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From The Archive

Recent Issues

May 22, 2026

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8 min read

The AI duration map: what a 5% long bond does to each layer of the stack

Nvidia printed the best quarter in its history and the stock fell. That isn’t a story about Nvidia — it’s a story about the discount rate. Here is the whole AI stack, sorted by how far out its cash flows sit, and what a 19-year high in long-term yields does to each layer.

René Lauritsen

May 20, 2026

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5 min read

The $3,400 cloud bill in 24 hours

One developer. One agent. Why three companies just bet against the cloud. Why your AI agent is moving off the cloud

René Lauritsen

May 15, 2026

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7 min read

Everyone won this week. That's the problem.

Wednesday repaints the next quarter. Pick your path before then.

René Lauritsen

May 15, 2026

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9 min read

Three catalysts, seven days, one print: the asymmetry going into NVDA earnings

Nvidia added a Switzerland-sized market cap in a week. Cisco proved AI revenue. Trump landed in Beijing with Jensen Huang on the plane. Three binary catalysts now stack into the next three trading days

René Lauritsen

May 13, 2026

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6 min read

The exploit that gave itself away

It hallucinated its own CVSS score. Then it nearly worked.

René Lauritsen

May 13, 2026

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7 min read

Why the CAIO can’t save you

The fourteen enterprise functions that have to be rebuilt before agentic AI is safe to deploy — and the three the org-chart approach gets wrong by default.

René Lauritsen

May 8, 2026

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11 min read

OpenAI's $18B chip deal hit a wall. Microsoft built it

The custom-silicon insurgency just discovered who actually pays.

René Lauritsen

May 8, 2026

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8 min read

Why the custom-silicon insurgency keeps hitting the financing wall

OpenAI, Broadcom, and Microsoft just exposed the structural problem with every Nvidia alternative: someone has to underwrite a programme designed to compete with their own future revenue. They won’t. Here’s what that means for AVGO, NVDA, ORCL, and CoreWeave — and the three signals that decide who wins the next twelve months.

René Lauritsen

May 6, 2026

•

6 min read

The deal you didn't know you lost

Anthropic's agents just out-negotiated humans. Nobody noticed. Anthropic's agents beat humans. Quietly. The losers couldn't tell. That's the problem. Read on.

René Lauritsen
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