rights problem.
Bye the Index
Nasdaq’s QQQ amassed $456 billion through aggressive marketing, turning index licensing into a larger earnings source than trading, data…
Apple Turnover
Apple Pay reaches 785 million users and has become Apple’s springboard into cards, transfers and savings, giving it a fintech advantage…
Defying the Surveys
PNC CEO Bill Demchak says consumer spending, savings, activity and loan growth contradict record-low University of Michigan consumer…
